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
116th Congress (2019–2021)
This bill was introduced on November 6, 2019, in a previous session of Congress, but it did not receive a vote.
Although this bill was not enacted, its provisions could have become law by being included in another bill. It is common for legislative text to be introduced concurrently in multiple bills (called companion bills), re-introduced in subsequent sessions of Congress in new bills, or added to larger bills (sometimes called omnibus bills).
9 Cosponsors (7 Republicans, 2 Democrats)
Position statements
What legislators are saying
“Rubio, Shaheen Urge Swift Committee Action on Their Bipartisan TSP Act”
—
Sen. Marco Rubio [R-FL]
(Sponsor)
on Nov 21, 2019
History
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Nov 6, 2019
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Introduced
Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber. |
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May 20, 2021
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Reintroduced Bill —
Introduced
This activity took place on a related bill, S. 1742 (117th). |
S. 2791 (116th) was 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.
This bill was introduced in the 116th Congress, which met from Jan 3, 2019 to Jan 3, 2021. Legislation not passed by the end of a Congress is cleared from the books.
How to cite this information.
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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.
