On September 20, 2024, President Biden signed the Royalty Resiliency Act (H.R. 7377), aimed at improving oil and gas royalty management, and the Veterans Benefits Continuity and Accountability Act (H.R. 9468), which provides supplemental funding for the VA. The new laws will enhance royalty transparency and ensure sustained veterans’ benefits. These legislative measures reflect bipartisan efforts to address critical resource management and veteran support issues.
Bills Signed: H.R. 7377, H.R. 9468
H.R. 7377, “Royalty Resiliency Act,” which amends the Federal Oil and Gas Royalty Management Act of 1982 to improve the management of royalties from oil and gas leases, and for other purposes.
Thank you to Representative Hunt for his leadership.
H.R. 9468, “Veterans Benefits Continuity and Accountability Supplemental Appropriations Act, 2024,” which provides fiscal year 2024 supplemental appropriations to the Veterans Benefits Administration within the Department of Veterans Affairs (VA), establishes reporting requirements related to VA funding and projected funding shortfalls, and requires the VA Office of Inspector General to conduct a review on the causes that led to this funding shortfall.
Thank you to Representatives Takano, Bost, Mike Garcia, Cole, and DeLauro, and Senators Tester, Moran, Brown, Boozman, Murray, and Collins for their leadership.
September 20, 2024 Washington, DC
These two landmark pieces of legislation, signed into law by President Biden, demonstrate a commitment to both fiscal responsibility and the well-being of America’s veterans. As the Royalty Resiliency Act promises to enhance transparency in oil and gas revenue management, the supplemental funding for veterans highlights the government’s dedication to honoring those who served. The implications of these laws will unfold over the coming months, sparking important discussions on resource management and veteran care—issues that remain central to the nation’s future. Stay tuned as we continue to follow these developments.
Five Questions Critics Are Asking About Biden’s Latest Bills
- Will the Royalty Resiliency Act significantly improve transparency in the oil and gas sector, or does it fall short?
- How will the supplemental funding for the Veterans Administration address the longstanding issues of budget shortfalls?
- What accountability measures are in place to ensure effective use of the newly allocated veterans’ benefits funding?
- Could the Royalty Resiliency Act lead to unintended consequences for small oil and gas companies?
- How might these new laws influence the political landscape leading up to the 2024 elections?
Summary Paragraph:
Critics are raising important questions about the impact and effectiveness of President Biden’s latest legislative efforts. The Royalty Resiliency Act and the Veterans Benefits Continuity and Accountability Act aim to tackle oil royalty transparency and veterans’ funding, but concerns remain over their long-term efficacy. Explore these key questions and learn more about the potential outcomes by reading our full analysis on Midtown Tribune.
Sources: Midtown Tribune news, White House Gov