Rep. Moran, Texas, unveils trust bill to use tariff revenue to reduce debt

First on Fox: Rep. Nathaniel Moran, Texas, is turning tariffs into debt instruments, announcing legislation will integrate billions of dollars in new trade revenue into a trust fund that aims to shrink only the staggering $37 trillion in the U.S. Treasury bonds.

The Act for Acquisition of Tariff Income (Trust) to acquire tomorrow will create a special account at the Ministry of Finance called the “Tariff Trust Fund.” Starting from fiscal 2026, any tariffs charged above the 2025 baseline level will automatically enter the fund. By law, the money can only be spent in one way: shrinking the federal deficit whenever the government runs in red.

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“President Trump’s bold use of tariffs has proven to be effective in bringing foreign countries back to the negotiating table and getting a better trade deal for the United States. Short-term success has generated record revenues, and now we need to make sure Washington doesn’t waste them.”

“The Trust Act ensures that these dollars need the most – in reducing our country’s debt and protecting our country’s financial future.”

Moran’s legislation comes after the U.S. collects more than $31 billion Tariff revenue August, the highest monthly total to date in 2025. According to the “customs and certain consumption taxes” data released by the Ministry of Finance on August 29, tariff revenue in 2025 has exceeded US$183.6 million.

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Tariff revenues steadily grew from $17.4 billion in April to $23.9 billion in May, before climbing to $28 billion in June and reaching $29 billion in July. At the current rate, the United States can charge as much tariff revenue as the previous year in just four to five months. At this point in the fiscal year 2024, tariff revenue was $86.5 billion.

Year-on-year comparison of tariff payments. (US Treasury)

The surge in revenue coincides with the federal appeals court’s ruling Donald Trump By using emergency powers to impose global tariffs, it surpassed his powers.

The court said in its August 29 ruling that the power to set such tariffs is exactly what Congress or the existing trade policy framework. The ruling will not affect tariffs imposed by other legal authorities, such as Trump’s tax on steel and aluminum imports.

Attorney General Pam Bondi The Justice Department will appeal to the Supreme Court. Meanwhile, the court allowed the tariffs to last until October 14.

Minister of Finance Scott Bessent It has previously stated that the Trump administration can use a portion of tariff revenue to reduce national debt.

Treasury Secretary Scott Bessent held a House Committee hearing in Washington, DC on June 11, 2025. (Eric Lee/Bloomberg/Getty Images)

The debt of the United States is the amount owed to creditors, and is about to be close $37.4 trillion According to the Ministry of Finance, as of September 3.

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The astonishing figure intensifies Washington’s debate over government spending, taxes and efforts to control the balloon deficit.

“Complaint is no longer an option. We must act urgently and start reducing our national debt immediately,” Moran added in a statement.

Bessent previously said the tariffs could bring more than $500 billion in revenue to the federal government. U.S. businesses pay these import taxes to the federal government, but the expenses usually fall on consumers as companies raise prices to offset the financial burden.