Bill Summary
The "Tariff Revenue Used to Secure Tomorrow Act" (TRUST Act) establishes a dedicated Tariff Trust Fund within the U.S. Treasury to support deficit reduction efforts. The key provisions of the legislation include:
1. **Establishment of the Fund**: A Tariff Trust Fund is created to collect additional tariff revenues.
2. **Deposit of Funds**: Starting from fiscal year 2026, if the U.S. maintains a budget deficit and continues to do so in the following year, any tariff revenue exceeding amounts collected in fiscal year 2025 will be deposited into this Fund.
3. **Use of Funds**: The money collected in the Fund will be transferred to the general fund of the Treasury and specifically earmarked for deficit reduction purposes.
4. **Effective Date**: The Act will take effect upon its enactment and apply to tariff revenues collected from October 1, 2025, onward.
In summary, the TRUST Act aims to leverage increased tariff revenues to help address the federal budget deficit.
Possible Impacts
Here are three examples of how the proposed "Tariff Revenue Used to Secure Tomorrow Act" (TRUST Act) could affect people:
1. **Increased Prices on Imported Goods**: If the government raises tariffs on certain imported products to generate revenue for the Tariff Trust Fund, consumers may face higher prices for those goods. This could lead to increased costs of living, especially for lower-income households that may rely on affordable imported items. As tariffs generally increase the cost of goods, consumers may have to adjust their budgets to accommodate these changes.
2. **Impact on Domestic Industries**: The establishment of the Tariff Trust Fund could create a protective environment for some domestic industries by making imported goods more expensive. For instance, if tariffs are imposed on foreign steel to support the domestic steel industry, it could lead to job growth in that sector. Conversely, industries reliant on imported materials may face higher production costs, which could lead to layoffs or reduced competitiveness in the global market.
3. **Deficit Reduction Benefits**: The funds collected through increased tariffs earmarked for deficit reduction could lead to a more stable economy in the long term. If the government successfully reduces the national deficit using these funds, it may lead to lower interest rates, which could benefit individuals and businesses looking to borrow money. A stronger fiscal position could also enhance public services or reduce the need for future tax increases, positively impacting the economic well-being of citizens.
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5153 Introduced in House (IH)]
<DOC>
119th CONGRESS
1st Session
H. R. 5153
To establish the Tariff Trust Fund to be used for deficit reduction
purposes, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
September 4, 2025
Mr. Moran introduced the following bill; which was referred to the
Committee on Ways and Means
_______________________________________________________________________
A BILL
To establish the Tariff Trust Fund to be used for deficit reduction
purposes, and for other purposes.
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 ``Tariff Revenue Used to Secure
Tomorrow Act'' or ``TRUST Act''.
SEC. 2. TARIFF TRUST FUND.
(a) Establishment.--There is hereby established in the Treasury of
the United States a fund to be known as the ``Tariff Trust Fund'' (in
this section referred to as the ``Fund'').
(b) Deposit of Funds.--Notwithstanding any other provision of law,
if the United States--
(1) maintains a budget deficit for any fiscal year
beginning with fiscal year 2026, and
(2) continues to maintain a budget deficit for the
subsequent fiscal year,
amounts collected from the imposition of duties under any provision of
law for such subsequent fiscal year that are in excess of the amount
collected from the imposition of duties under any provision of law for
fiscal year 2025 shall be deposited in the Fund established by
subsection (a).
(c) Use of Funds.--Amounts deposited in the Fund under subsection
(b) shall be transferred to the general fund of the Treasury and used
only for deficit reduction.
(d) Effective Date.--This Act shall take effect on the date of the
enactment of this Act and shall apply with respect to amounts collected
from the imposition of duties beginning on and after October 1, 2025.
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