If enacted, it would allow companies to use instead a 20- to 30-year corporate bond rate for two years.

But long-term bond rates were under 4.5 percent, or well below current levels.

Italian bond rates are on the way up again.

The bill would allow them to change to a corporate bond rate, which would be higher.

Between jobs and wages, the 30-year bond rate should have moved up by 8 basis points, or nearly one-tenth of a percent.

"If the bond rates go up, then it doesn't become worth doing," she said.

Last June the 10-year bond rate hit a 48-year low.

Although long bond rates dropped to 6.5 percent in early July, he expected them to decline further.

On the other hand, long-term bond rates have come down.

Higher bond rates, in turn, draw investors away from equities.