Lawmakers Reconcile Pension Bills

House and Senate negotiators agreed on a massive pension relief bill for U.S. companies Thursday, but a lack of Democratic support made final passage uncertain.

The lawmakers, reconciling rival House and Senate bills, agreed to provide about $80 billion in relief for U.S. firms struggling to fund traditional pensions and added $1.6 billion in extra aid for pension plans of major airlines and steel firms.

Democrats refused to go along with the deal, angered that the majority Republicans had agreed to help only about 4% of pension plans sponsored by more than one employer. These cover mostly unionized workers in industries such as trucking and construction.

Blaming an “anti-labor” White House -- which had threatened to veto aid to multi-employer plans -- for the Republican position, Sen. Edward M. Kennedy (D-Mass.) warned that the resulting accord would not pass the closely divided Senate.

Republicans have 51 votes, Democrats have 48 and one independent who normally votes with Democrats in the chamber.

“The White House is running roughshod over thousands of small businesses and millions of unionized workers in this bill,” Kennedy said.

Rep. John A. Boehner (R-Ohio) insisted Republicans had gone “as far as we can go” on multi-employer plans and still get President Bush to sign the bill into law. It is expected to go to the House floor today.