legislation: 115-hr-6928

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
115-hr-6928 115 hr 6928 Consumers REBATE Act Taxation 2018-09-27 2018-09-27 Referred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, Energy and Commerce, Science, Space, and Technology, and Transportation and Infrastructure, 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. House Rep. McNerney, Jerry [D-CA-9] CA D M001166 0 Consumers Rebate to ban Emissions and Boost AlTernative Energy Act or the Consumers REBATE Act This bill imposes an excise tax on the carbon dioxide content of coal, oil, and natural gas. The tax must be paid by the producer, miner, or importer of the taxable carbon substance and does not apply to exports of the substances. Beginning in 2020, the tax rate is $25 per ton of carbon dioxide content of the life-cycle emissions from the taxable carbon substance. After 2020, the tax increases by $10 each year and does not apply if specified emissions reduction benchmarks have been attained. The bill also includes provisions that require certain fees or refunds for taxable carbon substances that are exported or imported. Funds equivalent to the revenues received from the tax must be transferred to a Carbon Trust Fund established by this bill. The funds must be used, as provided by appropriations Acts, to offset reductions in individual income tax rates, pay quarterly dividends to certain individuals with valid Social Security numbers; and for specified worker transition assistance, energy, research, and infrastructure priorities. 2023-01-11T13:41:28Z  

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