Ohio senators push for Delphi retiree’s tax credit extension

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Ohio senators push for Delphi retiree’s tax credit extension

Dayton Daily News – Both Ohio senators say they’re pushing for extension of a tax credit that has helped Delphi retirees and others.

The credit has assisted Delphi retirees in particular and others affected by overseas trade, the senators said.

The Health Coverage Tax Credit is set to expire Saturday. Sen. Sherrod Brown, a Democrat, said he has introduced legislation to extend the credit for another 18 months. Sen. Rob Portman, a Republican, said he and Sen. Roger Wicker, R-Miss., wrote to Sen. Mitch McConnell, Senate minority leader, and others asking for help in extending the credit.

In 2009, auto parts maker Delphi cut health and life insurance to its salaried retirees and turned its pension obligation over to the federally backed Pension Benefit Guaranty Corp., a move that meant cuts of 40 percent to 60 percent to pensions of retirees younger than 65.

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