Redirecting Public Land Revenue to Social Security Trust Fund
This bill aims to financially strengthen the Social Security system, which pays retirement and survivor benefits. It mandates that 10% of annual revenue generated by federal public lands, including forest areas and the Outer Continental Shelf, be deposited directly into the Old-Age and Survivors Trust Fund. This potentially means greater financial stability for current and future retirees, without raising prices for public land activities or reducing funds allocated to state and local governments.
Key points
Social Security Boost: 10% of annual revenue from federal public lands (including forests and the Outer Continental Shelf) will be directed to the retirement fund.
No Price Hikes: The Act explicitly prohibits raising prices for activities on public lands to generate this additional revenue.
Protection of Local Funds: Amounts made available to States, Indian Tribes, and local governments from public land revenue will not be reduced.
Status:
Introduced
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