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America's Clean Future Fund Act

USA117th CongressHR-2451| House 
| Updated: 4/13/2021
Marie Newman

Marie Newman

Democratic Representative

Illinois

Cosponsors (9)
Nikema Williams (Democratic)Jared Huffman (Democratic)Ritchie Torres (Democratic)Pete Aguilar (Democratic)Juan Vargas (Democratic)Jahana Hayes (Democratic)Salud O. Carbajal (Democratic)Mike Quigley (Democratic)Albio Sires (Democratic)
Committees (13)
• Transportation and Infrastructure Committee• Ways and Means Committee• Energy Subcommittee• Agriculture Committee• Water Resources and Environment Subcommittee• Energy Subcommittee• Highways and Transit Subcommittee• Financial Services Committee• Science, Space, and Technology Committee• Energy and Commerce Committee• Education and Workforce Committee• Aviation Subcommittee• Natural Resources Committee
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
America's Clean Future Fund Act This bill establishes requirements and incentives to reduce greenhouse gas emissions and assist industries, communities, and workers transition to a low-carbon economy, including by establishing (1) the Climate Change Finance Corporation (C2FC); (2) the America's Clean Future Fund; and (3) a carbon fee on the use, sale, or transfer of certain fuels by covered entities. The bill provides appropriations to the C2FC, an independent agency, which must finance clean energy and climate change resiliency activities in order to meet the goal of eliminating greenhouse gas emissions by 2050. The bill also provides appropriations for the America's Clean Future Fund. Amounts in the fund may be used for the C2FC, stimulus payments (i.e., tax rebates) to individuals whose gross incomes do not exceed specified thresholds, decarbonization transition payments to the agricultural sector, and grants to help certain communities and workers transition to a low-carbon economy. Revenues generated from the carbon fee must also be deposited into the America's Clean Future Fund. Beginning in 2023, covered entities (e.g., entities that use, sell, or transfer fossil fuels) must pay a carbon fee of $25 per metric ton of carbon dioxide or carbon dioxide equivalent. The fee increases by $10 each year, multiplied by the cost-of-living adjustment. The fees further increase if the entities miss cumulative greenhouse gas emission targets established by the bill. Refund payments may be provided for carbon capture, sequestration, and utilization.
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Timeline
Mar 10, 2021

Latest Companion Bill Action

S 117-685
Introduced in Senate
Apr 12, 2021
Introduced in House
Apr 12, 2021
Referred to the Subcommittee on Energy.
Apr 12, 2021
Referred to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Agriculture, Education and Labor, Transportation and Infrastructure, Financial Services, Science, Space, and Technology, and Natural Resources, 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.
Apr 13, 2021
Referred to the Subcommittee on Water Resources and Environment.
Apr 13, 2021
Referred to the Subcommittee on Aviation.
Apr 13, 2021
Referred to the Subcommittee on Highways and Transit.
Apr 13, 2021
Referred to the Subcommittee on Energy.
  • March 10, 2021

    Latest Companion Bill Action

    S 117-685
    Introduced in Senate


  • April 12, 2021
    Introduced in House


  • April 12, 2021
    Referred to the Subcommittee on Energy.


  • April 12, 2021
    Referred to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Agriculture, Education and Labor, Transportation and Infrastructure, Financial Services, Science, Space, and Technology, and Natural Resources, 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.


  • April 13, 2021
    Referred to the Subcommittee on Water Resources and Environment.


  • April 13, 2021
    Referred to the Subcommittee on Aviation.


  • April 13, 2021
    Referred to the Subcommittee on Highways and Transit.


  • April 13, 2021
    Referred to the Subcommittee on Energy.

Environmental Protection

Related Bills

  • S 117-685: America's Clean Future Fund Act
Administrative law and regulatory proceduresAgricultural conservation and pollutionAgricultural practices and innovationsAir qualityAlternative and renewable resourcesAppropriationsAtmospheric science and weatherBuy American requirementsClimate change and greenhouse gasesCoalCommunity life and organizationCongressional oversightEcologyEconomic performance and conditionsEmployment and training programsEnergy efficiency and conservationEnvironmental assessment, monitoring, researchEnvironmental Protection Agency (EPA)Environmental regulatory proceduresExecutive agency funding and structureFarmlandFloods and storm protectionForests, forestry, treesGovernment lending and loan guaranteesGovernment studies and investigationsHybrid, electric, and advanced technology vehiclesInflation and pricesLand use and conservationLivestockMarine and coastal resources, fisheriesMetalsMiningMinority and disadvantaged businessesOil and gasPoverty and welfare assistancePublic contracts and procurementSales and excise taxesUser charges and feesWater qualityWetlands

America's Clean Future Fund Act

USA117th CongressHR-2451| House 
| Updated: 4/13/2021
America's Clean Future Fund Act This bill establishes requirements and incentives to reduce greenhouse gas emissions and assist industries, communities, and workers transition to a low-carbon economy, including by establishing (1) the Climate Change Finance Corporation (C2FC); (2) the America's Clean Future Fund; and (3) a carbon fee on the use, sale, or transfer of certain fuels by covered entities. The bill provides appropriations to the C2FC, an independent agency, which must finance clean energy and climate change resiliency activities in order to meet the goal of eliminating greenhouse gas emissions by 2050. The bill also provides appropriations for the America's Clean Future Fund. Amounts in the fund may be used for the C2FC, stimulus payments (i.e., tax rebates) to individuals whose gross incomes do not exceed specified thresholds, decarbonization transition payments to the agricultural sector, and grants to help certain communities and workers transition to a low-carbon economy. Revenues generated from the carbon fee must also be deposited into the America's Clean Future Fund. Beginning in 2023, covered entities (e.g., entities that use, sell, or transfer fossil fuels) must pay a carbon fee of $25 per metric ton of carbon dioxide or carbon dioxide equivalent. The fee increases by $10 each year, multiplied by the cost-of-living adjustment. The fees further increase if the entities miss cumulative greenhouse gas emission targets established by the bill. Refund payments may be provided for carbon capture, sequestration, and utilization.
View Full Text

Suggested Questions

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

Timeline
Mar 10, 2021

Latest Companion Bill Action

S 117-685
Introduced in Senate
Apr 12, 2021
Introduced in House
Apr 12, 2021
Referred to the Subcommittee on Energy.
Apr 12, 2021
Referred to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Agriculture, Education and Labor, Transportation and Infrastructure, Financial Services, Science, Space, and Technology, and Natural Resources, 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.
Apr 13, 2021
Referred to the Subcommittee on Water Resources and Environment.
Apr 13, 2021
Referred to the Subcommittee on Aviation.
Apr 13, 2021
Referred to the Subcommittee on Highways and Transit.
Apr 13, 2021
Referred to the Subcommittee on Energy.
  • March 10, 2021

    Latest Companion Bill Action

    S 117-685
    Introduced in Senate


  • April 12, 2021
    Introduced in House


  • April 12, 2021
    Referred to the Subcommittee on Energy.


  • April 12, 2021
    Referred to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Agriculture, Education and Labor, Transportation and Infrastructure, Financial Services, Science, Space, and Technology, and Natural Resources, 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.


  • April 13, 2021
    Referred to the Subcommittee on Water Resources and Environment.


  • April 13, 2021
    Referred to the Subcommittee on Aviation.


  • April 13, 2021
    Referred to the Subcommittee on Highways and Transit.


  • April 13, 2021
    Referred to the Subcommittee on Energy.
Marie Newman

Marie Newman

Democratic Representative

Illinois

Cosponsors (9)
Nikema Williams (Democratic)Jared Huffman (Democratic)Ritchie Torres (Democratic)Pete Aguilar (Democratic)Juan Vargas (Democratic)Jahana Hayes (Democratic)Salud O. Carbajal (Democratic)Mike Quigley (Democratic)Albio Sires (Democratic)
Committees (13)
• Transportation and Infrastructure Committee• Ways and Means Committee• Energy Subcommittee• Agriculture Committee• Water Resources and Environment Subcommittee• Energy Subcommittee• Highways and Transit Subcommittee• Financial Services Committee• Science, Space, and Technology Committee• Energy and Commerce Committee• Education and Workforce Committee• Aviation Subcommittee• Natural Resources Committee

Environmental Protection

Related Bills

  • S 117-685: America's Clean Future Fund Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Administrative law and regulatory proceduresAgricultural conservation and pollutionAgricultural practices and innovationsAir qualityAlternative and renewable resourcesAppropriationsAtmospheric science and weatherBuy American requirementsClimate change and greenhouse gasesCoalCommunity life and organizationCongressional oversightEcologyEconomic performance and conditionsEmployment and training programsEnergy efficiency and conservationEnvironmental assessment, monitoring, researchEnvironmental Protection Agency (EPA)Environmental regulatory proceduresExecutive agency funding and structureFarmlandFloods and storm protectionForests, forestry, treesGovernment lending and loan guaranteesGovernment studies and investigationsHybrid, electric, and advanced technology vehiclesInflation and pricesLand use and conservationLivestockMarine and coastal resources, fisheriesMetalsMiningMinority and disadvantaged businessesOil and gasPoverty and welfare assistancePublic contracts and procurementSales and excise taxesUser charges and feesWater qualityWetlands