3.0.0 1128 2022-11-01T19:32:18Z 2022-11-05T19:25:27Z Senate S 2019-04-10 116 ssfi00 Finance Committee Senate Standing Referred to 2019-04-10T20:42:38Z 2019-04-10 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2019-04-10 Introduced in Senate IntroReferral 10000 9 Library of Congress W000802 Sen. Whitehouse, Sheldon [D-RI] Sheldon Whitehouse D RI N S001194 Sen. Schatz, Brian [D-HI] Brian Schatz D HI 2019-04-10 True H001046 Sen. Heinrich, Martin [D-NM] Martin Heinrich D NM T. 2019-04-10 True G000555 Sen. Gillibrand, Kirsten E. [D-NY] Kirsten Gillibrand D NY E. 2019-04-10 True 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 Veterans' pensions and compensation Taxation 00 2019-04-10 Introduced in Senate 2019-11-25T16:43:42Z 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.

]]> American Opportunity Carbon Fee Act of 2019 Display Title American Opportunity Carbon Fee Act of 2019 Short Title(s) as Introduced American Opportunity Carbon Fee Act of 2019 Introduced in Senate IS Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to provide for carbon dioxide and other greenhouse gas emission fees, provide tax credits to workers, deliver additional benefits to retired and disabled Americans, and for other purposes. Introduced in Senate IS Introduced in Senate 2019-04-10T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s1128is/xml/BILLS-116s1128is.xml 2019-04-10 Read twice and referred to the Committee on Finance. 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.