MARKET CHOICE Act
Latest action · Jul 5, 2022 Referred to the Subcommittee on Energy and Mineral Resources.
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.
- IntroducedMay 7, 2021
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
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.
Cosponsors 1
Members who signed on, in the order they did. All signed on May 7, 2021.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-CA | Salud O. Carbajal | Original | May 7, 2021 |
Committees 7
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 May 7, 2021 |
| House | Energy and Commerce Committee | Referred May 7, 2021 |
| Environment Subcommittee | Referred May 10, 2021 | |
| House | Natural Resources Committee | Referred May 7, 2021 |
| Energy and Mineral Resources Subcommittee | Referred Jul 5, 2022 | |
| House | Education and Workforce Committee | Referred May 7, 2021 |
| House | Transportation and Infrastructure Committee | Referred May 7, 2021 |
| Highways and Transit Subcommittee | Referred May 10, 2021 | |
| House | Science, Space, and Technology Committee | Referred May 7, 2021 |
| Energy Subcommittee | Referred May 7, 2021 | |
| House | Agriculture Committee | Referred May 7, 2021 |
Actions 6
Everything that happened, newest first.
- Jul 5, 2022Referred to the Subcommittee on Energy and Mineral Resources.
- May 10, 2021Referred to the Subcommittee on Highways and Transit.
- May 10, 2021Referred to the Subcommittee on Environment and Climate Change.
- May 7, 2021Introduced in House
- May 7, 2021Referred 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, 2021Referred to the Subcommittee on Energy.
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 Congressional Record, vol. 167, no. 79, May 7, 2021, page H2153.
CRS reports 1
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 1
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 |
Related bills 4
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 661 | Carbon Capture Modernization Act | Related bill | Mar 10, 2021 |
| HR 1760 | Carbon Capture Modernization Act | Related bill | Mar 10, 2021 |
| HR 4520 | MARKET CHOICE Act | Reintroduction of | Oct 18, 2019 |
| HR 6665 | MARKET CHOICE Act | Reintroduced Bill | Jan 25, 2024 |
Titles 3
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Internal Revenue Code of 1986 to eliminate certain fuel excise taxes and impose a tax on greenhouse gas emissions to provide revenue for maintaining and building American infrastructure, and for other purposes.
- Short Title(s) as Introduced
- MARKET CHOICE Act
- Modernizing America with Rebuilding to Kickstart the Economy of the Twenty-first Century with a Historic Infrastructure-Centered Expansion Act
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
- 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
Text 1
Each version as it was printed, newest first.
- May 7, 2021Introduced 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.
