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TRUST Act

USA116th CongressS-2733| Senate 
| Updated: 1/28/2020
Mitt Romney

Mitt Romney

Republican Senator

Utah

Cosponsors (14)
Dan Sullivan (Republican)David Perdue (Republican)Lamar Alexander (Republican)Todd Young (Republican)Mark R. Warner (Democratic)Angus S. King (Independent)Martha McSally (Republican)Doug Jones (Democratic)Kyrsten Sinema (Independent)Joe Manchin (Independent)Mike Rounds (Republican)John Cornyn (Republican)Rob Portman (Republican)Shelley Moore Capito (Republican)

Homeland Security and Governmental Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Time to Rescue United States Trusts Act or the TRUST Act This bill establishes congressional rescue committees to develop recommendations and legislation to improve critical social contract programs. A critical social contract program is a federal program for which a federal trust fund is established (e.g., Social Security, Medicare, and federal highway programs), with outlays of at least $20 billion during the year preceding the year in which this bill is enacted, and for which the amount of dedicated federal funds and federal trust fund balances will be inadequate to meet the total amount of outlays of the program that would otherwise be made. Each rescue committee may develop recommendations and legislation to improve the program for which it was established, including by (1) increasing the duration of positive balances of the federal trust fund established for the program, and (2) providing for the solvency of the federal trust fund established for the program during a 75-year period. Congress must use specified expedited legislative procedures to consider legislation that is approved and submitted by the rescue committees.
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Timeline
Oct 29, 2019

Latest Companion Bill Action

HR 116-4907
Introduced in House
Oct 29, 2019
Introduced in Senate
Oct 29, 2019
Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Jan 28, 2020
Committee on Homeland Security and Governmental Affairs. Hearings held.
Jan 28, 2020
Committee on Homeland Security and Governmental Affairs. Hearings held. Hearings printed: S.Hrg. 116-186.
  • October 29, 2019

    Latest Companion Bill Action

    HR 116-4907
    Introduced in House


  • October 29, 2019
    Introduced in Senate


  • October 29, 2019
    Read twice and referred to the Committee on Homeland Security and Governmental Affairs.


  • January 28, 2020
    Committee on Homeland Security and Governmental Affairs. Hearings held.


  • January 28, 2020
    Committee on Homeland Security and Governmental Affairs. Hearings held. Hearings printed: S.Hrg. 116-186.

Economics and Public Finance

Related Bills

  • HR 116-4907: TRUST Act
  • S 116-4323: TRUST Act of 2020
Budget processCongressional oversightGovernment trust fundsLegislative rules and procedure

TRUST Act

USA116th CongressS-2733| Senate 
| Updated: 1/28/2020
Time to Rescue United States Trusts Act or the TRUST Act This bill establishes congressional rescue committees to develop recommendations and legislation to improve critical social contract programs. A critical social contract program is a federal program for which a federal trust fund is established (e.g., Social Security, Medicare, and federal highway programs), with outlays of at least $20 billion during the year preceding the year in which this bill is enacted, and for which the amount of dedicated federal funds and federal trust fund balances will be inadequate to meet the total amount of outlays of the program that would otherwise be made. Each rescue committee may develop recommendations and legislation to improve the program for which it was established, including by (1) increasing the duration of positive balances of the federal trust fund established for the program, and (2) providing for the solvency of the federal trust fund established for the program during a 75-year period. Congress must use specified expedited legislative procedures to consider legislation that is approved and submitted by the rescue committees.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Oct 29, 2019

Latest Companion Bill Action

HR 116-4907
Introduced in House
Oct 29, 2019
Introduced in Senate
Oct 29, 2019
Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Jan 28, 2020
Committee on Homeland Security and Governmental Affairs. Hearings held.
Jan 28, 2020
Committee on Homeland Security and Governmental Affairs. Hearings held. Hearings printed: S.Hrg. 116-186.
  • October 29, 2019

    Latest Companion Bill Action

    HR 116-4907
    Introduced in House


  • October 29, 2019
    Introduced in Senate


  • October 29, 2019
    Read twice and referred to the Committee on Homeland Security and Governmental Affairs.


  • January 28, 2020
    Committee on Homeland Security and Governmental Affairs. Hearings held.


  • January 28, 2020
    Committee on Homeland Security and Governmental Affairs. Hearings held. Hearings printed: S.Hrg. 116-186.
Mitt Romney

Mitt Romney

Republican Senator

Utah

Cosponsors (14)
Dan Sullivan (Republican)David Perdue (Republican)Lamar Alexander (Republican)Todd Young (Republican)Mark R. Warner (Democratic)Angus S. King (Independent)Martha McSally (Republican)Doug Jones (Democratic)Kyrsten Sinema (Independent)Joe Manchin (Independent)Mike Rounds (Republican)John Cornyn (Republican)Rob Portman (Republican)Shelley Moore Capito (Republican)

Homeland Security and Governmental Affairs Committee

Economics and Public Finance

Related Bills

  • HR 116-4907: TRUST Act
  • S 116-4323: TRUST Act of 2020
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Budget processCongressional oversightGovernment trust fundsLegislative rules and procedure