With Some Work, Pension Bill To Be Ready By July 4th

The delay in completing action on the pension bill is testimony to the very sensitive balancing act we have before us. The pension bill must ensure that more money goes into pension plans, but the new rules cannot be so strict that they cause companies, pension plans, and jobs to disappear. What's true in medicine is true in government: A cure that's so strong that it kills the patient isn't worth much in the long run.

I am proud of my colleagues for their sincere desire to craft the best possible rules with the health of the pension system in mind. It hasn't been easy, but we have made enormous progress. With hard work and a little elbow grease, I fully expect to complete the pension bill by the July 4th recess.

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