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S. 2791: Taxpayers and Savers Protection Act

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About the bill

Millions of military members, veterans, and federal employees could unwittingly be putting their money behind Chinese-owned corporations.

Context

The federal government’s Thrift Savings Plan (TSP) is a retirement investment program for federal employees and military members. As of February, it held $631.3 billion in assets and had 5.8 million participants. Essentially, it’s a public sector equivalent to a private sector 401(k) plan.

The program is administered by the five-member Federal Retirement Thrift Investment Board (FRTIB). Republicans claim that “all five [board members] were appointed by President Obama,” which is technically true. However, two of them — Michael Kennedy and David Jones — were most recently confirmed in 2015 by a Republican Senate.

A board-approved change in 2017, scheduled to go into effect this year, would move one ...

Sponsor and status

Marco Rubio

Sponsor. Senior Senator for Florida. Republican.

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Last Updated: Nov 6, 2019
Length: 3 pages
Introduced
Nov 6, 2019
116th Congress (2019–2021)
Status

Introduced on Nov 6, 2019

This bill is in the first stage of the legislative process. It was introduced into Congress on November 6, 2019. It will typically be considered by committee next before it is possibly sent on to the House or Senate as a whole.

Prognosis
2% chance of being enacted according to Skopos Labs (details)
Source

History

Nov 6, 2019
 
Introduced

Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.

If this bill has further action, the following steps may occur next:
 
Passed Committee

 
Passed Senate

 
Passed House

 
Signed by the President

S. 2791 is a bill in the United States Congress.

A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.

Bills numbers restart every two years. That means there are other bills with the number S. 2791. This is the one from the 116th Congress.

How to cite this information.

We recommend the following MLA-formatted citation when using the information you see here in academic work:

“S. 2791 — 116th Congress: Taxpayers and Savers Protection Act.” www.GovTrack.us. 2019. October 25, 2020 <https://www.govtrack.us/congress/bills/116/s2791>

Where is this information from?

GovTrack automatically collects legislative information from a variety of governmental and non-governmental sources. This page is sourced primarily from Congress.gov, the official portal of the United States Congress. Congress.gov is generally updated one day after events occur, and so legislative activity shown here may be one day behind. Data via the congress project.