Coherent Identifier About this item: 20.500.12592/57n0kj

CARBON PRICING PROPOSALS IN THE 117TH CONGRESS

1 July 2021

Summary

The Fitzpatrick proposal • The Modernizing America with Rebuilding to would replace the gas and aviation fuel tax with a carbon Kickstart the Economy of the Twenty-first Century tax. [...] The proposal would place innovation and investments in clean energy and climate a fee on fluorinated gases that, starting in 2023, would resilience, provide transition assistance for impacted be ten percent of the carbon fee, and would increase communities, provide rebates back to the American pub- 10 percent annually until reaching 100 percent of the lic, payments for agricultural- and land-based. [...] Center for Climate and Energy Solutions 9 COMPARISON OF CARBON PRICING PROPOSALS IN THE 117TH CONGRESS JUNE 2021 PROPOSAL TAX CREDITS OR REFUNDS America’s Clean Treasury secretary, in consultation with EPA Administrator and Energy Secretary, can issue pay- Future Fund Act ments in the amount of the carbon fee for the utilization or capture and secure storage of carbon dioxide or for direct air cap. [...] MARKET CHOICE The bill creates a trust and would allocate three-quarters of the revenue from the program to the Act trust for the following: 70% for the Federal Highway Trust Fund; 10% to states in the form of grants for low-income households; 4% for flooding mitigation and adaptation infrastructure projects; 3% for displaced energy workers; 2.5% for the Airport and Airway Trust Fund; 2.2% for car. [...] The Energy Secretary shall enter into an agreement with the National Academies of Science and the EPA Administrator to conduct a study and make recommendations on the carbon fee impact on the use of biomass as an energy source and the resulting impact on carbon sinks and biodiver- sity.

Pages
15
C2ES
Center for Climate and Energy Solutions

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