H.R.34 - Land And Social Security Optimization Act; LASSO Act (119th Congress)
Summary
H.R.34, the Land And Social Security Optimization Act (LASSO Act), proposes to allocate 10% of the revenue generated from covered public lands managed by the Department of the Interior and the Forest Service to the Social Security Trust Fund. This allocation would occur each fiscal year, using revenue data from the preceding fiscal year. The bill explicitly states that it should not authorize raising prices on activities generating revenue on public lands or reduce amounts available to states, Indian Tribes, territories, or local governments.
Expected Effects
The primary effect of this bill, if enacted, would be a shift in the distribution of revenue generated from public lands. A portion of these funds, which currently support various programs and government operations, would be redirected to bolster the Social Security Trust Fund. This could potentially improve the solvency of Social Security, but may also require adjustments in other areas that currently rely on public land revenue.
Potential Benefits
- Potentially strengthens the Social Security Trust Fund, improving long-term solvency.
- Could provide a dedicated funding stream for Social Security, reducing reliance on other sources.
- May lead to increased public awareness and appreciation of the economic value of public lands.
- The bill explicitly protects existing revenue streams to states, tribes and local governments.
- Could improve public perception of the management of public lands.
Most Benefited Areas:
Potential Disadvantages
- Reduces the amount of revenue available for other programs and initiatives funded by public land revenue.
- May create budgetary pressures in the Department of the Interior and the Forest Service.
- The 10% allocation may not be sufficient to significantly impact the Social Security Trust Fund's overall financial health.
- Could lead to debates over the appropriate use of public land revenue.
- Potential for unintended consequences if the revenue stream from public lands fluctuates significantly.
Constitutional Alignment
The bill appears to align with the General Welfare Clause of the Constitution, as it aims to contribute to the financial stability of Social Security, which is intended to promote the general welfare. Article I, Section 8 grants Congress the power to lay and collect taxes, duties, imposts and excises, to pay the debts and provide for the common defense and general welfare of the United States. The bill does not appear to infringe upon any specific constitutional rights or limitations.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).