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EconomyH.R. 5153Not Yet VotedComments

TRUST Act

Official title: To establish the Tariff Trust Fund to be used for deficit reduction purposes, and for other purposes.

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What Happened in Congress?

Pending

Not yet voted on the floor.

Where the Bill Stands

  1. Introduced, done
  2. Committee, current stage
  3. Floor Vote, not yet
  4. Outcome, not yet

What This Bill Does

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.

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Related Documents

Bill on Congress.govWeb Page ↗ (opens in a new tab)

Timeline

  1. Library of CongressIntroduced in House
  2. House floor actionsReferred to the House Committee on Ways and Means.
  3. Introduced
  4. Committee

Comments

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