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Senate Votes
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VIRGINIA
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NV
Allen (R)
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Warner (R)
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PENSION LAW CHANGES
For: 93 / Against: 5
The Senate sent President Bush a Republican-drafted bill (HR 4) to shore up defined-benefit pension plans by requiring some 30,000 companies to fully fund their pension liabilities over seven years, with certain airlines granted more time. The bill also requires companies to pay higher premiums to the Pension Benefit Guaranty Corp., a taxpayer-backed federal agency that insures defined-benefit pensions but has reported a $22.8 billion deficit against obligations.
The bill contains incentives to make defined-contribution plans, such as 401(k)-style plans, a more attractive alternative to traditional defined-benefit plans and gives employers legal protections to spur conversions of defined-benefit plans to "hybrid" plans.
A yes vote was to pass the bill.
MARYLAND
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N
NV
Mikulski (D)
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Sarbanes (D)
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VIRGINIA
Y
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NV
Allen (R)
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Warner (R)
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MEXICAN BORDER FENCE
For: 94 / Against: 3
The Senate voted on an amendment to spend $1.8 billion in the 2007 defense budget to build 370 miles of triple-layer fencing on the U.S.-Mexico border and scattered vehicle barriers along a 460-mile stretch of the border. The underlying bill (HR 5631) awaits final passage next month.
A yes vote backed the amendment.
MARYLAND
Y
N
NV
Mikulski (D)
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Sarbanes (D)
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VIRGINIA
Y
N
NV
Allen (R)
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Warner (R)
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