S.Amdt. 2492

SA 2492. Mr. KIM submitted an amendment intended to be proposed to
amendment SA 2360 proposed by Mr. Thune (for Mr. Graham) to the bill
H.R. 1, to provide for reconciliation pursuant to title II of H. Con.
Res. 14; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. __. TRUST FUND FOR PAYMENTS TO LOW- AND MIDDLE-INCOME
HOUSEHOLDS FROM TARIFF REVENUE.

(a) Establishment of Trust Fund.--There is established in
the Treasury of the United States a trust fund, consisting
of--
(1) amounts transferred to the trust fund under subsection
(b); and
(2) any amounts that may be credited to the trust fund
under subsection (c).
(b) Transfer of Amounts.--For each fiscal quarter in which
revenue from duties imposed on or after January 20, 2025,
exceeds $25,000,000,000, the Secretary of the Treasury shall
transfer to the trust fund established under subsection (a),
from the general fund of the Treasury, an amount equivalent
to the amount received into the general fund during that
quarter and attributable to such duties.
(c) Investment of Amounts.--
(1) Investment of amounts.--The Secretary shall invest such
portion of the trust fund established under subsection (a) as
is not required to meet current withdrawals in interest-
bearing obligations of the United States or in obligations
guaranteed as to both principal and interest by the United
States.
(2) Interest and proceeds.--The interest on, and the
proceeds from the sale or redemption of, any obligations held
in the trust fund established under subsection (a) shall be
credited to and form a part of the trust fund.
(d) Availability of Amounts in Trust Fund.--During each
fiscal quarter in which revenue from duties imposed on or
after January 20, 2025, exceeds $25,000,000,000, amounts in
the trust fund established under subsection (a) shall be
available, without further appropriation, to the Secretary to
provide payments to low- and middle-income households in the
United States.
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