Energy for America’s Economic Future Act
This bill establishes the "Debt Reduction Fund" to directly reduce the federal debt. It requires depositing 25% of revenue from federal oil and gas lease sales (both onshore and offshore) and activities under Executive Order 14141 (AI infrastructure) into the fund starting 100 days after enactment. The fund's sole purpose is to reduce outstanding public Treasury securities, with the Treasury applying all deposits quarterly toward this goal. The Secretary must report quarterly on redeemed securities and debt reductions. This affects federal debt management, not specific citizens or industries, as it redirects existing revenue streams toward debt reduction.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jan 2025
Committee Review
Floor Vote
President
Introduced Jan 21, 2025
Last action Jan 21, 2025
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No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Jan 21, 2025
Committee
Read twice and referred to the Committee on Energy and Natural Resources.
upper
Jan 21, 2025
Introduced
Introduced in Senate
upper
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Eric Schmitt
RRepublican
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