H.R. 7029 would establish a trust fund to hold new Federal revenue from mineral exploration, development, and production in Alaska and the Outer Continental Shelf in order to reduce the national debt.

== Detailed Summary ==

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(LogNational Debt Reduction Trust Fund Act of 2008 - Establishes in to edit the wiki and beTreasury the firstNational Debt Reduction Trust Fund. Requires the Secretary of the Treasury to provide a detailed summarytransfer to such Trust Fund revenues attributable to the exploration for, development of, or production of oil, natural gas, or oil shale located on federal lands in Alaska or the Outer Continental Shelf and to use such revenues to reduce the bill!)national debt.
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== Status of the Legislation ==

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Latest Major Action: 9/23/2008:9/29/2008: Referred to House committee.subcommittee. Status: Referred to the House CommitteeSubcommittee on NaturalEnergy and Mineral Resources.
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== Points in Favor ==

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== Points Against ==

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