America's Energy Security Trust Fund Act of 2007
Latest action · Aug 3, 2007 Referred to the House Committee on Ways and Means.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedAug 3, 2007
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
America's Energy Security Trust Fund Act of 2007 - Amends the Internal Revenue Code to impose an excise tax on any taxable carbon substance sold by a manufacturer, producer, or importer. Defines "taxable carbon substance" as: (1) coal (including lignite and peat); (2) petroleum and any petroleum products; and (3) natural gas that is extracted, manufactured, or produced in the United States, or entered into the United States for consumption, use, or warehousing.
Establishes in the Treasury the America's Energy Security Trust Fund to finance research in clean energy technology, assist industries negatively affected by this Act, and provide carbon tax rebates to individual taxpayers.
Allows individual taxpayers a tax credit equal to carbon tax rebate amounts calculated by the Secretary of the Treasury.
Directs the Secretary of the Treasury to study and report to Congress on the best methods to assess and collect taxes on non-carbon greenhouse gases.
Expresses the sense of Congress that the major greenhouse gas emitting countries should join with the United States in reducing greenhouse gas emissions.
Cosponsors 12
Members who signed on, in the order they did. Signatures ran from Sep 6, 2007 to Jul 22, 2008.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-CA | George Miller | Sep 6, 2007 | |
| D-CA | Fortney Pete Stark | Sep 18, 2007 | |
| D-VA | James P. Moran | Sep 24, 2007 | |
| D-CT | Rosa L. DeLauro | Sep 24, 2007 | |
| D-CA | Zoe Lofgren | Sep 25, 2007 | |
| D-NY | Edolphus Towns | Sep 26, 2007 | |
| D-AZ | Raúl M. Grijalva | Sep 27, 2007 | |
| D-NY | Nita M. Lowey | Oct 3, 2007 | |
| D-OR | Earl Blumenauer | Oct 9, 2007 | |
| D-CA | Sam Farr | Apr 1, 2008 | |
| D-MA | James P. McGovern | May 6, 2008 | |
| D-WA | Jim McDermott | Jul 22, 2008 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Ways and Means Committee | Referred Aug 3, 2007 |
Actions 2
Everything that happened, newest first.
- Aug 3, 2007Introduced in House
- Aug 3, 2007Referred to the House Committee on Ways and Means.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Printed hearings 1
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| Serial No. 110-98 | POLICY OPTIONS TO PREVENT CLIMATE CHANGE255 pages | Ways and Means Committee | Sep 18, 2008 |
CRS reports 2
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 2
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| R45472 | Market-Based Greenhouse Gas Emission Reduction Legislation: 108th Through 118th Congresses | Report | Dec 4, 2024 |
| R40556 | Market-Based Greenhouse Gas Control: Selected Proposals in the 111th Congress Archived | Report | May 18, 2010 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Internal Revenue Code of 1986 to reduce carbon dioxide emissions in the United States domestic energy supply.
- Short Titles as Introduced
- America's Energy Security Trust Fund Act of 2007
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
- Air pollution control
- Carbon dioxide
- Climate change and greenhouse gases
- Coal
- Collection of accounts
- Commerce
- Congress
- Congressional reporting requirements
- Economics and Public Finance
- Energy
- Energy research
- Environmental Protection
- Excise tax
- Government trust funds
- Governmental investigations
- Income tax
- International Affairs
- International environmental cooperation
- Natural gas
- Peat
- Petroleum
- Petroleum industry
- Science, Technology, Communications
- Subsidies
- Tax credits
- Tax rebates
- Tax returns
- Taxation
Text 1
Each version as it was printed, newest first.
- Aug 3, 2007Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
