Levin strikes pension relief from small business tax bill

Ways and Means Chairman Sandy Levin (D-Mich.) will not include pension relief in the small business tax bill his committee is expected to markup Wednesday.

“We’re going to take up the pension issue through the Senate [extender] bill,” Levin said. “It has a pension provision in that bill and we’re going to take it up through that.”

The Senate extender bill provides temporary relief from statutory pension funding obligations.

Without the relief, senators argued it would be difficult for companies to allocate resources for hiring. They also feared companies could terminate their defined benefit pension plans if they were required to abide by funding rules.