Revenue-related pension provisions in H.R. 4213, the House jobs bill, could put the government budget $720 million ahead in 2011 but cost about $1.4 billion in 2019.
Analysts at the Joint Committee on Taxation, an arm of Congress that helps members of Congress analyze the effects of proposed legislation on government finances, have published those predictions in a review of the possible effects of the revenue provisions in H.R. 4213, the American Jobs and Closing Tax Loopholes Act of 2010, on the federal budget.
The JCT analysts also have prepared a report the gives a detailed description of the H.R. 4213 revenue provisions.
Analysts at the Congressional Budget Office later released an analysis suggesting that the bill as a whole would increase the federal budget deficit by a total of about $59 billion in 2011, have a variable effect from 2012 to 2016, then reduce the deficit by about $3 billion to $5 billion per year starting in 2017.
THE JCT ANALYSIS
From fiscal year 2010 to 2015, the provisions could put the government ahead by $5.6 billion, but the provisions would start costing the government money in 2017, the JCT analysts say.
From 2010 to 2020, the provisions would put the government ahead only $2 billion, the JCT analysts estimate.
Proposed defined contribution plan fee disclosure rules would have only a negligible revenue effect, and provisions relating to multiemployer defined benefit pension plans would have an effect of less than $100 million in most years, the JCT analysts estimate.
The provisions with the biggest effect, which relate to funding rules changes for single-employer pension plans, could make highly variable changes in the federal budget, the JCT analysts suggest.