Mohave Today

Congressman Paul Gosar has introduced new legislation aimed at supporting the Social Security Trust Fund. The bill, known as HR 34 or the Land and Social Security Optimization (LASSO) Act, proposes that 10% of revenue generated from lands managed by the Department of the Interior and the Forest Service be allocated to the Federal Old-Age and Survivors Insurance (OASI) Trust Fund.

Gosar stated, "This legislation is a win-win. The LASSO Act shores up the component of the Social Security trust funds that pays Social Security benefits to retired workers, their spouses, their children, and survivors of deceased insured workers."

The proposal also seeks to boost domestic energy potential by promoting activities that generate revenue on public land. These activities include onshore and offshore energy development, livestock grazing, and timber harvesting. Gosar emphasized that this aligns with "the federal government’s obligation to promote the highest use of public lands." He criticized what he sees as underperformance in public land usage, citing over 1.6 million acres being restricted under current policies.

According to Congressman Gosar, if enacted during fiscal year 2023, the legislation could have contributed nearly $2 billion to the OASI Trust Fund. This would have helped reduce its shortfall by approximately 3%.