S.Amdt. 1924

Mr. Peters submitted amendment SA 1924, which aims to create a deficit-neutral reserve fund relating to ensuring that energy resources derived in the United States stay in the United States, and lowering energy prices for families and businesses in the United States instead of allowing these resources to be shipped overseas.

This amendment allows the Chairman of the Committee on the Budget of the Senate to revise certain levels and adjustments in the budget resolution for legislation relating to lowering energy costs.

What It Aims to Change or Add

The amendment adds the option to change budget allocations for legislation that may include:

• Prohibiting extraction of energy resources from public lands or waters unless United States consumers are the primary beneficiaries

• Prohibiting energy resources extracted from public lands or waters in the United States from being shipped overseas or from benefitting foreign entities of concern

• Prohibiting companies with ties to foreign entities of concern from bidding on Federal lease sales

• Prohibiting the export of domestically produced oil overseas if the average retail price of gasoline in the United States exceeds $2.50 per gallon

• Prohibiting the export of domestically extracted energy resources if the President has declared a national energy emergency

• Prohibiting the export of domestically produced natural gas overseas if year-over-year domestic energy prices have increased, if domestic energy prices are above their long-run average, or if increases in year-over-year energy prices outpace inflation