S. 4323 · 116th Congress
TRUST Act of 2020
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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RomneySponsor15 cosponsors · 4 D, 10 R, 1 I
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Alexander
SC
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Capito
JC
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Cornyn
DJ
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Jones
AK
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King
JM
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Manchin
MM
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McSally
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Portman
DP
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Perdue
MR
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Rounds
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Sinema
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Sullivan
MW
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Warner
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Young
KC
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Cramer14 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Time to Rescue United States Trusts Act of 2020 or the TRUST Act of 2020
What it does: CRS summary · Introduced in Senate · Jul 27, 2020
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: TRUST Act of 2020
Also known as: Time to Rescue United States Trusts Act of 2020
Latest action (Aug 3, 2020): Referred to the Committee on Homeland Security and Governmental Affairs.
Policy area: Economics and Public Finance · Origin: Senate · Introduced: Jul 27, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.