3.0.0 4058 2022-11-01T13:50:20Z 2022-11-01T13:50:20Z House HR 2019-07-25 116 [Congressional Record Volume 165, Number 126 (Thursday, July 25, 2019)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. ROONEY of Florida:H.R. 4058.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8[Page H7471]]]> hsif00 Energy and Commerce Committee House Standing hsif17 Innovation, Data, and Commerce Subcommittee Referred to 2019-07-26T17:13:04Z Referred to 2019-07-25T14:12:10Z hssy00 Science, Space, and Technology Committee House Standing Referred to 2019-07-25T14:12:15Z hswm00 Ways and Means Committee House Standing Referred to 2019-07-25T14:12:05Z MARKET CHOICE Act 116 4520 HR 2019-10-18 Referred to the Subcommittee on Energy and Mineral Resources. Related bill CRS 2019-07-26 hsif17 Innovation, Data, and Commerce Subcommittee 1 House committee actions Referred to the Subcommittee on Consumer Protection and Commerce. Committee 2019-07-25 Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, and Science, Space, and Technology, 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. IntroReferral H11100 2 House floor actions hssy00 Science, Space, and Technology Committee 2019-07-25 Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, and Science, Space, and Technology, 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. IntroReferral H11100 2 House floor actions hsif00 Energy and Commerce Committee 2019-07-25 Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, and Science, Space, and Technology, 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. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2019-07-25 Introduced in House IntroReferral Intro-H 9 Library of Congress 2019-07-25 Introduced in House IntroReferral 1000 9 Library of Congress R000607 Rep. Rooney, Francis [R-FL-19] Francis Rooney R FL 19 N L000563 Rep. Lipinski, Daniel [D-IL-3] Daniel Lipinski D IL William 3 2019-07-25 True Taxation Administrative law and regulatory procedures Air quality Aviation and airports Climate change and greenhouse gases Coal Electric power generation and transmission Employment taxes Environmental Protection Agency (EPA) Environmental regulatory procedures Government trust funds Industrial facilities International organizations and cooperation Manufacturing Metals Mining Motor vehicles Oil and gas Sales and excise taxes Tax administration and collection, taxpayers Taxation 00 2019-07-25 Introduced in House 2019-11-05T19:17:27Z Stemming Warming and Augmenting Pay Act of 2019 or the SWAP Act.

This bill imposes a tax on combusted fossil fuel greenhouse gas emissions. The tax is equal to $30 per metric ton of carbon dioxide equivalent emissions beginning in 2021. The tax increases by 5% plus inflation each year and increases by $3 per ton every two years if the previous year's emission goals are not met.

The revenue from such tax is divided (1) 70% for the reduction of payroll taxes; (2) 10% for additional payments to Social Security beneficiaries, and (3) 20% to establish a carbon trust fund for block grants to offset higher energy costs for low-income households, climate adaptation, energy efficiency, carbon sequestration, and research and development programs.

The bill also amends the Clean Air Act to impose a 12-year moratorium on regulations that limit greenhouse gas emissions. This moratorium may be lifted if certain emission targets are not met.

]]> SWAP Act Display Title SWAP Act Official Title as Introduced To amend the Internal Revenue Code of 1986 to impose a tax on greenhouse gas emissions, accordingly reduce tax rates on payroll, and for other purposes. Introduced in House IH Short Title(s) as Introduced SWAP Act Introduced in House IH Short Title(s) as Introduced Stemming Warming and Augmenting Pay Act of 2019 Introduced in House IH Introduced in House 2019-07-25T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr4058ih/xml/BILLS-116hr4058ih.xml 2019-07-26 Referred to the Subcommittee on Consumer Protection and Commerce. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.