Senator Frist Calls Pension Reform Legislation “Must-Pass”
Today on the Senate floor, in somewhat of an about-face, Senate Majority Leader Bill Frist called the House-passed pension reform bill (H.R. 4) “must-pass” legislation, claiming the Senate will clear the bill by the end of this week. As we’ve previously indicated, H.R. 4 includes a scaled-back package of charitable reforms and incentives, which the nonprofit sector has been watching for many months.
Senator Frist said, “It's just this simple: The pensions bill is must-pass. Must-pass!” He added, “The Senate must clear the pensions bill, clean, so the President can sign it this month. We will act, and pensions will get done, without amendment.”
As late as yesterday, Senator Frist was still indicating that he would allow a vote on H.R. 4 only after the Senate approves another bill (H.R. 5970), which contains billions of dollars of tax "extenders," minimum wage provisions and a permanent reduction in the estate tax. Now that Senator Frist has "separated" H.R. 4 from such contentious issues as minimum wage and the estate tax, it’s all the more likely the charitable package will reach the President’s desk.
A few procedural notes to keep in mind, though. Because H.R. 4 is not a conference report it's subject to amendments, and if the Senate alters H.R. 4 in any way it will have to return to the House. So, we can expect one of three things to happen. The Senate could vote to: (1) pass H.R. 4 exactly as presented by the House; (2) amend the bill with significant changes that would require H.R. 4 to go back to the House; or (3) pass the bill with minor “technical corrections,” which could either be sent to the House or simply to staff to make the technical corrections. Senator Frist is hoping for the first option.
It's also possible that if the Senate does not approve H.R. 5970, Senators try to pick-off the tax "extenders" and attach them to H.R. 4. This would obviously slow the progress of H.R. 4.
Senator Frist said, “It's just this simple: The pensions bill is must-pass. Must-pass!” He added, “The Senate must clear the pensions bill, clean, so the President can sign it this month. We will act, and pensions will get done, without amendment.”
As late as yesterday, Senator Frist was still indicating that he would allow a vote on H.R. 4 only after the Senate approves another bill (H.R. 5970), which contains billions of dollars of tax "extenders," minimum wage provisions and a permanent reduction in the estate tax. Now that Senator Frist has "separated" H.R. 4 from such contentious issues as minimum wage and the estate tax, it’s all the more likely the charitable package will reach the President’s desk.
A few procedural notes to keep in mind, though. Because H.R. 4 is not a conference report it's subject to amendments, and if the Senate alters H.R. 4 in any way it will have to return to the House. So, we can expect one of three things to happen. The Senate could vote to: (1) pass H.R. 4 exactly as presented by the House; (2) amend the bill with significant changes that would require H.R. 4 to go back to the House; or (3) pass the bill with minor “technical corrections,” which could either be sent to the House or simply to staff to make the technical corrections. Senator Frist is hoping for the first option.
It's also possible that if the Senate does not approve H.R. 5970, Senators try to pick-off the tax "extenders" and attach them to H.R. 4. This would obviously slow the progress of H.R. 4.
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