LASSO Act

The LASSO Act (HR34), introduced by Rep. Gosar (R-AZ) on January 3, 2025, and currently in subcommittee hearing stage as of February 10, 2026, proposes diverting 10% of revenue from public lands under DOI and Forest Service jurisdiction into the Social Security Old-Age and Survivors Insurance Trust Fund. The bill text explicitly prohibits any increase in the price of activities generating revenue on public lands and prohibits reducing amounts currently allocated to states, tribes, and local governments. This is strictly a federal budget allocation mechanism — it moves funds from one federal ledger to another without changing the obligations or costs of any private entity. The money trail is clear: zero new funding is authorized or appropriated. The bill does not allocate any new spending, create any new programs, or authorize any new contracts. It is a standing direction to Treasury to redirect 10% of existing revenue streams. The Congressional Research Service summary and the bill text both confirm this is a reallocation-only mechanism. No publicly traded company faces any change in costs, revenue, or competitive positioning as a direct result of this bill. The presidential actions on April 20, 2026 — invoking the Defense Production Act across energy infrastructure, petroleum production, coal supply chains, natural gas/LNG, and grid components — are entirely independent of HR34. Those executive orders stimulate domestic energy investment, accelerate project timelines, and provide financial support for fossil fuel and grid infrastructure. They do not interact with or modify HR34's budget allocation mechanism. The DPA actions are sector-positive for energy and manufacturing stocks; the LASSO Act is structurally neutral. Legislative momentum is low. The bill has been in subcommittee hearings since February 10, 2026 — over a year after introduction. It has 14 cosponsors (all 14 are not named in the data, but the sponsor is a House backbencher, not a committee chair). The bill was referred to two committees (Natural Resources and Agriculture), which means it must clear multiple hurdles. No companion bill exists in the Senate. The bill's path to passage is uncertain and its timeframe, if passed, would be years away.