Don't Declare Victory Yet

Let’s not declare victory on pension reform just yet. While the slightly modified plan that passed both finance committees last week might seem a sure thing to become law due to the fact that the House and Senate leadership have backed it, attempts to further change it, or even to scuttle it, are likely to emerge this week in the form of more amendments and other parliamentary maneuvers. A floor vote by this Thursday may also be delayed. Let’s not forget that there’s a lot of special interest support among legislators and they are going to be pressured to go to bat to defeat reform. Opposition leaders haven’t given up. They’ve mobilized their members and a strong pushback effort is sure to follow.