Republicans Split On IRA Provision In Pension Bill(taxes pulled out of bil

[papau]

From today's WSJ -

Republicans Split On IRA Provision In Pension Bill
Boehner, Grassley Disagree Over How Much Leeway Wall Street Should Receive
By DAVID ROGERS and DEBORAH SOLOMON
July 26, 2006; Page A10
WASHINGTON -- Pension-bill negotiations in Congress are coming down to a bruising fight among Republicans over how much latitude to give the financial-services industry to provide advice to individuals on their retirement accounts.

Senate Finance Committee Chairman Charles Grassley (R., Iowa) continues to resist pressure from House Majority Leader John Boehner (R., Ohio), who wants to make it easier for investment companies to both manage retirement accounts and advise clients on their portfolio. <snip>

Major provisions promising airlines more time to bring their pension contributions up to date were being finalized last night, and Mr. Boehner is hopeful of agreement today on the package. But a closed-door exchange yesterday between House Ways and Means Committee Chairman Bill Thomas (R., Calif.) and Sen. Edward Kennedy (D., Mass.) betrayed Republican concerns about labor's reaction to some of the agreements. And members of the Senate Finance panel were in open revolt after Majority Leader Bill Frist's chief-of-staff Eric Ueland told reporters that popular tax provisions would be pulled out of the package.

"Am I dealing with Sen. Ueland or am I dealing with Sen. Frist," said Chairman Grassley. "Sometimes plans change," said Speaker Dennis Hastert (R., Ill.) of the new leadership tax strategy, but Republican business allies began a countereffort to keep a corporate-research tax credit in the pension bill. <snip>