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
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.
[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 2733 Introduced in Senate (IS)]
<DOC>
116th CONGRESS
1st Session
S. 2733
To save and strengthen critical social contract programs of the Federal
Government.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
October 29, 2019
Mr. Romney (for himself, Mr. Manchin, Mr. Young, Mr. Jones, and Ms.
Sinema) introduced the following bill; which was read twice and
referred to the Committee on Homeland Security and Governmental Affairs
_______________________________________________________________________
A BILL
To save and strengthen critical social contract programs of the Federal
Government.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Time to Rescue United States Trusts
Act'' or the ``TRUST Act''.
SEC. 2. DEFINITIONS.
In this Act:
(1) Co-chair.--The term ``co-chair'' means an individual
appointed to serve as a co-chair of a Rescue Committee under
section 4(a)(4)(C)(i).
(2) Critical social contract program.--The term ``critical
social contract program'' means a Federal program the Secretary
identifies in the report under section 3.
(3) Rescue committee.--The term ``Rescue Committee'' means
a committee established under section 4(a).
(4) Rescue committee bill.--The term ``Rescue Committee
bill'' means a bill consisting solely of legislative language
that a Rescue Committee approves and submits under clauses (i)
and (vi), respectively, of section 4(a)(3)(B).
(5) Secretary.--The term ``Secretary'' means the Secretary
of the Treasury.
SEC. 3. IDENTIFICATION OF CRITICAL SOCIAL CONTRACT PROGRAMS.
Not later than 45 days after the date of enactment of this Act, the
Secretary shall submit to Congress a report that identifies each
Federal program--
(1) for which a Federal trust fund is established;
(2) the amount of outlays of which, for the fiscal year
immediately preceding the fiscal year in which this Act is
enacted, were not less than $20,000,000,000; and
(3) the amount of dedicated Federal funds and Federal trust
fund balances that the Secretary determines will be inadequate,
on any date during the period beginning on the date of
enactment of this Act and ending on the last day of fiscal year
2035, to meet the total amount of outlays of the Federal
program that would otherwise be made.
SEC. 4. ESTABLISHMENT OF RESCUE COMMITTEES.
(a) Establishment of Rescue Committees.--
(1) Establishment.--On the date on which the Secretary
submits the report under section 3, there shall be established
a Rescue Committee for each critical social contract program.
(2) Goals.--The goals of each Rescue Committee shall be to,
with respect to the critical social contract program for which
the Rescue Committee is established--
(A) avoid depletion of the Federal trust fund
established for the critical social contract program;
(B) provide for the solvency of the Federal trust
fund established for the critical social contract
program during the 75-year period beginning on the date
described in paragraph (1);
(C) simplify the critical social contract program
to the extent practicable; and
(D) otherwise improve the critical social contract
program.
(3) Duties.--
(A) In general.--
(i) Improving critical social contract
programs.--Each Rescue Committee may develop
recommendations and legislative language that
will significantly improve the critical social
contract program for which the Rescue Committee
is established, including by--
(I) increasing the duration of
positive balances of the Federal trust
fund established for the critical
social contract program; and
(II) to the extent practicable,
providing for the solvency of the
Federal trust fund established for the
critical social contract program during
the 75-year period beginning on the
date described in paragraph (1).
(ii) Recommendations of committees.--Not
later than 30 days after the date described in
paragraph (1), each committee of the Senate and
the House of Representatives may transmit to
the relevant Rescue Committee any
recommendations of the committee relating to
changes in law to improve the critical social
contract program for which the Rescue Committee
is established in accordance with the goals of
the Rescue Committee described in paragraph
(2).
(B) Report, recommendations, and legislative
language.--
(i) In general.--Not later than November
12, 2020, each Rescue Committee shall meet to
consider, and may vote on--
(I) a report that contains a
detailed statement of the findings,
conclusions, and recommendations of the
Rescue Committee described in
subparagraph (A)(i) and the estimate of
the Congressional Budget Office
required under paragraph (5)(D)(ii);
and
(II) legislative language to carry
out the recommendations of the Rescue
Committee in the report described in
subclause (I), which shall include a
statement of the economic and budgetary
effects of the recommendations during
the 75-year period beginning on the
date described in paragraph (1).
(ii) Advisory nature.--Any proposed change
to the Standing Rules of the Senate or the
Rules of the House of Representatives included
in a report or legislative language under
clause (i) shall be considered to be merely
advisory.
(iii) Approval of report and legislative
language.--A report and legislative language of
a Rescue Committee under clause (i) shall
require the approval of a majority of the
members of the Rescue Committee, provided that
such majority shall be required to include not
less than 2 members of each party.
(iv) Additional views.--
(I) In general.--A member of a
Rescue Committee who gives notice of an
intention to file supplemental,
minority, or additional views at the
time of the final Rescue Committee vote
on the approval of the report and
legislative language of the Rescue
Committee under clause (i) shall be
entitled to 3 days to file those views
in writing with the staff director of
the Rescue Committee.
(II) Inclusion in report.--Views
filed under subclause (I) shall be
included in the report of the relevant
Rescue Committee under clause (i) and
printed in the same volume, or part
thereof, and such inclusion shall be
noted on the cover of the report,
except that, in the absence of timely
notice, the report may be printed and
transmitted immediately without such
views.
(v) Report and legislative language to be
made public.--Upon the approval or disapproval
of a report and legislative language under
clause (i) by a Rescue Committee, the Rescue
Committee shall promptly make the report, the
legislative language, and a record of the vote
on the report and legislative language
available to the public.
(vi) Submission of report and legislative
language.--If a report and legislative language
are approved by a Rescue Committee under clause
(i), not later than 3 days after the date on
which the report and legislative language are
made available to the public under clause (v),
the Rescue Committee shall submit the report
and legislative language to the President, the
Vice President, the Speaker of the House of
Representatives, and the majority and minority
leaders of each House of Congress.
(vii) Rule of construction.--Nothing in
this subparagraph shall be construed to
prohibit a Rescue Committee from voting on a
report and legislative language under clause
(i) before November 12, 2020.
(4) Membership.--
(A) In general.--Each Rescue Committee shall be
composed of 12 members appointed in accordance with
subparagraph (B).
(B) Appointment.--Not later than 14 days after the
date described in paragraph (1), with respect to each
Rescue Committee--
(i) the majority leader of the Senate shall
appoint 3 individuals from among the Members of
the Senate who shall serve as members of the
Rescue Committee;
(ii) the minority leader of the Senate
shall appoint 3 individuals from among the
Members of the Senate who shall serve as
members of the Rescue Committee;
(iii) the Speaker of the House of
Representatives shall appoint 3 individuals
from among the Members of the House of
Representatives who shall serve as members of
the Rescue Committee; and
(iv) the minority leader of the House of
Representatives shall appoint 3 individuals
from among the Members of the House of
Representatives who shall serve as members of
the Rescue Committee.
(C) Co-chairs.--
(i) In general.--Not later than 14 days
after the date described in paragraph (1), with
respect to each Rescue Committee--
(I) the majority leader of the
Senate shall appoint 1 individual from
among the members of the Rescue
Committee who shall serve as a co-chair
of the Rescue Committee; and
(II) the Speaker of the House of
Representatives shall appoint 1
individual from among the members of
the Rescue Committee who shall serve as
a co-chair of the Rescue Committee.
(ii) Staff director.--With respect to each
Rescue Committee, the co-chairs of the Rescue
Committee, acting jointly, shall hire the staff
director of the Rescue Committee.
(D) Period of appointment.--
(i) In general.--The members of a Rescue
Committee shall be appointed for the life of
the Rescue Committee.
(ii) Vacancy.--
(I) In general.--Any vacancy in a
Rescue Committee shall not affect the
powers of the Rescue Committee, but
shall be filled not later than 14 days
after the date on which the vacancy
occurs, in the same manner as the
original appointment was made.
(II) Ineligible members.--If a
member of a Rescue Committee ceases to
be a Member of the Senate or the House
of Representatives, as applicable--
(aa) the member shall no
longer be a member of the
Rescue Committee; and
(bb) a vacancy in the
Rescue Committee exists.
(5) Administration.--
(A) In general.--With respect to each Rescue
Committee, to enable the Rescue Committee to exercise
the powers, functions, and duties of the Rescue
Committee, there are authorized to be disbursed by the
Senate the actual and necessary expenses of the Rescue
Committee approved by the co-chairs of the Rescue
Committee, subject to the rules and regulations of the
Senate.
(B) Expenses.--With respect to each Rescue
Committee, in carrying out the functions of the Rescue
Committee, the Rescue Committee is authorized to incur
expenses in the same manner and under the same
conditions as the Joint Economic Committee is
authorized under section 11(d) of the Employment Act of
1946 (15 U.S.C. 1024(d)).
(C) Quorum.--With respect to each Rescue Committee,
7 members of the Rescue Committee shall constitute a
quorum for purposes of voting, meeting, and holding
hearings.
(D) Voting.--
(i) Proxy voting.--No proxy voting shall be
allowed on behalf of any member of a Rescue
Committee.
(ii) Congressional budget office
estimates.--
(I) In general.--The Director of
the Congressional Budget Office shall,
with respect to the legislative
language of a Rescue Committee under
paragraph (3)(B)(i)(II), provide to the
Rescue Committee--
(aa) estimates of the
legislative language in
accordance with sections 308(a)
and 201(f) of the Congressional
Budget Act of 1974 (2 U.S.C.
639(a) and 601(f)); and
(bb) information on the
budgetary effect of the
legislative language during the
75-year period beginning on the
date described in paragraph
(1).
(II) Limitation.--A Rescue
Committee may not vote on any version
of the report, recommendations, or
legislative language of the Rescue
Committee under paragraph (3)(B)(i)
unless the estimates and information
described in subclause (I) of this
clause are made available for
consideration by all members of the
Rescue Committee not later than 48
hours before that vote, as certified by
the co-chairs of the Rescue Committee.
(E) Meetings.--
(i) Initial meeting.--Not later than 45
days after the date described in paragraph (1),
each Rescue Committee shall hold the first
meeting of the Rescue Committee.
(ii) Agenda.--For each meeting of each
Rescue Committee, the co-chairs of the Rescue
Committee shall provide an agenda to the
members of the Rescue Committee not later than
48 hours before the meeting.
(F) Hearings.--
(i) In general.--Each Rescue Committee may,
for the purpose of carrying out this section,
hold such hearings, sit and act at such times
and places, require attendance of witnesses and
production of books, papers, and documents,
take such testimony, receive such evidence, and
administer such oaths as the Rescue Committee
considers advisable.
(ii) Hearing procedures and
responsibilities of co-chairs.--
(I) Announcement.--The co-chairs of
each Rescue Committee shall make a
public announcement of the date, place,
time, and subject matter of any hearing
to be conducted under this subparagraph
not later than 7 days before the date
of the hearing, unless the co-chairs
determine that there is good cause to
begin such hearing on an earlier date.
(II) Written statement.--A witness
appearing before a Rescue Committee
shall file a written statement of the
proposed testimony of the witness not
later than 2 days before the date of
the appearance of the witness, unless
the co-chairs of the Rescue Committee--
(aa) determine that there
is good cause for the witness
to not file the written
statement; and
(bb) waive the requirement
that the witness file the
written statement.
(G) Technical assistance.--Upon written request of
the co-chairs of a Rescue Committee, the head of a
Federal agency shall provide technical assistance to
the Rescue Committee in order for the Rescue Committee
to carry out the duties of the Rescue Committee.
(b) Staff of Rescue Committee.--
(1) In general.--The co-chairs of a Rescue Committee may
jointly appoint and fix the compensation of staff of the Rescue
Committee as the co-chairs determine necessary, in accordance
with the guidelines, rules, and requirements relating to
employees of the Senate.
(2) Ethical standards.--
(A) Senate.--Members of the Senate who serve on a
Rescue Committee and staff of the Rescue Committee
shall adhere to the ethics rules of the Senate.
(B) House of representatives.--Members of the House
of Representatives who serve on a Rescue Committee
shall be governed by the ethics rules and requirements
of the House of Representatives.
(c) Termination.--Each Rescue Committee shall terminate on the day
after the date of the sine die adjournment of the 116th Congress.
SEC. 5. EXPEDITED CONSIDERATION OF RESCUE COMMITTEE BILLS.
(a) Qualifying Legislation.--Only a Rescue Committee bill shall be
entitled to expedited consideration under this section.
(b) Consideration in the House of Representatives.--
(1) Introduction.--If a Rescue Committee approves and
submits legislative language under clauses (i) and (vi),
respectively, of section 4(a)(3)(B), a Rescue Committee bill
consisting solely of that legislative language may be
introduced in the House of Representatives (by request)--
(A) by the majority leader of the House of
Representatives, or by a Member of the House of
Representatives designated by the majority leader of
the House of Representatives, on the next legislative
day; or
(B) if the Rescue Committee bill is not introduced
under subparagraph (A), by any Member of the House of
Representatives on any legislative day beginning on the
legislative day after the legislative day described in
subparagraph (A).
(2) Referral and reporting.--Any committee of the House of
Representatives to which a Rescue Committee bill is referred
shall report the Rescue Committee bill to the House of
Representatives without amendment not later than 10 legislative
days after the date on which the Rescue Committee bill was so
referred. If a committee of the House of Representatives fails
to report a Rescue Committee bill within that period, it shall
be in order to move that the House of Representatives discharge
the committee from further consideration of the Rescue
Committee bill. Such a motion shall not be in order after the
last committee authorized to consider the Rescue Committee bill
reports it to the House of Representatives or after the House
of Representatives has disposed of a motion to discharge the
Rescue Committee bill. The previous question shall be
considered as ordered on the motion to its adoption without
intervening motion except 20 minutes of debate equally divided
and controlled by the proponent and an opponent. If such a
motion is adopted, the House of Representatives shall proceed
immediately to consider the Rescue Committee bill in accordance
with paragraphs (3) and (4). A motion to reconsider the vote by
which the motion is disposed of shall not be in order.
(3) Proceeding to consideration.--After the last committee
authorized to consider a Rescue Committee bill reports it to
the House of Representatives or has been discharged (other than
by motion) from its consideration, it shall be in order to move
to proceed to consider the Rescue Committee bill in the House
of Representatives. Such a motion shall not be in order after
the House of Representatives has disposed of a motion to
proceed with respect to the Rescue Committee bill. The previous
question shall be considered as ordered on the motion to its
adoption without intervening motion. A motion to reconsider the
vote by which the motion is disposed of shall not be in order.
(4) Consideration.--The Rescue Committee bill shall be
considered as read. All points of order against the Rescue
Committee bill and against its consideration are waived. The
previous question shall be considered as ordered on the Rescue
Committee bill to its passage without intervening motion except
2 hours of debate equally divided and controlled by the
proponent and an opponent and 1 motion to limit debate on the
Rescue Committee bill. A motion to reconsider the vote on
passage of the Rescue Committee bill shall not be in order.
(5) Vote on passage.--The vote on passage of the Rescue
Committee bill shall occur not later than 3 legislative days
after the date on which the last committee authorized to
consider the Rescue Committee bill reports it to the House of
Representatives or is discharged.
(c) Expedited Procedure in the Senate.--
(1) Introduction in the senate.--If a Rescue Committee
approves and submits legislative language under clauses (i) and
(vi), respectively, of section 4(a)(3)(B), a Rescue Committee
bill consisting solely of that legislative language may be
introduced in the Senate (by request)--
(A) by the majority leader of the Senate, or by a
Member of the Senate designated by the majority leader
of the Senate, on the next day on which the Senate is
in session; or
(B) if the Rescue Committee bill is not introduced
under subparagraph (A), by any Member of the Senate on
any day on which the Senate is in session beginning on
the day after the day described in subparagraph (A).
(2) Committee consideration.--A Rescue Committee bill
introduced in the Senate under paragraph (1) shall be jointly
referred to the committee or committees of jurisdiction, which
committees shall report the Rescue Committee bill without any
revision and with a favorable recommendation, an unfavorable
recommendation, or without recommendation, not later than 10
session days after the date on which the Rescue Committee bill
was so referred. If any committee to which a Rescue Committee
bill is referred fails to report the Rescue Committee bill
within that period, that committee shall be automatically
discharged from consideration of the Rescue Committee bill, and
the Rescue Committee bill shall be placed on the appropriate
calendar.
(3) Proceeding.--Notwithstanding rule XXII of the Standing
Rules of the Senate, it is in order, not later than 2 days of
session after the date on which a Rescue Committee bill is
reported or discharged from all committees to which the Rescue
Committee bill was referred, for the majority leader of the
Senate or the designee of the majority leader to move to
proceed to the consideration of the Rescue Committee bill. It
shall also be in order for any Member of the Senate to move to
proceed to the consideration of the Rescue Committee bill at
any time after the conclusion of such 2-day period. A motion to
proceed is in order even though a previous motion to the same
effect has been disagreed to. All points of order against the
motion to proceed to the Rescue Committee bill are waived. The
motion to proceed is not debatable. The motion is not subject
to a motion to postpone. A motion to reconsider the vote by
which the motion is agreed to or disagreed to shall not be in
order. If a motion to proceed to the consideration of the
Rescue Committee bill is agreed to, the Rescue Committee bill
shall remain the unfinished business until disposed of. All
points of order against a Rescue Committee bill and against
consideration of the Rescue Committee bill are waived.
(4) No amendments.--An amendment to a Rescue Committee
bill, or a motion to postpone, or a motion to proceed to the
consideration of other business, or a motion to recommit the
Rescue Committee bill, is not in order.
(5) Rulings of the chair on procedure.--Appeals from the
decisions of the Chair relating to the application of the rules
of the Senate, as the case may be, to the procedure relating to
a Rescue Committee bill shall be decided without debate.
(d) Amendment.--A Rescue Committee bill shall not be subject to
amendment in either the Senate or the House of Representatives.
(e) Consideration by the Other House.--
(1) In general.--If, before passing a Rescue Committee
bill, a House receives from the other House a Rescue Committee
bill consisting of legislative language approved by the same
Rescue Committee as the Rescue Committee bill in the receiving
House--
(A) the Rescue Committee bill of the other House
shall not be referred to a committee; and
(B) the procedure in the receiving House shall be
the same as if no Rescue Committee bill had been
received from the other House until the vote on
passage, when the Rescue Committee bill received from
the other House shall supplant the Rescue Committee
bill of the receiving House.
(2) Revenue measures.--This subsection shall not apply to
the House of Representatives if a Rescue Committee bill
received from the Senate is a revenue measure.
(f) Rules To Coordinate Action With Other House.--
(1) Treatment of rescue committee bill of other house.--If
a Rescue Committee bill is not introduced in the Senate or the
Senate fails to consider a Rescue Committee bill under this
section, the Rescue Committee bill of the House of
Representatives consisting of legislative language approved by
the same Rescue Committee as the Rescue Committee bill in the
Senate shall be entitled to expedited floor procedures under
this section.
(2) Treatment of companion measures in the senate.--If,
following passage of a Rescue Committee bill in the Senate, the
Senate then receives from the House of Representatives a Rescue
Committee bill approved by the same Rescue Committee and
consisting of the same legislative language as the Senate-
passed Rescue Committee bill, the House-passed Rescue Committee
bill shall not be debatable. The vote on passage of the Rescue
Committee bill in the Senate shall be considered to be the vote
on passage of the Rescue Committee bill received from the House
of Representatives.
(3) Vetoes.--If the President vetoes a Rescue Committee
bill, consideration of a veto message in the Senate under this
paragraph shall be 10 hours equally divided between the
majority and minority leaders of the Senate or the designees of
the majority and minority leaders of the Senate.
SEC. 6. FUNDING.
Funding for each Rescue Committee shall be derived in equal
portions from--
(1) the contingent fund of the Senate from the
appropriations account ``Miscellaneous Items'', subject to the
rules and regulations of the Senate; and
(2) the applicable accounts of the House of
Representatives.
SEC. 7. RULEMAKING.
The provisions of this Act are enacted by Congress--
(1) as an exercise of the rulemaking power of the Senate
and the House of Representatives, respectively, and, as such,
the provisions--
(A) shall be considered as part of the rules of
each House, respectively, or of that House to which
they specifically apply; and
(B) shall supersede other rules only to the extent
that they are inconsistent therewith; and
(2) with full recognition of the constitutional right of
either House to change such rules (so far as relating to such
House) at any time, in the same manner, and to the same extent
as in the case of any other rule of such House.
<all>
Introduced in Senate
Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Committee on Homeland Security and Governmental Affairs. Hearings held. Hearings printed: S.Hrg. 116-186.
Committee on Homeland Security and Governmental Affairs. Hearings held.
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