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Groups who advocated for the IRS to prepare tax returns sure look foolish these days: http://t.co/oKvpIofu7Y
May 13, 2013 06:30 PM
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"We don't need the federal government mandating additional taxes..." -@MarshaBlackburn on MFA: http://t.co/lAuLJtr5t3 #NoNetTax
May 13, 2013 06:00 PM
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Health insurers and businesses are already feeling the iron-clad grip of regulations in #Obamacare: http://t.co/J6dfnKqFYZ
May 13, 2013 05:30 PM
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Virginia Governor Bob McDonnell Signs Largest Tax Hike in Virginia History into Law http://t.co/Qd6KOFfaPv
May 13, 2013 03:46 PM
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Under #Obamacare, mothers have had a tougher time purchasing non-prescription, over-the-counter medicine: http://t.co/dJuaGAT9LE
May 13, 2013 02:01 PM
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9 out of 20 #Obamacare tax hikes have not even been implemented yet: http://t.co/opFkyf1guJ
May 13, 2013 01:30 PM
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.@GroverNorquist on MFA: "[The Senate] didn't ask all of the questions that needed to be asked": http://t.co/wXfkIR2Ca9 #NoNetTax
May 13, 2013 01:01 PM
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"When architects of #Obamacare are worried about it creating a trainwreck, you know something's gone terribly wrong": http://t.co/J6dfnKqFYZ
May 13, 2013 12:30 PM
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Conservative and Free Market Groups Applaud Move to Delay a Vote on Gina McCarthy: http://t.co/lNQYmJAB12 #EPA
May 13, 2013 12:02 PM
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The #Obamacare train wreck will derail the American economy: http://t.co/opFkyf1guJ
May 13, 2013 11:30 AM
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Higher Tax Revenues from Pension Law Changes Is Not a Tax Increase
This higher tax revenues in the highway/student loan bill in Congress do not equate to a tax increase.
Quick point of clarification on an otherwise-distracting day: the House and Senate are set to vote on a bill involving transportation and student loan interest rates. One of the pay-fors in this bill allows companies with defined benefit pensions to fund them at a slower rate than the law currently requires them to. According to JCT, this action results in about $20 billion in higher tax revenues over the next decade.
Why is that? When companies have to expend less money to fund pension plans, that means their tax deduction for pension contributions goes down. As a result, their taxable income goes up. As a result of that, their tax liability goes up, and hence the revenue-positive JCT score.
So, the higher tax revenue is an indirect effect from a non-tax law change by Congress. This is not a legislated tax increase. The higher revenues are merely a side effect of a change to pension funding laws.
Note that this clarification only speaks to the question of whether this positive revenue score indicates a tax increase in the bill, not to the merits of the bill itself.
Posted by Ryan Ellis 
on Thursday, June 28, 2012 2:44 PM EDT
on Thursday, June 28, 2012 2:44 PM EDTTo follow Ryan Ellis's RSS feed click here. To follow them on Twitter, their handle is @ryanlellis
