FAIR Transition and Competition Act
Latest action · Jul 19, 2021 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.
- IntroducedJul 19, 2021
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Fair, Affordable, Innovative, and Resilient Transition and Competition Act or the FAIR Transition and Competition Act
This bill requires the Department of the Treasury, not later than July 1, 2023, and annually thereafter, to determine the domestic environmental cost incurred for industrial facilities producing steel, aluminum, cement, iron, or other products (sectors), and for the production of natural gas, petroleum, or coal (covered fuels) that are or may be used to emit greenhouse gases. By that same date, the Environmental Protection Agency must determine and publish the average greenhouse gas emissions of each sector to determine progress in reducing such emissions.
The bill imposes a fee (border carbon adjustment) on importers of covered fuels and products.
Treasury must provide to each state a resilient communities grant to provide job training and worker transition assistance, assist certain governmental entities and frontline communities, alleviate historical burdens imposed on communities of color and other vulnerable populations, and to assist small businesses disproportionately impacted by the border carbon adjustment fee.
Cosponsors
Members who signed on, in the order they did.
Actions 2
Everything that happened, newest first.
- Jul 19, 2021Introduced in Senate
- Jul 19, 2021Read twice and referred to the Committee on Finance.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 2792 | National Defense Authorization Act for Fiscal Year 2022 | Related bill | Sep 22, 2021 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Jul 19, 2021Introduced 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.