Federal lawmakers left Washington for their July 4 recess last night without announcing a long-promised deal over major pension reform legislation. But Washington sources said key lawmakers made progress toward an agreement in face-to-face discussions this week and will pick up where they left off when they return to Capitol Hill July 10.
Kevin Smith, communications director for House Majority Leader John Boehner, R-Ohio, said lawmakers do have a framework for a proposed legislative deal ready, and that there is no key stumbling block. "It's 95% to 98% there," Mr. Smith said. He added that lawmakers will probably be able to iron out the final details in July — "they just have to get these remaining issues finalized."
"I do think they will reach an agreement at some point," said Lynn Dudley, vice president, retirement policy, for the American Benefits Council, Washington. "They don't quite have a framework, but they've made incremental progress toward one."