As reported by the Senate Committee on Finance on November 16, 2016
S. 3470 would authorize payments for health and pension benefits for certain retired or disabled coal miners and their eligible dependents. Such payments would be made to the United Mine Workers of America (UMWA) Health and Retirement Funds, a group of multiemployer plans that provide benefits to retirees from the coal industry. The bill also would extend the authority to collect and increase the rate of certain customs user fees.
CBO and the staff of the Joint Committee on Taxation (JCT) estimate that enacting the bill would reduce direct spending, on net, by $7 million and increase federal revenues by $67 million over the 2017-2026 period. Considering both the direct spending and revenue effects, we estimate that enacting S. 3470 would reduce budget deficits, on net, by $74 million over the 2017-2026 period.
Pay-as-you-go procedures apply because enacting the legislation would affect direct spending and revenues. CBO estimates that enacting the legislation would not increase net direct spending or on-budget deficits by more than $5 billion in any of the four consecutive 10-year periods beginning in 2027.
CBO has determined that the nontax provisions of the bill contain no intergovernmental mandates as defined in the Unfunded Mandates Reform Act (UMRA).
CBO has determined that the nontax provisions of the bill contain private-sector mandates on users of customs services, the trustees of the UMWA 1974 Pension Plan, and administrators of certain associations. CBO estimates that cost of the mandates on trustees and administrators would be small. However, CBO estimates that the incremental cost of the mandate on users of customs services would amount to about $3.1 billion in 2026 and would greatly exceed the annual threshold established in UMRA for private-sector mandates ($154 million in 2016, adjusted annually for inflation) in that year.
JCT has determined that the tax provisions of the bill contain no intergovernmental or private-sector mandates.