HR 4907 116th Congress House Economics and Public Finance Budget process Congressional oversight Government trust funds Legislative rules and procedure

TRUST Act

Introduced: October 29, 2019 See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Oct 29, 2019

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.

Oct 29, 2019

Introduced in House

Plain-English summary Congressional Research Service

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.

What's happening now October 29, 2019

Committees of jurisdiction 3