A Plan for Establishing a United States Sovereign Wealth Fund

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.

THE WHITE HOUSE,

February 3, 2025.