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HOUSE 2451117th CongressReferred to the Subcommittee on Energy.

America's Clean Future Fund Act

Last Action
4/13/2021

Actions

  • 2021-04-13Referred to the Subcommittee on Energy.
  • 2021-04-13Referred to the Subcommittee on Water Resources and Environment.
  • 2021-04-13Referred to the Subcommittee on Aviation.
  • 2021-04-13Referred to the Subcommittee on Highways and Transit.
  • 2021-04-12Referred to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Agriculture, Education and Labor, Transportation and Infrastructure, Financial Services, Science, Space, and Technology, and Natural Resources, 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.
  • 2021-04-12Referred to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Agriculture, Education and Labor, Transportation and Infrastructure, Financial Services, Science, Space, and Technology, and Natural Resources, 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.
  • 2021-04-12Referred to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Agriculture, Education and Labor, Transportation and Infrastructure, Financial Services, Science, Space, and Technology, and Natural Resources, 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.
  • 2021-04-12Referred to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Agriculture, Education and Labor, Transportation and Infrastructure, Financial Services, Science, Space, and Technology, and Natural Resources, 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.
  • 2021-04-12Referred to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Agriculture, Education and Labor, Transportation and Infrastructure, Financial Services, Science, Space, and Technology, and Natural Resources, 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.
  • 2021-04-12Referred to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Agriculture, Education and Labor, Transportation and Infrastructure, Financial Services, Science, Space, and Technology, and Natural Resources, 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.
  • 2021-04-12Referred to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Agriculture, Education and Labor, Transportation and Infrastructure, Financial Services, Science, Space, and Technology, and Natural Resources, 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.
  • 2021-04-12Referred to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Agriculture, Education and Labor, Transportation and Infrastructure, Financial Services, Science, Space, and Technology, and Natural Resources, 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.
  • 2021-04-12Referred to the Subcommittee on Energy.
  • 2021-04-12Introduced in House
  • 2021-04-12Introduced in House

CRS Summary

As of 2021-04-12 (00)

America's Clean Future Fund Act

This bill establishes requirements and incentives to reduce greenhouse gas emissions and assist industries, communities, and workers transition to a low-carbon economy, including by establishing (1) the Climate Change Finance Corporation (C2FC); (2) the America's Clean Future Fund; and (3) a carbon fee on the use, sale, or transfer of certain fuels by covered entities.

The bill provides appropriations to the C2FC, an independent agency, which must finance clean energy and climate change resiliency activities in order to meet the goal of eliminating greenhouse gas emissions by 2050.

The bill also provides appropriations for the America's Clean Future Fund. Amounts in the fund may be used for the C2FC, stimulus payments (i.e., tax rebates) to individuals whose gross incomes do not exceed specified thresholds, decarbonization transition payments to the agricultural sector, and grants to help certain communities and workers transition to a low-carbon economy.

Revenues generated from the carbon fee must also be deposited into the America's Clean Future Fund. Beginning in 2023, covered entities (e.g., entities that use, sell, or transfer fossil fuels) must pay a carbon fee of $25 per metric ton of carbon dioxide or carbon dioxide equivalent. The fee increases by $10 each year, multiplied by the cost-of-living adjustment. The fees further increase if the entities miss cumulative greenhouse gas emission targets established by the bill. Refund payments may be provided for carbon capture, sequestration, and utilization.

Cosponsors (9)

  • Nikema Williams (D-GA)
  • Jahana Hayes (D-CT)
  • Juan Vargas (D-CA)
  • Salud Carbajal (D-CA)
  • Albio Sires (D-NJ)
  • Ritchie Torres (D-NY)
  • Mike Quigley (D-IL)
  • Jared Huffman (D-CA)
  • Pete Aguilar (D-CA)

Subjects

  • Administrative law and regulatory procedures
  • Agricultural conservation and pollution
  • Agricultural practices and innovations
  • Air quality
  • Alternative and renewable resources
  • Appropriations
  • Atmospheric science and weather
  • Buy American requirements
  • Climate change and greenhouse gases
  • Coal
  • Community life and organization
  • Congressional oversight
  • Ecology
  • Economic performance and conditions
  • Employment and training programs
  • Energy efficiency and conservation
  • Environmental Protection Agency (EPA)
  • Environmental assessment, monitoring, research
  • Environmental regulatory procedures
Read on Congress.gov

Sourced from Congress.gov (public domain).

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