ments under the Greenhouse Gas Re-
porting Program, and 
‘‘(II) 
any 
other 
information 
which is necessary (as determined by 
the Secretary, in coordination with the 
relevant parties) to calculate the car-
bon intensity of the covered primary 
good in accordance with any relevant 
methodologies for allocating the car-
bon intensity of the covered primary 
good under paragraph (1)(C)(iv). 
‘‘(C) INPUTS.—With respect to any cov-
ered primary good which is imported into the 
United States and for which other covered pri-
mary goods (other than petroleum, natural gas, 
or coal) were used as inputs by the manufac-
turer in the production of the imported covered 
primary good, any greenhouse gas emissions as-
sociated with the production of the covered pri-
mary goods used as inputs shall be included in 
the determination of the greenhouse gas emis-
sions associated with production of the im-
ported covered primary good. 
‘‘(D) CARBON
INTENSITY
OF
THE
GEN-
ERAL ECONOMY.—For purposes of this para-
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graph, with respect to any country, the carbon 
intensity of the general economy of such coun-
try shall be an amount equal to the quotient 
of— 
‘‘(i) the greenhouse gas emissions of 
such country for the most recent year for 
which the Secretary determines there is re-
liable information, divided by 
‘‘(ii) the gross domestic product of 
such country for the year described in 
clause (i). 
‘‘(E) EXCLUSION.— 
‘‘(i) IN GENERAL.—Subject to clause 
(ii), in the case of any covered primary 
good (including any covered primary good 
which is a component part of a finished 
good) which is imported into the United 
States and was produced in a relatively 
least developed country (as described in 
section 124 of the Foreign Assistance Act 
of 1961 (22 U.S.C. 2151v)), this para-
graph shall not apply. 
‘‘(ii) EXCEPTION.—Clause (i) shall 
not apply if the country described in such 
clause produces at least 3 percent of total 
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global exports by value of the covered pri-
mary good. 
‘‘(F) 
INTER-FIRM
RESOURCE
SHUF-
FLING.—For purposes of this paragraph, the 
term ‘inter-firm resource shuffling’ means any 
buying, selling, trading, exchanging, or other 
transfer of control of production facilities be-
tween entities based on the carbon intensity of 
such facilities for the purpose of creating enti-
ties with relatively lower carbon intensity and 
entities with relatively higher carbon intensity. 
‘‘(c) PUBLICATION.—The Secretary (in coordination 
with the relevant parties) shall— 
‘‘(1) annually publish any carbon intensity 
which has been determined under subsection (b) 
with respect to any eligible facility, covered national 
industry, covered primary good, foreign manufac-
turer, or country of origin, and 
‘‘(2) publish (and update, as appropriate) a list 
of— 
‘‘(A) each covered primary good, as cat-
egorized by the covered national industry in 
which such good is included, and 
‘‘(B) any covered primary good for which 
a petition described in clause (i) of subsection 
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(b)(1)(C) has been approved by the Secretary 
pursuant to clause (ii) of such subsection. 
‘‘SEC. 4692. IMPOSITION OF CARBON INTENSITY CHARGE. 
‘‘(a) IN GENERAL.— 
‘‘(1) IMPORTATION OF GOODS.— 
‘‘(A) IN GENERAL.— 
‘‘(i) COVERED
PRIMARY
GOODS.—In 
the case of any covered primary good im-
ported into the United States during any 
calendar year beginning after December 
31, 2024, there is hereby imposed a charge 
in an amount (rounded to the nearest dol-
lar) equal to the product of— 
‘‘(I)(aa) in the case of a good for 
which the carbon intensity is deter-
mined under section 4691(b)(3)(A)(i), 
the amount (if any) by which the 
amount determined under clause (iii) 
with respect to such good exceeds an 
amount equal to the applicable per-
centage of the relevant carbon inten-
sity for such good, or 
‘‘(bb) in the case of a good for 
which the carbon intensity is deter-
mined under subparagraph (A)(ii) or 
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(B) of section 4691(b)(3), the amount 
(if any) by which the carbon intensity 
determined under such subparagraph 
with respect to such good exceeds an 
amount equal to the applicable per-
centage of the relevant carbon inten-
sity for such good, multiplied by 
‘‘(II) the total weight (expressed 
in tons) of the good imported into the 
United States, multiplied by 
‘‘(III) the carbon price. 
‘‘(ii) FINISHED GOODS.— 
‘‘(I) IN GENERAL.—In the case 
of any finished good which is im-
ported into the United States during 
any calendar year beginning after De-
cember 31, 2026, there is hereby im-
posed a charge in an amount equal to 
the sum of the amounts determined 
under subclause (II) with respect to 
each covered primary good which is a 
component part of such finished good. 
‘‘(II) 
COMPONENTS.—The 
amount determined under this sub-
clause with respect to any covered pri-
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mary good which is a component part 
of a finished good is an amount equal 
to the product of— 
‘‘(aa) the amount (if any) 
determined under clause (i)(I) if 
such clause were applied with re-
spect to such good, multiplied by 
‘‘(bb) the total weight (ex-
pressed in tons) of the covered 
primary good, multiplied by 
‘‘(cc) the carbon price. 
‘‘(iii) CALCULATION
FOR
CERTAIN 
FOREIGN GOODS.—For purposes of clause 
(i)(I)(aa), the amount determined under 
this clause with respect to any covered pri-
mary good shall be equal to the product 
of— 
‘‘(I) an amount equal to the 
quotient of— 
‘‘(aa) the carbon intensity of 
the general economy (as deter-
mined 
under 
section 
4691(b)(3)(D)) of the country of 
origin of such good, divided by 
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‘‘(bb) the carbon intensity of 
the general economy (as so deter-
mined) of the United States, 
multiplied by 
‘‘(II) an amount equal to the ap-
plicable percentage of the relevant 
carbon intensity for such good. 
‘‘(B) CHARGE DUE.—The charge imposed 
under this paragraph with respect to any goods 
imported during any calendar year shall be paid 
by the entity which imported such goods not 
later than September 30 of the calendar year 
subsequent to such year. 
‘‘(C) EXCLUSION.— 
‘‘(i) IN GENERAL.—Subject to clause 
(ii), in the case of any covered primary 
good (including any covered primary good 
which is a component part of a finished 
good) which is imported into the United 
States and was produced in a relatively 
least developed country (as described in 
section 124 of the Foreign Assistance Act 
of 1961 (22 U.S.C. 2151v)), this para-
graph shall not apply. 
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‘‘(ii) EXCEPTION.—Clause (i) shall 
not apply if the country described in such 
clause produces at least 3 percent of total 
global exports by value of the covered pri-
mary good. 
‘‘(D) CARBON
CLUBS.—If the Secretary 
(in coordination with the relevant parties) de-
termines that a foreign country has imple-
mented policies which impose explicit costs on 
the emission of greenhouse gases which are ma-
terially similar to the charges imposed pursuant 
to the provisions of this subchapter, the charge 
(or a percentage of the charge which is equiva-
lent to the costs imposed by the foreign coun-
try) which would otherwise be imposed under 
this section with respect to covered primary 
goods produced in such foreign country may be 
waived. 
‘‘(E) RELEVANT CARBON INTENSITY.—In 
this paragraph, the term ‘relevant carbon inten-
sity’ means, with respect to any covered pri-
mary good— 
‘‘(i) except as provided in clause (ii), 
the carbon intensity (as determined under 
section 4691(b)(1)(B)) for the covered na-
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tional industry which includes such good, 
or 
‘‘(ii) in the case of any covered pri-
mary good which is included in a petition 
described 
in 
clause 
(i) 
of 
section 
4691(b)(1)(C) which is approved by the 
Secretary pursuant to clause (ii) of such 
section, the carbon intensity of such good 
as determined under such section. 
‘‘(2) DOMESTIC PRODUCTION OF COVERED PRI-
MARY GOODS.— 
‘‘(A) IN GENERAL.—In the case of any eli-
gible facility, for each calendar year beginning 
after December 31, 2024, there is hereby im-
posed a charge in an amount (rounded to the 
nearest dollar) equal to the product of— 
‘‘(i) the amount (if any) by which the 
carbon intensity of such facility (as deter-
mined under subparagraph (A) of section 
4691(b)(1)) exceeds— 
‘‘(I) an amount equal to the ap-
plicable percentage of the carbon in-
tensity for the covered national indus-
try (as determined under subpara-
graph (B) of section 4691(b)(1)) 
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which includes any covered primary 
good produced by such facility, or 
‘‘(II) in the case of a covered pri-
mary good produced by such facility 
which is subject to an approved peti-
tion under subparagraph (C) of such 
section, an amount equal to the appli-
cable percentage of the carbon inten-
sity determined with respect to such 
good, multiplied by 
‘‘(ii) the total weight (expressed in 
tons) of any covered primary goods pro-
duced by such facility during such calendar 
year, multiplied by 
‘‘(iii) the carbon price. 
‘‘(B) CHARGE DUE.—The charge imposed 
under this paragraph with respect to any cal-
endar year shall be paid by the covered entity 
not later than September 30 of the calendar 
year subsequent to such year. 
‘‘(b) APPLICABLE PERCENTAGE.—For purposes of 
paragraphs (1)(A) and (2)(A) of subsection (a), the appli-
cable percentage shall be— 
‘‘(1) for calendar year 2025, 100 percent, 
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‘‘(2) for calendar years 2026 through 2029, the 
applicable percentage for the preceding calendar 
year, reduced by 2.5 percentage points, and 
‘‘(3) for any calendar year subsequent to cal-
endar year 2029, the applicable percentage for the 
preceding calendar year, reduced by 5 percentage 
points (but not less than zero). 
‘‘(c) CARBON PRICE.— 
‘‘(1) IN
GENERAL.—For purposes of para-
graphs (1)(A) and (2)(A) of subsection (a), the car-
bon price shall be— 
‘‘(A) for 2025, $55, and 
‘‘(B) for each calendar year subsequent to 
the calendar year described in subparagraph 
(A), an amount equal to the sum of— 
‘‘(i) the carbon price for the preceding 
year, plus 
‘‘(ii) an amount equal to— 
‘‘(I) the amount described in 
clause (i), multiplied by 
‘‘(II) the percentage by which the 
CPI for the preceding calendar year 
exceeds the CPI for the second pre-
ceding calendar year, increased by 5 
percentage points. 
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‘‘(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.—Any applicable amount de-
termined under this subsection which is not a mul-
tiple of $1 shall be rounded to the nearest dollar. 
‘‘SEC. 4693. REBATE. 
‘‘(a) EXPORTATION OF COVERED PRIMARY GOOD.— 
In the case of a person who exports any covered primary 
good from the United States which was produced in an 
eligible facility for which a charge has been imposed under 
section 4692, a refund shall be allowed to such person in 
the same manner as if it were an overpayment of the 
charge imposed by such section in an amount equal to the 
charge 
that 
would 
be 
imposed 
under 
subsection 
(a)(1)(A)(i) of such section with respect to such good if 
the carbon intensity with respect to such eligible facility 
were determined under section 4691(b)(1)(A) by sub-
stituting ‘all eligible facilities by the covered entity which 
produced the covered primary good described in section 
4693(a)(1)’ for ‘such facility’ each place it appears in such 
section. 
‘‘(b) EXPORTATION
OF FINISHED GOOD.—In the 
case of a person who exports any finished good from the 
United States for which a charge has been imposed under 
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section 4692 on such finished good or any of its compo-
nents, a refund shall be allowed to such person in the same 
manner as if it were an overpayment of the charge im-
posed by such section in an amount equal to the charge 
that would otherwise be imposed under such section with 
respect to such finished good (as determined pursuant to 
subsection (a)(1)(A)(ii) of such section). 
‘‘SEC. 4694. DEFINITIONS. 
‘‘For purposes of this subchapter— 
‘‘(1) ADMINISTRATOR.—The term ‘Adminis-
trator’ means the Administrator of the Environ-
mental Protection Agency. 
‘‘(2) C02-E.— 
‘‘(A) IN
GENERAL.—Subject to subpara-
graph (B), the term ‘CO2-e’ means, with re-
spect to a greenhouse gas, the quantity of such 
gas that has a global warming potential equiva-
lent to 1 metric ton of carbon dioxide, as deter-
mined pursuant to table A–1 of subpart A of 
part 98 of title 40, Code of Federal Regula-
tions, as in effect on the date of the enactment 
of this subchapter. 
‘‘(B) METHANE.—In the case of methane, 
the term ‘CO2-e’ means the quantity of meth-
ane that has the same global warming potential 
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over a 20-year period as 1 metric ton of carbon 
dioxide, as determined by the Administrator. 
‘‘(3) COVERED ENTITY.—The term ‘covered en-
tity’ means any entity which— 
‘‘(A) produces any covered primary good, 
and 
‘‘(B) is required to report emissions of 
greenhouse gases under the Greenhouse Gas 
Reporting Program (or would be required to re-
port such emissions notwithstanding any other 
provision of law prohibiting the implementation 
of or use of funds for such requirements). 
‘‘(4) COVERED NATIONAL INDUSTRY.— 
‘‘(A) IN
GENERAL.—Except as provided 
under section 4691(b)(1)(B)(ii), the term ‘cov-
ered national industry’ means any industry 
which is assigned a 6-digit NAICS code which 
is included in any of the following clauses: 
‘‘(i) 211120 (petroleum extraction). 
‘‘(ii) 211130 (natural gas extraction). 
‘‘(iii) 212114 (surface coal mining). 
‘‘(iv) 212115 (underground coal min-
ing). 
‘‘(v) 322110 (pulp mills). 
‘‘(vi) 322120 (paper mills). 
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‘‘(vii) 322130 (paperboard mills). 
‘‘(viii) 324110 (petroleum refineries). 
‘‘(ix) 324121 (asphalt paving mixture 
and block manufacturing). 
‘‘(x) 324122 (asphalt shingle and 
coating materials manufacturing). 
‘‘(xi) 324199 (all other petroleum and 
coal products manufacturing). 
‘‘(xii) 325110 (petrochemical manu-
facturing). 
‘‘(xiii) 325120 (industrial gas manu-
facturing). 
‘‘(xiv) 325193 (ethyl alcohol manufac-
turing). 
‘‘(xv) 325199 (other basic organic 
chemical manufacturing). 
‘‘(xvi) 325311 (nitrogenous fertilizer 
manufacturing). 
‘‘(xvii) 327211, 327212, 327213, or 
327215 (glass). 
‘‘(xviii) 327310 (cement). 
‘‘(xix) 327410 or 327420 (lime and 
gypsum product manufacturing). 
‘‘(xx) 331110 (iron and steel). 
‘‘(xxi) 331313 or 331314 (aluminum). 
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‘‘(B) EXCEPTIONS.— 
‘‘(i) 
INDUSTRIAL
GAS
MANUFAC-
TURING.—Subparagraph 
(A)(xiii) 
shall 
apply only with respect to the production 
of hydrogen. 
‘‘(ii) OTHER
BASIC
ORGANIC
CHEM-
ICAL
MANUFACTURING.—Subparagraph 
(A)(xv) shall apply only with respect to the 
production of adipic acid. 
‘‘(5) COVERED PRIMARY GOOD.—The term ‘cov-
ered primary good’ means any good which is pro-
duced as part of a trade or business operating with-
in a covered national industry, and includes (except 
as otherwise provided under section 4691(b)(1)(C)) 
any good classifiable under the same 6-digit sub-
heading of the Harmonized Tariff Schedule of the 
United States. 
‘‘(6) ELIGIBLE
FACILITY.—The term ‘eligible 
facility’ means any facility (as such term is defined 
for purposes of the Greenhouse Gas Reporting Pro-
gram) which is— 
‘‘(A) operated by a covered entity for the 
production of any covered primary good, and 
‘‘(B) located within the United States. 
‘‘(7) FINISHED GOOD.— 
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‘‘(A) IN
GENERAL.—The term ‘finished 
good’ means any good which— 
‘‘(i) for calendar years 2027 and 
2028— 
‘‘(I) contains greater than 500 
pounds of any combination of any cov-
ered primary goods, or 
‘‘(II) was produced from inputs 
of any combination of covered primary 
goods, the value of which comprise 
more than 90 percent of the total 
value of the material inputs involved 
in the production of such good, 
‘‘(ii) for calendar years 2029 and 
2030— 
‘‘(I) contains greater than 100 
pounds of any combination of any cov-
ered primary goods, or 
‘‘(II) was produced from inputs 
of any combination of covered primary 
goods, the value of which comprise 
more than 75 percent of the total 
value of the material inputs involved 
in the production of such good, and 
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‘‘(iii) for any calendar year after cal-
endar year 2030— 
‘‘(I) contains greater than such 
amount as is determined by the Sec-
retary (as determined in coordination 
with the relevant parties, and which 
shall not be greater than 100 pounds) 
of any combination of any covered pri-
mary goods, or 
‘‘(II) was produced from inputs 
of any combination of covered primary 
goods, the value of which comprise 
more than such percentage as is de-
termined by the Secretary (as deter-
mined in coordination with the rel-
evant parties, and which shall not be 
greater than 75 percent) of the total 
value of the material inputs involved 
in the production of such good. 
‘‘(B) EXCEPTION .—The term ‘finished 
good’ shall not include any waste or scrap prod-
uct which is imported or exported. 
‘‘(8) GREENHOUSE GAS.—The term ‘greenhouse 
gas’ has the meaning given such term under section 
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211(o)(1)(G) of the Clean Air Act, as in effect on 
the date of the enactment of this subchapter. 
‘‘(9) GREENHOUSE GAS EMISSIONS.—The term 
‘greenhouse gas emissions’ means the amount of 
greenhouse gases, expressed in metric tons of CO2- 
e, which were emitted to the atmosphere. 
‘‘(10) GREENHOUSE
GAS
REPORTING
PRO-
GRAM.—The term ‘Greenhouse Gas Reporting Pro-
gram’ means the Greenhouse Gas Reporting Pro-
gram established under part 98 of title 40, Code of 
Federal Regulations. 
‘‘(11) NAICS.—The term ‘NAICS’ means the 
North American Industrial Classification System. 
‘‘(12) REGIONAL
GRID.—The term ‘regional 
grid’ means the smallest defined region of inter-
connected power grid (including power generation 
assets) from which a facility draws power that ac-
counts for the total power supplied to the facility by 
the grid and for which there is reliable data. 
‘‘(13) RELEVANT PARTIES.—The term ‘relevant 
parties’ means— 
‘‘(A) the Administrator, 
‘‘(B) the Secretary of Energy, 
‘‘(C) the Secretary of Commerce, 
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‘‘(D) the United States Trade Representa-
tive, and 
‘‘(E) the Chair and Vice Chair of the 
United States International Trade Commis-
sion.’’. 
(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 thereof the fol-
lowing new item: 
‘‘SUBCHAPTER E—CARBON INTENSITY CHARGE’’. 
(c) GRANT PROGRAM.— 
(1) IN GENERAL.—For fiscal year 2026 and 
each subsequent fiscal year, there are appropriated, 
out of any funds in the Treasury not otherwise ap-
propriated, to the Department of the Treasury 
amounts equal to applicable amount for the pre-
ceding fiscal year, with such amounts to be used by 
the Secretary, in conjunction with the Secretary of 
Energy and the Administrator of the Environmental 
Protection Agency, to establish a competitive grant 
program to award grants to eligible entities for in-
vestments in new technology— 
(A) in the case of an existing eligible facil-
ity, to reduce their carbon intensity, and 
(B) in the case of a proposed eligible facil-
ity, to ensure best-in-class carbon intensity. 
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(2) MODELED ON DIESEL EMISSIONS REDUC-
TION ACT.—For purposes of the program described 
in paragraph (1), such program shall be adminis-
tered in a manner similar to the national grant pro-
gram of the Environmental Protection Agency under 
subtitle G of title VII of the Energy Policy Act of 
2005 (42 U.S.C. 16131 et seq.). 
(3) AWARDING OF GRANT AMOUNTS.—For pur-
poses of awarding grants under the program de-
scribed in paragraph (1), the Secretary (in conjunc-
tion with the Administrator and the Secretary of 
Energy) shall— 
(A) give preference to proposed invest-
ments— 
(i) that would result in the greatest 
decrease in carbon intensity, 
(ii) for facilities located in economi-
cally distressed communities that have ex-
perienced a loss of manufacturing jobs, 
(iii) that would maximize improve-
ment in local air quality, or 
(iv) for facilities located in commu-
nities with high cumulative pollution bur-
dens (as determined by the Administrator), 
and 
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(B) allocate grant funds to eligible facili-
ties and proposed eligible facilities which 
produce covered primary goods that are in-
cluded within a covered national industry in ap-
proximate proportion to the share of total 
greenhouse gas emissions for which such indus-
try is responsible for emitting. 
(4) RECAPTURE.—In the case of any eligible 
entity which has been awarded a grant under the 
program described in paragraph (1) with respect to 
any eligible facility or proposed eligible facility, if 
such entity fails to— 
(A) within 3 years of the awarding of such 
grant, complete the proposed investments in 
new technology at such facility, or 
(B) during the 10-year period after such 
investments are placed in service— 
(i) in the case of an existing eligible 
facility, achieve and maintain the reduction 
in carbon intensity proposed in the applica-
tion for such grant, or 
(ii) in the case of a proposed eligible 
facility, achieve and maintain the best-in- 
class carbon intensity proposed in the ap-
plication for such grant, 
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the Secretary shall recapture, pursuant to such reg-
ulations or other guidance issued by the Secretary, 
the amount of the grant awarded with respect to 
such facility. 
(5) APPLICABLE
AMOUNT.—For purposes of 
this subsection, the term ‘‘applicable amount’’ 
means, with respect to any fiscal year, an amount 
equal to 75 percent of the increase in revenues to 
the Treasury during such fiscal year by reason of 
the application of subchapter E of chapter 38 of the 
Internal Revenue Code of 1986 (as added by sub-
section (a)). 
(6) DEFINITIONS.—For purposes of this sub-
section— 
(A) IN GENERAL.—The terms ‘‘covered na-
tional industry’’, ‘‘eligible facility’’, and ‘‘cov-
ered primary good’’ shall have the same mean-
ing given such terms under section 4694 of the 
Internal Revenue Code of 1986 (as added by 
subsection (a)). 
(B) BEST-IN-CLASS CARBON INTENSITY.— 
The term ‘‘best-in-class carbon intensity’’ 
means, with respect to any proposed eligible fa-
cility, that the carbon intensity of such facility 
would be not greater than the carbon intensity 
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of the existing facility with the lowest carbon 
intensity within the relevant covered national 
industry (as determined of the date of the ap-
plication for a grant under the program de-
scribed in paragraph (1)). 
(C) ELIGIBLE ENTITY.—The term ‘‘eligible 
entity’’ means any person which operates an eli-
gible facility or will operate a proposed eligible 
facility. 
(D) SECRETARY.—The term ‘‘Secretary’’ 
means the Secretary of the Treasury (or the 
Secretary’s delegate). 
(d) ECONOMIC SUPPORT FUND OF DEPARTMENT OF 
STATE.— 
(1) IN GENERAL.—For fiscal year 2026 and 
each subsequent fiscal year, in addition to amounts 
otherwise available, there are appropriated, out of 
any funds in the Treasury not otherwise appro-
priated, to the Department of State an amount 
equal to the applicable amount for the preceding fis-
cal year, with such amount to be made available for 
bilateral and multilateral assistance to support cli-
mate and clean energy programs. 
(2) APPLICABLE
AMOUNT.—For purposes of 
this subsection, the term ‘‘applicable amount’’ 
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means, with respect to any fiscal year, an amount 
equal to 25 percent of the increase in revenues to 
the Treasury during such fiscal year by reason of 
the application of subchapter E of chapter 38 of the 
Internal Revenue Code of 1986 (as added by sub-
section (a)). 
Æ 
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