Senate Finance Committee Chairman William V. Roth Jr., R-Del., is working with the Clinton administration to include targeted retirement savings incentives for low-income workers in a Senate version of the comprehensive pension package that passed the House last month. Mr. Roth hopes his overture will ensure Democratic support in the Senate and reduce the likelihood of a veto by President Clinton. The committee is scheduled to debate the bill on Sept. 7.
The House passed its bill with an overwhelming majority, but some Democrats and the Clinton administration believed the package helped middle- and upper-income workers save more but did not provide any help to lower-income workers. A Democratic amendment that would have provided tax credits to low-income workers for retirement saving through new individual accounts failed in the House.