Time to Rescue United States’ Trusts Act
a bipartisan, bicameral plan
THE PROBLEM
Unless Congress acts now, our country’s largest federal trust funds will go broke in
the near future—threatening middle-class Americans with massive tax hikes or a large
increase in deficit spending. Some economists predict coronavirus-related spending may
speed up these deadlines, making action all the more urgent. Our projected federal
budget deficit for this year could exceed $3.7 trillion.

THE SOLUTION
The TRUST Act would create a process for legislation to rescue each of the major,
endangered trust funds.

HOW IT WORKS
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Creates Congressional leadership-appointed “Rescue Committees”—one per trust
fund.
Ensures Rescue Committees would forge bipartisan consensus by requiring at least
two members of each party to report legislation.
If a Rescue Committee reports a qualifying bill for its trust fund program:
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Expedites the path for consideration in both chambers
Maintains the 60 vote threshold prior to final passage in the Senate

CO-SPONSORS
Senate: Romney (R-UT), Manchin (D-WV), Young (R-IN), Jones (D-AL), Sinema (D-AZ), Capito (R-WV),
Alexander (R-TN), Rounds (R-SD), King (I-ME), Warner (D-VA), Portman (R-OH), Cornyn (R-TX),
Perdue (R-GA), McSally (R-AZ), Sullivan (R-AK)
House companion bill led by Gallagher (R-WI), Case (D-HI), Timmons (R-SC), McAdams (D-UT), Peters (D-CA)

 Current GAO projections do not factor in the impacts of coronavirus relief
spending. The Committee for a Responsible Federal Budget projects that, when
taking into account coronavirus relief spending, many of our largest trust funds may
run dry sooner than expected.

TRUST FUND

Highway
Trust Fund

Medicare
Part A

Social Security
Old-Age &
Survivors
Insurance
Trust Fund

YEARS

1

2021

4

2024

11
2031