S. 168 · 119th Congress

Energy for America’s Economic Future Act

In committee

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Bill details

Introduced: 1/21/2025

Current status: In committee

Introduced by: Eric Schmitt (R · MO)

Bill ID: 119s168

Latest official action: Read twice and referred to the Committee on Energy and Natural Resources.

Bill overview

A neutral overview based on official congressional sources.

Introduced in Senate

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.

Source: BILLSUM · Summary date: 1/21/2025

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Last updated: 1/21/2025Source: BILLSUMBill: 119s168Learn more →