Senate Bill 2733
116th Congress(2019-2020)
TRUST Act
Introduced
Introduced in Senate on Oct 29, 2019
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
2733
Congress
116
Policy Area
Economics and Public Finance
Economics and Public Finance
Primary focus of measure is budgetary matters such as appropriations, public debt, the budget process, government lending, government accounts and trust funds; monetary policy and inflation; economic development, performance, and economic theory.
No Senate votes have been held for this bill.
Summary
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.
October 29, 2019
01/28/2020
Committee on Homeland Security and Governmental Affairs. Hearings held.
10/29/2019
Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
10/29/2019
Introduced in Senate
Public Record
Record Updated
Nov 1, 2022 4:32:33 AM