A Plan for Establishing a United States Sovereign Wealth Fund
Signed February 3, 2025·Donald Trump·90 FR 9181
Source
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Plain-language summary
Directs the Secretary of the Treasury and the Secretary of Commerce, working with the Assistant to the President for Economic Policy, to develop a plan for establishing a United States sovereign wealth fund intended to promote fiscal sustainability, reduce tax burdens, build economic security for future generations, and support U.S. economic and strategic leadership abroad. The two secretaries must jointly submit the plan to the President within 90 days, covering funding mechanisms, investment strategies, fund structure, governance, and a legal evaluation of what would be needed to create and manage the fund, including whether legislation is required. The order states it does not alter existing agency authorities or the Office of Management and Budget's budgetary role, applies only as consistent with existing law and available funding, and creates no enforceable legal rights.
Not written or reviewed by a person. Read the full order below for anything you intend to rely on.
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Claimed authority
By the authority vested in me as President by the Constitution and the laws of the United States of America, and in order to promote the long-term financial health and international leadership of the United States, it is hereby ordered
Quoted from the order as written. Many orders cite nothing more specific than “the Constitution and the laws”; this reproduces what the order claims, not an assessment of whether it holds.
The order, in full
Executive Order 14196 of February 3, 2025
A Plan for Establishing a United States Sovereign
Wealth Fund
By the authority vested in me as President by the
Constitution and the laws of the United States of
America, and in order to promote the long-term
financial health and international leadership of the
United States, it is hereby ordered:
Section 1. Policy and Purpose. It is the policy of the
United States to maximize the stewardship of our
national wealth for the sole benefit of American
citizens. To this end, it is in the interest of the
American people that the Federal Government establish a
sovereign wealth fund to promote fiscal sustainability,
lessen the burden of taxes on American families and
small businesses, establish economic security for
future generations, and promote United States economic
and strategic leadership internationally.
Sec. 2. Sovereign Wealth Fund. The Secretary of the
Treasury and the Secretary of Commerce, in close
coordination with the Assistant to the President for
Economic Policy, shall develop a plan for the
establishment of a sovereign wealth fund consistent
with section 1 of this order. The Secretary of the
Treasury and the Secretary of Commerce shall jointly
submit this plan to the President within 90 days of the
date of this order. Such plan shall include
recommendations for funding mechanisms, investment
strategies, fund structure, and a governance model. The
plan shall also include an evaluation of the legal
considerations for establishing and managing such a
fund, including any need for legislation.
Sec. 3. General Provisions. (a) Nothing in this order
shall be construed to impair or otherwise affect:
(i) the authority granted by law to an executive department or agency, or
the head thereof; or
(ii) the functions of the Director of the Office of Management and Budget
relating to budgetary, administrative, or legislative proposals.
(b) This order shall be implemented consistent with
applicable law and subject to the availability of
appropriations.
(c) This order is not intended to, and does not,
create any right or benefit, substantive or procedural,
enforceable at law or in equity by any party against
the United States, its departments, agencies, or
entities, its officers, employees, or agents, or any
other person.
(Presidential Sig.)
THE WHITE HOUSE,
February 3, 2025.Reproduced from the Federal Register plain-text record, signed February 3, 2025. Typesetting artifacts are removed; no wording is changed.