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Congress Fails To Agree On Pension Bill

Law360 (July 25, 2006, 12:00 AM EDT) -- Help from Capitol Hill for Delta Air Lines Inc. and Northwest Airlines Corp. has evaporated for now, as both the House and Senate failed Tuesday to finish a bill for a sweeping overhaul of U.S. pension laws.

Legislators said a vote could still be conducted before a one-month Congressional recess is kicked off on Friday, but that may be unrealistic given procedural time constraints.

The airlines previously said they needed a final bill by August to prevent possibly defaulting on pensions for about 150,000 workers and...
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