The Focus of Today's Session will be   H.R. 3108, the Pension Reform Bill

3:35 P.M.

Senator Grassley requested unanimous consent that an amendment by Senator Nickles S.Amdt.2264 to Senator Grassley's S.Amdt.2233 be accepted.  No one objected and the amendment was accepted.  With no further legislative action expected this afternoon More From the Floor is shutting down for the day.  We will return bright and early tomorrow when the Senate is expected to return for a vote on final passage of H.R. 3108. 

3:25 P.M.

Senator Kennedy continues to speak about the economy, the jobless recovery and unemployment insurance.  Senator Kennedy routinely offers an amendment to extend temporary unemployment insurance to many larger bills that are considered by the Senate.  He does this because unemployment insurance has not been an issue considered in recent months on the floor of the Senate.

3:00 P.M.

By a vote of 67-25 the Senate voted to table the Kyl 2nd degree amendment to Senator Grassley's amendment, to H.R. 3108.  Senator Kennedy has inquired when the Majority plans on finishing this bill and is now speaking on pension plans and the benefit they provide to retirees. 

2:50 P.M.

Senator Kyl's amendment would hold the Pension Benefit Guarantee Corporation (PBGC) harmless for the obligations of defaulted plans accrued while Deficit Relief Contribution (DRC) payments were reduced.  Benefits accruing during acceptance of DRC relief will not be insured the the PBGC should a plan default either during the DRC relief period or for two years following.  If a plan fails more than two years after the relief period ends, the PBGC would insure the plan's full obligations per current law.  An initial assessment of the votes that have been cast at this point would suggest that more votes in favor of tabling the amendment have been cast than the number of votes against tabling the amendment. 

2:35 P.M.

Senator Rockefeller has moved to table the Kyl amendment and the Senate is now voting on the motion to table.  Although other votes were scheduled for the afternoon, with inclement weather approaching the Washington, D.C. area it is unclear whether these votes will still take place this evening. 

2:15 P.M.

Senator Rockefeller of West Virginia is speaking on the Senate floor about Senator Kyl's amendment to H.R. 3108.  He is concerned about eroding the benefits of workers.  Senator Kyl is now speaking about the nature of his amendment. 

12:10 P.M.

Minority Leader Daschle is speaking on the floor about intelligence officers and the investigation into the leaking of the name of a CIA operative this summer.  He is also speaking about Iraq and the search for weapons of mass destruction.

12:00 P.M.

The Senate will reconvene at 12:00 p.m. to resume consideration of H.R.3108, the Pension Reform Bill.  The Senate will recess at 12:30 p.m. until 2:15 p.m. for weekly party policy meetings.  Currently there are two amendments pending to the bill, an amendment by Senator Grassley, S.Amdt.2233 and a second degree amendment by Senator Kyl, S.Amdt.2234.  A vote is expected at 2:30 on the Kyl second degree amendment and further roll call votes are expected throughout the day.  More From the Floor will return in full tomorrow morning.