Congress 117 - HR 3039 - MARKET CHOICE Act

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Cosponsors

Topics

Administrative law and regulatory procedures Advisory bodies Air quality Climate change and greenhouse gases Coal Economic development Electric power generation and transmission Employment and training programs Environmental health Environmental Protection Agency (EPA) Environmental regulatory procedures Floods and storm protection Government trust funds Income tax credits Industrial facilities Infrastructure development International organizations and cooperation Manufacturing Metals Mining Motor fuels Motor vehicles Oil and gas Sales and excise taxes Tax administration and collection, taxpayers Taxation Unemployment

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Summary

Modernizing America with Rebuilding to Kickstart the Economy of the Twenty-first Century with a Historic Infrastructure-Centered Expansion Act or the MARKET CHOICE Act

This bill imposes a tax on the greenhouse gas emissions of fossil fuels, certain industrial processes, and certain product uses.

The bill transfers tax revenue to a Rebuilding Infrastructure and Solutions for the Environment Trust Fund (RISE Trust Fund) established by this bill. Specified amounts in the trust fund shall be available for the federal Highway Trust Fund, grants to low-income households, and other specified energy, environmental, infrastructure, and research and development priorities.

The bill also

eliminates the federal motor vehicle and aviation fuel taxes,
modifies the tax credit for carbon capture and storage and the qualifying advanced coal project tax credit,
imposes a moratorium on finalizing and enforcing certain Clean Air Act regulations on greenhouse gas emissions, and
establishes a National Climate Commission to review policies to reduce greenhouse gas emissions.

The moratorium on regulations for limiting greenhouse gas emissions expires in 2035 if specified emission targets are not reached.

Actions

Jul 5, 2022

Referred to the Subcommittee on Energy and Mineral Resources.
May 10, 2021

Referred to the Subcommittee on Environment and Climate Change.
May 10, 2021

Referred to the Subcommittee on Highways and Transit.
May 7, 2021

Referred to the Subcommittee on Energy.
May 7, 2021

Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, Natural Resources, Education and Labor, Transportation and Infrastructure, Science, Space, and Technology, and Agriculture, 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.
May 7, 2021

Introduced in House

Amendments

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