American Opportunity Carbon Fee Act of 2019
Latest action · Apr 10, 2019 Read twice and referred to the Committee on Finance.
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.
- IntroducedApr 10, 2019
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
American Opportunity Carbon Fee Act of 2019
This bill imposes fees on carbon dioxide and other greenhouse gas emissions, establishes a tax credit for workers, provides payments to retired and disabled individuals, and provides cost mitigation grants to states.
Specifically, the bill imposes fees on (1) fossil fuel products producing carbon dioxide emissions, including coal, petroleum products, and natural gas; (2) fluorinated greenhouse gases; (3) facilities that emit greenhouse gases; and (4) associated emissions (attributable to venting, flaring, and leakage across the supply chain).
The bill directs the Department of the Treasury to
- establish, implement, and report on a program to identify all major source categories of associated emissions and collect data on associated emissions from the coal, petroleum products, and natural gas supply chains;
- make specified adjustments to the new fees for importers and exporters of energy-intensive manufactured goods;
- make a specified payment each calendar year to certain Social Security beneficiaries and other retired and disabled individuals;
- make cost mitigation grants to states for assisting low-income and rural households in reducing energy expenses, providing job training and worker transition assistance, or assisting in dealing with climate change or the transition to a low-carbon economy; and
- establish a website to make regular disclosures concerning revenue, tax savings, and benefits attributable to this bill.
The bill also allows a new carbon fee offset tax credit for the lesser of 6.2% of earned income or $900.
Cosponsors 3
Members who signed on, in the order they did. All signed on Apr 10, 2019.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-HI | Brian Schatz | Original | Apr 10, 2019 |
| D-NY | Kirsten E. Gillibrand | Original | Apr 10, 2019 |
| D-NM | Martin Heinrich | Original | Apr 10, 2019 |
Actions 2
Everything that happened, newest first.
- Apr 10, 2019Introduced in Senate
- Apr 10, 2019Read twice and referred to the Committee on Finance.
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
- Air quality
- Climate change and greenhouse gases
- Coal
- Corporate finance and management
- Disability assistance
- Employment and training programs
- Government information and archives
- Income tax credits
- Income tax rates
- Manufacturing
- Oil and gas
- Rural conditions and development
- Sales and excise taxes
- Social security and elderly assistance
- Taxation
- Veterans' pensions and compensation
Text 1
Each version as it was printed, newest first.
- Apr 10, 2019Introduced in Senate
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.