S.Amdt. 2492

MR. KIM submitted amendment SA 2492 to be proposed to another amendment to the bill H.R. 1. If we want to hold our officials accountable, it helps to look at what this specific proposal actually does with our money.

Purpose and Changes

The amendment aims to add a new section to the bill that sets up a trust fund in the Treasury of the United States. This trust fund is meant for payments to low- and middle-income households in the United States.

• Establishment of Trust Fund: Creates a new fund made up of transferred amounts and credited amounts.
• Transfer of Amounts: Requires the Secretary of the Treasury to transfer money from the general fund of the Treasury to the trust fund for each fiscal quarter where revenue from duties imposed on or after January 20, 2025, goes over $25,000,000,000.
• Investment of Amounts: Directs the Secretary to invest the extra trust fund money in U.S. obligations, and any interest or proceeds go right back into the trust fund.
• Availability of Amounts: Makes the money in the trust fund available to the Secretary without further appropriation to provide payments to low- and middle-income U.S. households during those same qualifying quarters.