Bill Sponsor
House Bill 2575
117th Congress(2021-2022)
TRUST Act of 2021
Introduced
Introduced
Introduced in House on Apr 15, 2021
Overview
Text
Introduced
Apr 15, 2021
Latest Action
Apr 15, 2021
Origin Chamber
House
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
2575
Congress
117
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.
Sponsorship by Party
Republican
Wisconsin
Democrat
California
Democrat
Hawaii
Republican
Michigan
Democrat
Minnesota
Republican
Nebraska
Republican
New Jersey
Republican
South Carolina
Republican
South Carolina
Republican
South Dakota
House Votes (0)
Senate Votes (0)
No House votes have been held for this bill.
Summary

Time to Rescue United States Trusts Act of 2021 or the TRUST Act of 2021

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.

Text (1)
April 15, 2021
Actions (2)
04/15/2021
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.
04/15/2021
Introduced in House
Public Record
Record Updated
Mar 8, 2023 7:58:55 PM