A key House committee has kept provisions that could hurt life insurers out of the House version of the minimum wage bill.
Members of the House Ways and Means Committee moved by a voice vote late Monday to approve a bare-bones version of S. 2.
The version approved excludes provisions added in the Senate that could sharply limit use of non-qualified deferred compensation packages.
Members of the Senate Finance Committee apparently had intended that the provisions limiting use of non-qualified deferred comp plans apply mainly to the very highest paid executives, but insurance groups and other business groups have argued that the effects of the provisions would reach down to lower-level executives and managers and be far broader than the authors had intended.
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S. 2 could go to the House floor Wednesday or Thursday, according to the Office of the House Majority Leader.