Second, you said that the cost of capital will go up for companies that have defined benefit plans. This is actually, to me, a virtue of the bill, and let me tell you why.
I worry about the fact that CEOs have underfunded their pensions for a long time and have said that problem is for the next CEO or another CEO down the line. Then when the pension problem emerges, the CEO who caused it in the first place is long retired and on his yacht in the Caribbean while the workers are left holding the bag.
Doesn't this bill bring the real cost of underfunding a pension into the present by making it more expensive for companies that don't properly fund pensions to raise money?