This bill establishes a commission to study whether the United States should create a national sovereign wealth fund, which would be a government-owned investment fund that generates returns for the country. The commission would include representatives from the Treasury Department, Federal Reserve, Securities and Exchange Commission, Department of Commerce, and outside academic experts in economics and investment policy. The commission must examine potential funding sources such as natural resources or federal assets, determine management structures and oversight mechanisms, evaluate what types of investments the fund could make domestically and internationally, and assess broad economic impacts including effects on inflation, financial stability, national security, and wealth inequality. The commission would have two years from its first meeting to submit a detailed report to Congress and the President with findings and recommendations on whether and how to establish such a fund. No specific funding amount is mentioned in the legislation, though the commission is authorized to hire staff, consultants, and contract with outside entities to conduct its work.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.