TRUST Act

3.0.0 4323 2023-01-11T13:45:35Z 2023-01-11T13:45:35Z Senate S 2020-07-27 116 ssga00 Homeland Security and Governmental Affairs Committee Senate Standing Referred to 2020-08-03T22:11:56Z ssfi00 Finance Committee Senate Standing Discharged from 2020-08-03T22:11:45Z Referred to 2020-07-27T22:40:02Z TRUST Act 116 4907 HR 2019-10-29 Referred to the Committee on Oversight and Reform, and in addition to the Committees on Rules, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Related bill CRS TRUST Act 116 2733 S 2020-01-28 Committee on Homeland Security and Governmental Affairs. Hearings held. Related bill CRS 2020-08-03 ssga00 Homeland Security and Governmental Affairs Committee Senate Referred to the Committee on Homeland Security and Governmental Affairs. IntroReferral 2020-08-03 ssfi00 Finance Committee Senate Senate Committee on Finance discharged by Unanimous Consent. Discharge 2020-08-03 Senate Committee on Finance discharged by Unanimous Consent. Committee 14500 9 Library of Congress ssfi00 Finance Committee 2020-07-27 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S4507) IntroReferral 2020-07-27 Introduced in Senate IntroReferral 10000 9 Library of Congress R000615 Sen. Romney, Mitt [R-UT] Mitt Romney R UT N M001183 Sen. Manchin, Joe, III [D-WV] Joseph Manchin D WV 2020-07-27 True Y000064 Sen. Young, Todd [R-IN] Todd Young R IN C. 2020-07-27 True S001191 Sen. Sinema, Kyrsten [D-AZ] Kyrsten Sinema D AZ 2020-07-27 True C001047 Sen. Capito, Shelley Moore [R-WV] Shelley Capito R WV Moore 2020-07-27 True J000300 Sen. Jones, Doug [D-AL] Doug Jones D AL 2020-07-27 True A000360 Sen. Alexander, Lamar [R-TN] Lamar Alexander R TN 2020-07-27 True K000383 Sen. King, Angus S., Jr. [I-ME] Angus King I ME S. 2020-07-27 True P000449 Sen. Portman, Rob [R-OH] Rob Portman R OH 2020-07-27 True W000805 Sen. Warner, Mark R. [D-VA] Mark Warner D VA R. 2020-07-27 True P000612 Sen. Perdue, David [R-GA] David Perdue R GA Alfred 2020-07-27 True C001056 Sen. Cornyn, John [R-TX] John Cornyn R TX 2020-07-27 True M001197 Sen. McSally, Martha [R-AZ] Martha McSally R AZ 2020-07-27 True R000605 Sen. Rounds, Mike [R-SD] Mike Rounds R SD 2020-07-27 True S001198 Sen. Sullivan, Dan [R-AK] Dan Sullivan R AK 2020-07-27 True C001096 Sen. Cramer, Kevin [R-ND] Kevin Cramer R ND 2020-08-03 False Economics and Public Finance Budget process Congressional oversight Government trust funds Legislative rules and procedure Economics and Public Finance

00 2020-07-27 Introduced in Senate 2020-08-05T11:15:09Z Time to Rescue United States Trusts Act of 2020 or the TRUST Act of 2020

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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TRUST Act of 2020 Display Title TRUST Act of 2020 Short Title(s) as Introduced TRUST Act of 2020 Introduced in Senate IS Short Title(s) as Introduced Time to Rescue United States Trusts Act of 2020 Introduced in Senate IS Official Title as Introduced A bill to save and strengthen critical social contract programs of the Federal Government. Introduced in Senate IS Reference Change Senate 2020-08-03T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s4323rcs/xml/BILLS-116s4323rcs.xml Introduced in Senate 2020-07-27T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s4323is/xml/BILLS-116s4323is.xml 2020-08-03 Referred to the Committee on Homeland Security and Governmental Affairs. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.