American Opportunity Carbon Fee Act of 2017
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Jul 26, 2017)
American Opportunity Carbon Fee Act of 2017
This bill amends the Internal Revenue Code to impose fees on: (1) fossil fuel products producing carbon dioxide emissions, including coal, petroleum products, and natural gas; (2) fluorinated greenhouse gases; (3) emissions of any greenhouse gas from any greenhouse gas emissions source; 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, veterans, and disabled individuals;
- make cost mitigation grants to states to assist low-income and rural households and provide job training and worker transition assistance; and
- establish a website to make regular disclosures concerning revenue, tax savings, and benefits attributable to this bill.
The bill also: (1) reduces the maximum income tax rate on corporations to 29% of taxable income over $75,000; and (2) allows a new carbon fee offset tax credit for the lesser of: 6.2% of earned income, or $550.
What just happenedJul 28, 2017
Referred to the Subcommittee on Environment.
Who’s behind it
- Introduced in HouseJul 26, 2017
- Jul 28, 2017Committee
Referred to the Subcommittee on Environment.
Environment, Manufacturing, and Critical Materials Subcommittee - Jul 27, 2017Committee
Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
Railroads, Pipelines, and Hazardous Materials Subcommittee - Jul 26, 2017IntroReferralH11100
Referred to the Committee on Ways and Means, and in addition to the Committees on Transportation and Infrastructure, Veterans' Affairs, Energy and Commerce, and Education and the Workforce, 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.
Education and the Workforce Committee - Jul 26, 2017IntroReferralH11100
Referred to the Committee on Ways and Means, and in addition to the Committees on Transportation and Infrastructure, Veterans' Affairs, Energy and Commerce, and Education and the Workforce, 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.
Energy and Commerce Committee - Jul 26, 2017IntroReferralH11100
Referred to the Committee on Ways and Means, and in addition to the Committees on Transportation and Infrastructure, Veterans' Affairs, Energy and Commerce, and Education and the Workforce, 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.
Veterans' Affairs Committee - Jul 26, 2017IntroReferralH11100
Referred to the Committee on Ways and Means, and in addition to the Committees on Transportation and Infrastructure, Veterans' Affairs, Energy and Commerce, and Education and the Workforce, 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.
Transportation and Infrastructure Committee - Jul 26, 2017IntroReferralH11100
Referred to the Committee on Ways and Means, and in addition to the Committees on Transportation and Infrastructure, Veterans' Affairs, Energy and Commerce, and Education and the Workforce, 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.
Ways and Means Committee - Jul 26, 2017IntroReferralB00100
Sponsor introductory remarks on measure. (CR E1057)
- Jul 26, 2017IntroReferralIntro-H
Introduced in House
- Jul 26, 2017IntroReferral1000
Introduced in House