3.0.0 2378 2023-01-01T23:43:38Z 2023-01-01T23:43:38Z Senate S 2021-07-19 117 ssfi00 Finance Committee Senate Standing Referred to 2021-07-19T21:28:21Z FAIR Transition and Competition Act 117 4534 HR 2021-07-20 Referred to the Subcommittee on Environment and Climate Change. Identical bill CRS National Defense Authorization Act for Fiscal Year 2022 117 2792 S 2021-09-22 An errata sheet on written report No. 117-39 was printed. Related bill CRS 2021-07-19 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2021-07-19 Introduced in Senate IntroReferral 10000 9 Library of Congress C001088 Sen. Coons, Christopher A. [D-DE] Christopher Coons D DE A. N Taxation Taxation 00 2021-07-19 Introduced in Senate 2021-08-13T14:27:11Z 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.

]]> Fair, Affordable, Innovative, and Resilient Transition and Competition Act Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to establish a border carbon adjustment for the importance of certain goods. Introduced in Senate IS Display Title Fair, Affordable, Innovative, and Resilient Transition and Competition Act Short Title(s) as Introduced Fair, Affordable, Innovative, and Resilient Transition and Competition Act Introduced in Senate IS Short Title(s) as Introduced FAIR Transition and Competition Act Introduced in Senate IS Introduced in Senate 2021-07-19T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117s2378is/xml/BILLS-117s2378is.xml 2021-07-19 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.