S. 168 · Where this bill is now
In committee
Introduced in the Senate, Jan 21, 2025
What this bill does
In plain words · AI-written from the official summaryDirects energy and AI revenues toward debt reduction
This bill creates a special fund that would receive a portion of federal revenue to help pay down the national debt. Specifically, 25% of money earned from federal oil and gas leases and 25% of revenue from artificial intelligence infrastructure activities would go into this fund each quarter. The revenue includes upfront payments from lease sales as well as ongoing royalties and rental payments collected over time.
How it affects you
This bill doesn't directly change daily life for most Americans. It's focused on how the federal government uses certain revenues it collects. The summary doesn't explain what this debt reduction means for specific groups or services.
Read the official summary (Introduced in Senate, Jan 21, 2025)
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.
Written by AI (Claude) using only the official summary by the Congressional Research Service, the Library of Congress’s nonpartisan research staff. It can miss nuance, so check the official summary and the bill text for details.
1st SessionS. 168
A BILL
Energy for America’s Economic Future Act
Sponsor: Sen. Eric Schmitt (R-MO) · Introduced Jan 21, 2025 · Energy · 1 version of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action Jan 21, 2025: “Read twice and referred to the Committee on Energy and Natural Resources.”