Rep. Gosar proposes Lasso Act to channel public-lands revenue into Social Security trust fund
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Summary
Representative Gosar described HR 34, the Lasso Act, which would credit 10% of certain public-lands revenues to the Old-Age and Survivors Insurance (OASI) trust fund; he cited a CBO estimate of roughly $15 billion over 10 years and encouraged members to cosponsor.
Representative Gosar presented the Land and Social Security Optimization Act ("Lasso Act," HR 34) and said it would deposit 10% of revenue generated by certain public-lands uses into the Old-Age and Survivors Insurance (OASI) trust fund.
Gosar said the Congressional Budget Office estimated the bill would "increase the amount credited to the trust fund by roughly $15,000,000,000" over a 10-year period (2025–2035, as stated in his testimony). He framed the bill as strengthening Social Security while encouraging revenue-generating activities on public lands such as energy development, grazing and timber harvesting.
Gosar named several endorsing organizations and said 13 members had already cosponsored the bill; he asked committee members to sign on and urged a markup as soon as possible. His comments were testimony during the member-day hearing; the committee made no formal decision during the session.