Pension and Budget Integrity Act of 2021

Bill: 117-hr-4830
Sponsor: full_name: Rep. Kilmer, Derek [D-WA-6]
Introduced: 2021-07-29
Policy area: Economics and Public Finance
Latest action: action_date: 2021-07-29
text: Referred to the Committee on Rules, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Summaries:
action_date: 2021-07-29
action_desc: Introduced in House
text: <p><b>Pension and Budget Integrity Act of 20</b><strong>21</strong><strong></strong></p> <p>This bill prohibits certain provisions from being counted as an offset to determine budget points of order for legislation in the House of Representatives or the Senate. Specifically, a provision that increases or extends an increase of single-employer pension program premiums payable to the Pension Benefit Guaranty Corporation (PBGC) may not be counted as such an offset.</p> <p>(The PBGC is a federal agency that insures the benefits of private sector, defined benefit pension plans. The PBGC is financed by insurance premiums paid by sponsors of the plans, investment income, assets from pension plans taken over by the PBGC, and recoveries from the companies formerly responsible for the plans.) </p>

tv_txt: I 117th CONGRESS 1st Session H. R. 4830 IN THE HOUSE OF REPRESENTATIVES July 29, 2021 Mr. Kilmer (for himself, Mr. Gonzalez of Ohio , and Ms. DelBene ) introduced the following bill; which was referred to the Committee on Rules , and in addition to the Committee on the Budget , for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned A BILL To prohibit the use of premiums paid to the Pension Benefit Guaranty Corporation as an offset for other Federal spending.

1. Short title This Act may be cited as the Pension and Budget Integrity Act of 2021 . 2. Prohibition on the use of premiums as an offset (a) In general In the Senate and the House of Representatives, for purposes of determining points of order under the Congressional Budget Act of 1974 ( 2 U.S.C. 621 et seq. ) or any concurrent resolution on the budget, any provision that increases, or extends the increase of, any single-employer pension program premiums payable to the Pension Benefit Guaranty Corporation shall not be counted in estimating the level of budget authority, outlays, or revenues— (1) in the Senate, for any bill, joint resolution, amendment, amendment between the Houses, conference report, or motion; or (2) in the House of Representatives, for any bill or joint resolution, or amendment thereto or conference report thereon. (b) Rules of Senate and House of Representatives Congress adopts the provisions of this section— (1) as an exercise of the rulemaking power of the Senate and the House of Representatives, respectively, and as such is deemed a part of the rules of each House, respectively, and supersede other rules only to the extent that they are inconsistent with such rules; and (2) with full recognition of the constitutional right of either House to change the rules (so far as relating to the procedure of that House) at any time, in the same manner, and to the same extent as in the case of any other rule of that House.