the Environmental Protection Agency) necessary to 
ensure that the total fees collected under such sec-
tion with respect to natural gas are equal to the 
total amount of such fees that would be collected on 
natural gas if the fee imposed under section 
4691(a)(1) also applied to the carbon-dioxide equiva-
lent of greenhouse gas emissions reported under sub-
section (a)(2)(B)(iii). 
‘‘SEC. 4695. BORDER ADJUSTMENTS FOR ENERGY-INTEN-
SIVE MANUFACTURED GOODS. 
‘‘(a) PURPOSE.—The purpose of this section is to en-
sure the environmental effectiveness of this subchapter. 
‘‘(b) EXPORTS.— 
‘‘(1) IN GENERAL.—In the case of any energy- 
intensive manufactured good which is exported from 
the United States, the Secretary shall pay to the 
person exporting such good a refund equal to the 
amount of the cost of such good attributable to any 
fees imposed under this subchapter on inputs used 
in the manufacturing of such energy-intensive manu-
factured good (as determined under regulations es-
tablished by the Secretary). 
‘‘(2) REDUCTION IN REFUND.—The amount of 
the refund under paragraph (1) shall be reduced by 
the amount, if any, of fees imposed on such goods 
VerDate Sep 11 2014 
04:33 Feb 07, 2018
Jkt 079200
PO 00000
Frm 00020
Fmt 6652
Sfmt 6201
E:\BILLS\H4926.IH
H4926
lotter on DSKBCFDHB2PROD with BILLS
or comparable domestically produced energy-inten-
sive manufactured goods by the foreign nation or 
governmental unit to which such good is exported. 
‘‘(c) IMPORTS.— 
‘‘(1) IMPOSITION
OF
EQUIVALENCY
FEE.—In 
the case of any energy-intensive manufactured good 
imported into the United States, there is imposed an 
equivalency fee on the person importing such good 
in an amount equal to the cost of such good which 
would be attributable to any fees imposed under this 
subchapter on inputs used in the manufacturing of 
such good if the inputs used in manufacturing such 
good were subject to such fees (as determined under 
regulations established by the Secretary). 
‘‘(2) REDUCTION IN FEE.—The amount of the 
equivalency fee under paragraph (1) shall be reduced 
by the amount, if any, of any fees imposed on such 
energy-intensive manufactured goods by the foreign 
nation or governmental units from which such good 
was imported. 
‘‘(d) TREATMENT
OF ALTERNATIVE POLICIES
AS 
FEES.—Under regulations established by the Secretary, 
foreign policies that have substantially the same effect in 
reducing emissions of greenhouse gases as fees shall be 
VerDate Sep 11 2014 
04:33 Feb 07, 2018
Jkt 079200
PO 00000
Frm 00021
Fmt 6652
Sfmt 6201
E:\BILLS\H4926.IH
H4926
lotter on DSKBCFDHB2PROD with BILLS
treated as fees for purposes of subsections (b)(2) and 
(c)(2). 
‘‘(e) REGULATORY AUTHORITY.— 
‘‘(1) IN GENERAL.—The Secretary shall consult 
with the Administrator of the Environmental Protec-
tion Agency and the Secretary of Energy in estab-
lishing rules and regulations implementing the pur-
poses of this section. 
‘‘(2) TREATIES.—The Secretary, in consulta-
tion with the Secretary of State, may adjust the ap-
plicable amounts of the refunds and equivalency fees 
under this section in a manner that is consistent 
with any obligations of the United States under an 
international agreement. 
‘‘SEC. 4696. DEFINITIONS AND OTHER RULES. 
‘‘(a) DEFINITIONS.—For purposes of this sub-
chapter: 
‘‘(1) 
CARBON
DIOXIDE
EQUIVALENT.—The 
term ‘carbon dioxide equivalent’ means, with respect 
to a greenhouse gas, the quantity of such gas that 
has a global warming potential equivalent to 1 met-
ric ton of carbon dioxide, as determined pursuant to 
table A–1 of subpart A of part 98 of title 40, Code 
of Federal Regulations, as in effect on the date of 
VerDate Sep 11 2014 
04:33 Feb 07, 2018
Jkt 079200
PO 00000
Frm 00022
Fmt 6652
Sfmt 6201
E:\BILLS\H4926.IH
H4926
lotter on DSKBCFDHB2PROD with BILLS
the enactment of the American Opportunity Carbon 
Fee Act of 2018. 
‘‘(2) GREENHOUSE GAS.—The term ‘greenhouse 
gas’ has the meaning given such term under section 
211(o)(1)(G) of the Clean Air Act, as in effect on 
the date of the enactment of the American Oppor-
tunity Carbon Fee Act of 2018. 
‘‘(3) COAL.—The term ‘coal’ has the same 
meaning given such term under section 48A(c)(4). 
‘‘(4) PETROLEUM PRODUCT.—The term ‘petro-
leum product’ has the same meaning given such 
product under section 4612(a)(3). 
‘‘(5) ASSOCIATED EMISSIONS.—The term ‘asso-
ciated emissions’ means greenhouse gas emissions 
attributable to venting, flaring, and leakage across 
the supply chain. 
‘‘(6) SUPPLY CHAIN.—The term ‘supply chain’ 
means extraction and processing of coal and natural 
gas, extraction and refining of petroleum products, 
and the transmission, transport, storage, distribu-
tion, import, export, and other activities related to 
supplying coal, petroleum products, and natural gas 
to a consumer, not otherwise covered elsewhere in 
this subchapter as determined by the Administrator 
of the Environmental Protection Agency. 
VerDate Sep 11 2014 
04:33 Feb 07, 2018
Jkt 079200
PO 00000
Frm 00023
Fmt 6652
Sfmt 6201
E:\BILLS\H4926.IH
H4926
lotter on DSKBCFDHB2PROD with BILLS
‘‘(7) 
ENERGY-INTENSIVE
MANUFACTURED 
GOOD.— 
‘‘(A) IN GENERAL.—The term ‘energy-in-
tensive manufactured good’ means any manu-
factured good (other than any petroleum prod-
uct or fossil fuel) for which not less than 5 per-
cent of the cost of which is attributable to en-
ergy costs, as determined by the Secretary. 
‘‘(B) LIST OF ENERGY-INTENSIVE MANU-
FACTURED GOODS.— 
‘‘(i) INITIAL
LIST.—Not later than 
180 days after the date of the enactment 
of this Act, the Secretary shall publish a 
list of goods which qualify as energy-inten-
sive manufactured goods. 
‘‘(ii) UPDATES.—Not less frequently 
than annually, the Secretary shall update 
the list published under this subparagraph. 
‘‘(8) TON.— 
‘‘(A) IN GENERAL.—The term ‘ton’ means 
1,000 kilograms. In the case of any greenhouse 
gas which is a gas, the term ‘ton’ means the 
amount of such gas in cubic meters which is the 
equivalent of 1,000 kilograms on a molecular 
weight basis. 
VerDate Sep 11 2014 
04:33 Feb 07, 2018
Jkt 079200
PO 00000
Frm 00024
Fmt 6652
Sfmt 6201
E:\BILLS\H4926.IH
H4926
lotter on DSKBCFDHB2PROD with BILLS
‘‘(B) FRACTIONAL PART OF TON.—In the 
case of a fraction of a ton, any fee imposed by 
this subchapter on such fraction shall be the 
same fraction of the amount of such fee im-
posed on a whole ton. 
‘‘(9) UNITED
STATES.—The term ‘United 
States’ has the meaning given such term by section 
4612(a)(4). 
‘‘(b) OTHER RULES.— 
‘‘(1) ASSESSMENT AND COLLECTION.—Payment 
of the fee imposed by sections 4691, 4692, and 4693 
shall be assessed and collected in the same manner 
as taxes under this subtitle. 
‘‘(2) REGULATIONS.—The Secretary shall pre-
scribe such regulations as may be necessary to carry 
out the provisions of this subchapter.’’. 
(b) CLERICAL AMENDMENT.—The table of sub-
chapters for chapter 38 of the Internal Revenue Code of 
1986 is amended by adding at the end the following new 
item: 
‘‘SUBCHAPTER E—CARBON DIOXIDE AND OTHER GREENHOUSE GAS EMISSION 
FEES’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2018. 
VerDate Sep 11 2014 
04:33 Feb 07, 2018
Jkt 079200
PO 00000
Frm 00025
Fmt 6652
Sfmt 6201
E:\BILLS\H4926.IH
H4926
lotter on DSKBCFDHB2PROD with BILLS
TITLE II—RETURNING FEE REV-
ENUE 
TO 
THE 
AMERICAN 
PEOPLE 
SEC. 201. ESTABLISHMENT OF REFUNDABLE CREDIT FOR 
WORKERS. 
(a) IN GENERAL.—Subpart C of part IV of sub-
chapter A of chapter 1 of the Internal Revenue Code of 
1986 is amended by inserting after section 36 the fol-
lowing new section: 
‘‘SEC. 36A. CARBON FEE OFFSET CREDIT. 
‘‘(a) IN GENERAL.—In the case of an eligible indi-
vidual, there shall be allowed as a credit against the tax 
imposed by this subtitle for the taxable year an amount 
equal to the lesser of— 
‘‘(1) 6.2 percent of the earned income of the 
taxpayer, or 
‘‘(2) $800 (twice such amount in the case of a 
joint return). 
‘‘(b) ELIGIBLE INDIVIDUAL.—For purposes of this 
section, the term ‘eligible individual’ means any individual 
other than— 
‘‘(1) any nonresident alien individual, 
‘‘(2) any individual with respect to whom a de-
duction under section 151 is allowable to another 
taxpayer for a taxable year beginning in the cal-
VerDate Sep 11 2014 
04:33 Feb 07, 2018
Jkt 079200
PO 00000
Frm 00026
Fmt 6652
Sfmt 6201
E:\BILLS\H4926.IH
H4926
lotter on DSKBCFDHB2PROD with BILLS
endar year in which the individual’s taxable year be-
gins, and 
‘‘(3) any individual who, for the month of De-
cember of the taxable year, was entitled to or eligible 
for a benefit payment described in paragraph (1) or 
(2) of section 202(b) of the American Opportunity 
Carbon Fee Act of 2018. 
‘‘(c) EARNED INCOME.— 
‘‘(1) IN GENERAL.—For purposes of this sec-
tion, the term ‘earned income’ has the meaning 
given such term by section 32(c)(2), except that 
such term shall not include net earnings from self- 
employment which are not taken into account in 
computing taxable income. 
‘‘(2) CERTAIN COMBAT ZONE COMPENSATION.— 
For purposes of paragraph (1), any amount ex-
cluded from gross income by reason of section 112 
shall be treated as earned income which is taken 
into account in computing taxable income for the 
taxable year. 
‘‘(d) INFLATION ADJUSTMENT.— 
‘‘(1) IN GENERAL.—In the case of a taxable 
year beginning after 2019, the $800 amount in sub-
section (a)(2) shall be increased by an amount equal 
to— 
VerDate Sep 11 2014 
04:33 Feb 07, 2018
Jkt 079200
PO 00000
Frm 00027
Fmt 6652
Sfmt 6201
E:\BILLS\H4926.IH
H4926
lotter on DSKBCFDHB2PROD with BILLS
‘‘(A) such dollar amount, multiplied by 
‘‘(B) the percentage (if any) by which— 
‘‘(i) the CPI for the preceding cal-
endar year, exceeds 
‘‘(ii) the CPI for calendar year 2018. 
‘‘(2) CPI.—Rules similar to the rules of para-
graphs (4) and (5) of section 1(f) shall apply for 
purposes of this subsection. 
‘‘(3) ROUNDING.—If any dollar amount, after 
being increased under paragraph (1), is not a mul-
tiple of $10, such dollar amount shall be rounded to 
the next lowest multiple of $10.’’. 
(b) REFUNDS DISREGARDED IN THE ADMINISTRA-
TION
OF FEDERAL PROGRAMS
AND FEDERALLY AS-
SISTED PROGRAMS.—Any credit or refund allowed or 
made to any individual by reason of section 36A of the 
Internal Revenue Code of 1986 (as added by this section) 
shall not be taken into account as income and shall not 
be taken into account as resources for purposes of deter-
mining the eligibility of such individual or any other indi-
vidual for benefits or assistance, or the amount or extent 
of benefits or assistance, under any Federal program or 
under any State or local program financed in whole or in 
part with Federal funds. 
(c) CONFORMING AMENDMENTS.— 
VerDate Sep 11 2014 
04:33 Feb 07, 2018
Jkt 079200
PO 00000
Frm 00028
Fmt 6652
Sfmt 6201
E:\BILLS\H4926.IH
H4926
lotter on DSKBCFDHB2PROD with BILLS
(1) Section 6211(b)(4)(A) of the Internal Rev-
enue Code of 1986 is amended by inserting ‘‘36A,’’ 
after ‘‘36,’’. 
(2) The table of sections for subpart C of part 
IV of subchapter A of chapter 1 of such Code is 
amended by inserting after the item relating to sec-
tion 36 the following new item: 
‘‘Sec. 36A. Carbon fee offset credit.’’. 
(d) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2018. 
SEC. 202. ESTABLISHMENT OF PAYMENTS TO SOCIAL SECU-
RITY BENEFICIARIES AND OTHER RETIRED 
AND DISABLED AMERICANS. 
(a) AUTHORITY TO MAKE PAYMENTS.—The Sec-
retary of the Treasury or the Secretary of the Treasury’s 
delegate (referred to in this section as the ‘‘Secretary’’) 
shall, during the period between April 1 and May 15 of 
calendar year 2020 and each year thereafter, disburse a 
payment to each eligible beneficiary in an amount equal 
to the amount in effect for taxable years beginning in the 
preceding calendar year under section 36A(a)(2) of the In-
ternal Revenue Code of 1986. 
(b) ELIGIBLE BENEFICIARY.—For purposes of this 
section, the term ‘‘eligible beneficiary’’ means an indi-
VerDate Sep 11 2014 
04:33 Feb 07, 2018
Jkt 079200
PO 00000
Frm 00029
Fmt 6652
Sfmt 6201
E:\BILLS\H4926.IH
H4926
lotter on DSKBCFDHB2PROD with BILLS
vidual who, for the month of December of the preceding 
year, was— 
(1) entitled to any benefit payment described in 
subparagraph (B) of section 2201(a)(1) of the 
American Recovery and Reinvestment Act of 2009; 
or 
(2) eligible for a benefit payment described in 
subparagraph (C) of such section. 
(c) RESIDENCY REQUIREMENT.—A payment may be 
made under this section only to an eligible beneficiary who 
resides in any State (as defined in section 204(f)), as de-
termined based on the current address of record for such 
beneficiary under the applicable program for payment of 
benefits described in subsection (b). 
(d) NO DOUBLE PAYMENTS.—An eligible beneficiary 
may not receive more than 1 payment per calendar year 
under this section, regardless of whether such beneficiary 
is entitled to or eligible for more than 1 benefit payment 
described in paragraph (1) or (2) of subsection (b). 
(e) IDENTIFICATION OF RECIPIENTS.—The Commis-
sioner of Social Security, the Railroad Retirement Board, 
and the Secretary of Veterans Affairs shall certify the eli-
gible beneficiaries entitled to receive payments under this 
section and provide the Secretary with any information 
necessary to disburse such payments. 
VerDate Sep 11 2014 
04:33 Feb 07, 2018
Jkt 079200
PO 00000
Frm 00030
Fmt 6652
Sfmt 6201
E:\BILLS\H4926.IH
H4926
lotter on DSKBCFDHB2PROD with BILLS