TRUST Act of 2020
Latest action · Aug 3, 2020 Referred to the Committee on Homeland Security and Governmental Affairs.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJul 27, 2020
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
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.
Cosponsors 15
Members who signed on, in the order they did. Signatures ran from Jul 27, 2020 to Aug 3, 2020; 14 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| I-ME | Angus S. King Jr. | Original | Jul 27, 2020 |
| R-AK | Dan Sullivan | Original | Jul 27, 2020 |
| R-GA | David Perdue | Original | Jul 27, 2020 |
| D-AL | Doug Jones | Original | Jul 27, 2020 |
| D-WV | Joe Manchin III | Original | Jul 27, 2020 |
| R-TX | John Cornyn | Original | Jul 27, 2020 |
| I-AZ | Kyrsten Sinema | Original | Jul 27, 2020 |
| R-TN | Lamar Alexander | Original | Jul 27, 2020 |
| D-VA | Mark R. Warner | Original | Jul 27, 2020 |
| R-AZ | Martha McSally | Original | Jul 27, 2020 |
| R-SD | Mike Rounds | Original | Jul 27, 2020 |
| R-OH | Rob Portman | Original | Jul 27, 2020 |
| R-WV | Shelley Moore Capito | Original | Jul 27, 2020 |
| R-IN | Todd Young | Original | Jul 27, 2020 |
| R-ND | Kevin Cramer | Aug 3, 2020 |
Committees 2
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Finance Committee | Referred Jul 27, 2020Discharged Aug 3, 2020 |
| Senate | Homeland Security and Governmental Affairs Committee | Referred Aug 3, 2020 |
Actions 4
Everything that happened, newest first.
- Aug 3, 2020Senate Committee on Finance discharged by Unanimous Consent.
- Aug 3, 2020Referred to the Committee on Homeland Security and Governmental Affairs.
- Jul 27, 2020Introduced in Senate
- Jul 27, 2020Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S4507)
In the Congressional Record 4
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| Senate | Debate and remarks S5620 | John Thune R-SD | Sep 16, 2020 |
| Senate | Debate and remarks S4677 | Mitch McConnell R-KY | Aug 3, 2020 |
| Senate | Debate and remarks S4569 | Todd Young R-IN | Jul 29, 2020 |
| Senate | Debate and remarks S4492, S4507 | Mitch McConnell R-KY, Mitt Romney R-UT | Jul 27, 2020 |
Related bills 3
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 1295 | TRUST Act of 2021 | Reintroduced Bill | Apr 21, 2021 |
| S 2733 | TRUST Act | Related bill | Jan 28, 2020 |
| HR 4907 | TRUST Act | Related bill | Oct 29, 2019 |
Titles 3
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to save and strengthen critical social contract programs of the Federal Government.
- Short Title(s) as Introduced
- TRUST Act of 2020
- Time to Rescue United States Trusts Act of 2020
Subjects
Assigned by the Library of Congress. Policy area: Economics and Public Finance.
Text 2
Each version as it was printed, newest first.
- Aug 3, 2020Reference Change Senate
- Jul 27, 2020Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
