The House on Tuesday is expected to approve a COVID-19 relief bill that includes federal assistance for struggling multiemployer pension funds and some funding relief for single-employer plans.
The American Rescue Plan Act of 2021, H.R. 1319, a $1.9 trillion package that passed the Senate on March 6, includes $350 billion in direct aid to state, local governments, territories and tribes, but prohibits them from spending it on public pension costs.
After passage by the House, it will go to the White House for President Joe Biden's signature.
The close 50-49 Senate vote highlighted the partisan divide over the relief measure, particularly on the multiemployer pension provisions.
Sen. Chuck Grassley, R-Iowa, criticized it as "an $86 billion bailout with no strings attached, all but guaranteeing that taxpayers will be on the hook for future intervention to rescue the failing retirement plans."