119th Congress Economics and Public Finance
H.R. 5153: TRUST Act
Introduced
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill establishes the Tariff Trust Fund within the Treasury and requires certain revenues collected from duties (e.g., tariffs) to be deposited into the fund and used for deficit reduction.
If the federal government maintains a budget deficit for any fiscal year beginning with FY2026 and continues to maintain a budget deficit for the subsequent fiscal year, the bill requires amounts collected from the imposition of duties for the subsequent fiscal year that exceed the amounts collected from duties for FY2025 to be deposited into the fund established by this bill.
Any amounts deposited into the fund must be transferred to the general fund of the Treasury and may only be used for deficit reduction.
Written by the Congressional Research Service, Library of Congress.
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Amendments
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Other bills by Nathaniel Moran
History
- Introduced in the House by Nathaniel Moran.
Show the full action history (2 actions)
- Introduced in House
- Referred to the House Committee on Ways and Means.