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American Opportunity Carbon Fee Act of 2019

USA116th CongressS-1128| Senate 
| Updated: 4/10/2019
Sheldon Whitehouse

Sheldon Whitehouse

Democratic Senator

Rhode Island

Cosponsors (3)
Kirsten E. Gillibrand (Democratic)Martin Heinrich (Democratic)Brian Schatz (Democratic)

Finance Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
American Opportunity Carbon Fee Act of 201 9 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.
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Timeline
Apr 10, 2019
Introduced in Senate
Apr 10, 2019
Read twice and referred to the Committee on Finance.
  • April 10, 2019
    Introduced in Senate


  • April 10, 2019
    Read twice and referred to the Committee on Finance.

Taxation

Air qualityClimate change and greenhouse gasesCoalCorporate finance and managementDisability assistanceEmployment and training programsGovernment information and archivesIncome tax creditsIncome tax ratesManufacturingOil and gasRural conditions and developmentSales and excise taxesSocial security and elderly assistanceVeterans' pensions and compensation

American Opportunity Carbon Fee Act of 2019

USA116th CongressS-1128| Senate 
| Updated: 4/10/2019
American Opportunity Carbon Fee Act of 201 9 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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Apr 10, 2019
Introduced in Senate
Apr 10, 2019
Read twice and referred to the Committee on Finance.
  • April 10, 2019
    Introduced in Senate


  • April 10, 2019
    Read twice and referred to the Committee on Finance.
Sheldon Whitehouse

Sheldon Whitehouse

Democratic Senator

Rhode Island

Cosponsors (3)
Kirsten E. Gillibrand (Democratic)Martin Heinrich (Democratic)Brian Schatz (Democratic)

Finance Committee

Taxation

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Air qualityClimate change and greenhouse gasesCoalCorporate finance and managementDisability assistanceEmployment and training programsGovernment information and archivesIncome tax creditsIncome tax ratesManufacturingOil and gasRural conditions and developmentSales and excise taxesSocial security and elderly assistanceVeterans' pensions and compensation