,,ii  #aaith ,,congress  #ast ,session  
,s4 #afh  ,,in ,,the ,,senate ,,of ,,the
 ,,united ,,states  ,january #ba1       
#bjbe,mr4 ,schmitt introduced the       
following bill2 which was read twice and
 referred to the ,committee on ,energy  
and ,natural ,resources  ,a ,,bill  ,to 
establish a debt reduction fund to      
reduce the national debt of the ,united 
,states1 and for other purposes4  #a4   
,short title ,this ,act may be cited as 
the ,energy for ,america's ,economic    
,future ,act4  #b4 ,debt reduction fund 
7a7 ,definitions ,in this ,act3 7#a7    
,fund ,the term ,fund means the ,debt   
,reduction ,fund established by         
subsection 7b74  7#b7 ,secretary ,the   
term ,secretary means the ,secretary of 
the ,treasury4  7#c7 ,total revenue ,the
 term total revenue means all bonus bid 
amounts collected at the time of an oil 
or gas lease sale1 as well as royalties1
 rental payments1 and fees accrued over 
the life of the lease1 that were        
disbursed to the ,treasury of the       

,united ,states as miscellaneous        
receipts4  7b7 ,establishment ,there is 
established in the ,treasury of the     
,united ,states a fund1 to be known as  
the ,debt ,reduction ,fund4  7c7        
,deposits ,notwithstanding any other    
provision of law1 effective beginning on
 the date that is #ajj days after the   
date of enactment of this ,act1 there   
shall be deposited into the ,fund for   
each fiscal quarter-- 7#a7 an amount    
equal to #be percent of the total       
revenue generated by each onshore and   
offshore ,federal oil and gas lease sale
 conducted under the ,mineral ,leasing  
,act 7#cj ,u4,s4,c4 #aha et seq471 the  
,act of ,august #g1 #aidg 7commonly     
known as the ,mineral ,leasing ,act for 
,acquired ,lands7 7#cj ,u4,s4,c4 #cea et
 seq471 or the ,outer ,continental      
,shelf ,lands ,act 7#dc ,u4,s4,c4 #acca 
et seq471 as applicable1 during the     
preceding fiscal quarter2 and  7#b7 an  
amount equal to #be percent of the total
 revenue generated by activities        

associated with the ,executive ,order   
#adada 7#ij ,fed4 ,reg4 #edfi2 relating 
to advancing ,united ,states leadership 
in artificial intelligence              
infrastructure74  7d7 ,use  7#a7 ,in    
general ,subject to paragraph 7#b71 any 
amounts deposited into the ,fund shall  
be used solely to reduce the principal  
of the ,federal debt4  7#b7 ,treasury   
securities ,not later than the last day 
of each fiscal quarter1 the ,secretary  
shall apply all amounts deposited into  
the ,fund solely towards reduction of   
outstanding ,treasury securities held by
 the public1 or other debt instruments4 
7e7 ,report ,not later than #a year     
after the date of enactment of this     
,act1 and quarterly thereafter1 the     
,secretary shall submit to ,congress a  
report detailing the amounts deposited  
into the ,fund that were applied in     
accordance with subsection 7d7 during   
the period covered by the report1       
specifying-- 7#a7 the ,treasury         
securities or other debt instruments    

redeemed2 and  7#b7 the associated      
reduction in total ,federal debt4