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Senate Bill: Hands off PBGC Premiums as Spending Offset

Pension Benefit Guaranty Corporation (PBGC) premiums should not be a safety valve for the federal budget. That’s the view of Sen. Michael Enzi (R-WY), who has introduced legislation that would prevent the practice.

Enzi introduced S. 270, a bill that would prohibit the use of premiums paid to the PBGC as an offset for other federal spending, on Feb. 1. It was referred to the Senate Budget Committee.

The bill has three co-sponsors so far, Republican Sens. Lamar Alexander (TN), Johnny Isakson (GA) and Rob Portman (OH).

This is not the first such effort by Enzi. On July 14, 2016, he introduced S. 3240, a bill which provided that, for purposes of determining points of order under the Congressional Budget Act of 1974 or any concurrent resolution on the budget, any provision that increases or extends the increase of PBGC premiums would not be counted in estimating the level of budget authority, outlays or revenues. The bill, which Alexander and Isakson also cosponsored, languished in the Budget Committee.