Energy for America’s Economic Future Act
The source supplies the latest action, but no lifecycle stage.
Latest action (21 Jan 2025): Read twice and referred to the Committee on Energy and Natural Resources.
What this bill does
S. 168, the Energy for America's Economic Future Act, would create a new "Debt Reduction Fund" within the U.S. Treasury. Beginning 100 days after enactment, the fund would receive quarterly deposits equal to 25 percent of the revenue generated from federal onshore and offshore oil and gas lease sales—covering bonus bids, royalties, rental payments, and fees collected under existing federal mineral leasing laws—as well as 25 percent of revenue tied to activities associated with a specified executive order on artificial intelligence infrastructure. Money placed in the fund could be used only to pay down the principal of the federal debt, specifically by redeeming outstanding Treasury securities or other debt instruments held by the public.
The bill primarily affects federal budget and debt management practices, the Treasury Department (which would administer the fund and report on it), and agencies overseeing federal oil, gas, and AI-infrastructure-related revenues. It does not change leasing rules, royalty rates, or AI policy itself, but redirects a portion of resulting revenue toward debt reduction. The Treasury Secretary would be required to report to Congress one year after enactment, and quarterly thereafter, detailing which debt instruments were redeemed and the resulting reduction in federal debt.
The bill was introduced on January 21, 2025, by Senator Eric Schmitt and referred to the Senate Committee on Energy and Natural Resources. It has not yet received a committee vote, floor action, or further congressional consideration.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Official 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.
Timeline
21 Jan 2025
Read twice and referred to the Committee on Energy and Natural Resources.
Common questions
- What does S. 168 do?
- S. 168, the Energy for America's Economic Future Act, would create a new "Debt Reduction Fund" within the U.S. Treasury. Beginning 100 days after enactment, the fund would receive quarterly deposits equal to 25 percent of the revenue generated from federal onshore and offshore oil and gas lease sales—covering bonus bids, royalties, rental payments, and fees collected under existing federal mineral leasing laws—as well as 25 percent of revenue tied to activities associated with a specified executive order on artificial intelligence infrastructure. Money placed in the fund could be used only to pay down the principal of the federal debt, specifically by redeeming outstanding Treasury securities or other debt instruments held by the public. The bill primarily affects federal budget and debt management practices, the Treasury Department (which would administer the fund and report on it), and agencies overseeing federal oil, gas, and AI-infrastructure-related revenues. It does not change leasing rules, royalty rates, or AI policy itself, but redirects a portion of resulting revenue toward debt reduction. The Treasury Secretary would be required to report to Congress one year after enactment, and quarterly thereafter, detailing which debt instruments were redeemed and the resulting reduction in federal debt. The bill was introduced on January 21, 2025, by Senator Eric Schmitt and referred to the Senate Committee on Energy and Natural Resources. It has not yet received a committee vote, floor action, or further congressional consideration.
- Has S. 168 become law?
- The source does not supply a confirmed lifecycle stage for S. 168. Check the latest action and official source below.
- Who sponsored S. 168?
- S. 168 was sponsored by Sen. Schmitt, Eric [R-MO] (R-MO), with 0 cosponsors.
- What's the latest action on S. 168?
- Read twice and referred to the Committee on Energy and Natural Resources. (21 Jan 2025).
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