Butch Lewis Act Would Cost ‘Just $34 Billion,’ Dems Argue

Senate Democrats are highlighting the publication of the Congressional Budget Office’s scoring of proposed legislation known as the Butch Lewis Act, which seeks to “put union pension plans back on solid footing” via the launch of an emergency government loan program. 

Advocacy Group Fighting Tax That Could Hit Retirement Plans

While an analysis by Modern Markets Initiative focuses specifically on public pension funds, the company notes that the tax will affect all defined benefit (DB) plans, individual retirement accounts (IRAs), defined contribution (DC) plans and individual investors.