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Energy for America’s Economic Future Act
A bill to establish a debt reduction fund to reduce the national debt of the United States, and for other purposes.
- Introduced
- Committee
- Passed Senate
- Passed House
- To President
- Became law
Summary
Energy for America’s Economic Future Act
This bill establishes a fund to reduce the principal of the federal debt. Each fiscal quarter, 25% of the total revenue generated by activities relating to advancing artificial intelligence infrastructure in the United States as well as 25% of the total revenue generated by federal oil and gas lease sales must be deposited into the fund. Total revenue includes bonus bid amounts collected at the time of an oil or gas lease sale, as well as royalties, rental payments, and fees accrued over the life of the lease that were disbursed to the Treasury as miscellaneous receipts.
Summary by the Congressional Research Service, Library of Congress.
Actions
- Jan 21, 2025 Read twice and referred to the Committee on Energy and Natural Resources.
- Jan 21, 2025 Introduced in Senate
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