Executive Order 14196

A Plan for Establishing a United States Sovereign Wealth Fund

Signed 2025-02-03 in effect
Economic PolicyFederal FinanceInvestment
Economy & FinanceTransportation & Infrastructure

Directs Treasury and Commerce to develop a plan within 90 days for establishing a U.S. sovereign wealth fund, including recommendations on funding mechanisms, investment strategies, fund structure, governance, and any need for legislation. The order names no specific investment targets.

Section by Section

What each section does, and how they differ.

Sec. 1 Policy and Purpose

The US will establish a sovereign wealth fund to maximize national wealth stewardship for American citizens and fiscal sustainability.

Sec. 2 Sovereign Wealth Fund

Treasury and Commerce jointly develop a plan within 90 days for establishing a sovereign wealth fund, including funding, investment, structure, and governance.

Sec. 3 General Provisions

Standard boilerplate: preserves existing agency authority, conditions the order on appropriations, and creates no enforceable private rights.