“It’s irresponsible for Congress to keep ignoring a preventable crisis. We must put in place a responsible process now to prevent dramatic cuts to programs like Social Security and Medicare or be forced to enact massive tax hikes down the road, both of which would be devastating to middle class Americans. We have a duty to work to secure these programs that provide a safety net for millions of Americans.” – Senator Mitt Romney
Senators Mitt Romney (R-UT) and Joe Manchin (D-WV), along with Senators Todd Young (R-IN), Doug Jones (D-AL) and Krysten Sinema (D-AZ), have come together to introduce the Time to Rescue United States’ Trusts (TRUST) Act.
This bipartisan legislation proposes congressional committees be formed specifically to develop legislation that will improve upon the endangered federal trust funds.
The TRUST Act would 45 days to compile reports overviewing the government trust funds. A “Rescue Committee” would then be formed for each trust and face the task of drafting legislation to restore and improve each fund.
The TRUST Act currently has 8 cosponsors and has been referred to the Committee on Homeland Security and Governmental Affairs.
“I have always said that our national budget should reflect our values and priorities, but be fiscally responsible. Unfortunately, our fiscal irresponsibility has left critical programs like Social Security and Medicare heading towards insolvency. Congress cannot let these programs fail. That’s why I’m proud to join my colleagues on this bipartisan bill to proactively help to secure sustainable funding for programs like these before it’s too late.” – Senator Joe Manchin