America's Energy Security Trust Fund Act of 2014
Latest action · Jul 31, 2014 Referred to the Committee on Ways and Means, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
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.
- IntroducedJul 31, 2014
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
America's Energy Security Trust Fund Act of 2014 - Amends the Internal Revenue Code to impose an excise tax, beginning in calendar year 2016, on any taxable carbon substance sold by its 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 assist industries negatively affected by this Act, make transfers to the Highway Trust Fund to cover shortfalls, and provide payroll tax relief.
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 United States should establish binding agreements with major greenhouse gas emitting nations to reduce global greenhouse gas emissions.
Cosponsors
Members who signed on, in the order they did.
Committees 2
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 Jul 31, 2014 |
| House | Foreign Affairs Committee | Referred Jul 31, 2014 |
Actions 2
Everything that happened, newest first.
- Jul 31, 2014Introduced in House
- Jul 31, 2014Referred to the Committee on Ways and Means, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
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.
Constitutional authority
The sponsor’s statement, as printed in the page H7185.
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 pollution in the United States, invest in the Nation's infrastructure, and cut taxes for working Americans.
- Short Titles as Introduced
- America's Energy Security Trust Fund Act of 2014
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
- Advanced technology and technological innovations
- Air quality
- Alternative and renewable resources
- Climate change and greenhouse gases
- Coal
- Congressional oversight
- Employment taxes
- Energy research
- Government studies and investigations
- Government trust funds
- Income tax credits
- International law and treaties
- Oil and gas
- Research administration and funding
- Research and development
- Roads and highways
- Sales and excise taxes
- Taxation
- Transportation programs funding
Text 1
Each version as it was printed, newest first.
- Jul 31, 2014Introduced 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.
