Bill > S168

This bill establishes a Debt Reduction Fund designed to help lower the national debt by directing a portion of specific federal revenue streams into a dedicated account. Specifically, the bill requires 25% of total revenue from onshore and offshore federal oil and gas lease sales, as well as 25% of revenue generated from artificial intelligence infrastructure activities, to be deposited quarterly into the Fund. These funds will be used exclusively to reduce the principal of the Federal debt by purchasing and retiring outstanding Treasury securities held by the public. The Secretary of the Treasury is mandated to submit quarterly reports to Congress detailing the specific Treasury securities or debt instruments redeemed and the corresponding reduction in total Federal debt. The Fund will be established 100 days after the bill's enactment, and the legislation defines "total revenue" as including bonus bid amounts, royalties, rental payments, and fees collected from oil and gas lease sales that are typically disbursed to the Treasury as miscellaneous receipts.

Agriculture and Natural Resources

https://www.congress.gov/bill/119th-congress/senate-bill/168/all-info