S. 5623 aims to establish a Debt Reduction Fund within the U.S. Treasury to help decrease the national debt. The bill proposes that 25% of the revenue from Federal oil and gas lease sales be deposited into this fund. The money collected is to be used exclusively to reduce the...
Simple Explanation
S. 5623 is like a big piggy bank for the United States to help pay off its huge credit card bill. It wants to save money from selling oil and gas to pay back what it owes, making sure that once a year, it tells everyone how much money it has put in and how much debt has been reduced.