Bessent: Tax bill by July 4

Campus News: House Republicans are planning to drastically overhaul congressional pensions as part of their reconciliation bill.

The House Oversight and Government Reform Committee is proposing to base congressional pensions on the average of an employee's top five years in pay instead of three years. Furthermore, the GOP reconciliation bill would also force employees to pay a higher percentage of their salary into the Federal Employees Retirement System — 4.4%.