Consumers REBATE Act

Bill: 116-hr-8175
Sponsor: Rep. McNerney, Jerry [D-CA-9]
Introduced: 2020-09-04 in the House
Policy area: Taxation
Subjects: Air quality
Climate change and greenhouse gases
Coal
Energy efficiency and conservation
Environmental assessment, monitoring, research
Government studies and investigations
Government trust funds
Income tax rates
Mining
Oil and gas
Sales and excise taxes

Summary:
action_date: 2020-09-04
text: 

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 2021, the tax rate is $25 per ton of carbon dioxide content of the life-cycle emissions from the taxable carbon substance. After 2021, 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. 


Legislative actions:
action_date: 2020-09-08
text: Referred to the Subcommittee on Highways and Transit.
action_date: 2020-09-04
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Education and Labor, Science, Space, and Technology, Energy and Commerce, 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.
action_date: 2020-09-04
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Education and Labor, Science, Space, and Technology, Energy and Commerce, 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.
action_date: 2020-09-04
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Education and Labor, Science, Space, and Technology, Energy and Commerce, 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.
action_date: 2020-09-04
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Education and Labor, Science, Space, and Technology, Energy and Commerce, 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.
action_date: 2020-09-04
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Education and Labor, Science, Space, and Technology, Energy and Commerce, 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.
action_date: 2020-09-04
text: Introduced in House
action_date: 2020-09-04
text: Introduced in House