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United States · Bill · HR

H.R. 2307 (117th)

Energy Innovation and Carbon Dividend Act of 2021

referredUnited States· United States Congress· EN

Introduced

1 April 2021

Last action

2 April 2021 · Referred

Status

Referred to the Subcommittee on Energy.

Sponsors

Rep. Deutch, Theodore E. [D-FL-22], Rep. Malinowski, Tom [D-NJ-7], Rep. Eshoo, Anna G. [D-CA-18], Rep. Schakowsky, Janice D. [D-IL-9], Rep. Crist, Charlie [D-FL-13], Rep. Kilmer, Derek [D-WA-6], Rep. Peters, Scott H. [D-CA-50], Rep. Chu, Judy [D-CA-28], Rep. Connolly, Gerald E. [D-VA-11], Rep. Craig, Angie [D-MN-2], Rep. Morelle, Joseph D. [D-NY-25], Rep. Carbajal, Salud O. [D-CA-24], Rep. Raskin, Jamie [D-MD-8], Rep. Sires, Albio [D-NJ-13], Rep. Sherman, Brad [D-CA-32], Rep. Crow, Jason [D-CO-6], Rep. Correa, J. Luis [D-CA-46], Rep. Scanlon, Mary Gay [D-PA-5], Rep. Johnson, Henry C. "Hank" [D-GA-4], Rep. Pingree, Chellie [D-ME-1], Rep. Moulton, Seth [D-MA-6], Rep. Roybal-Allard, Lucille [D-CA-40], Rep. Garamendi, John [D-CA-8], Rep. Evans, Dwight [D-PA-3], Rep. Phillips, Dean [D-MN-3], Rep. Meng, Grace [D-NY-6], Rep. Cárdenas, Tony [D-CA-29], Rep. Lee, Barbara [D-CA-12], Rep. Cartwright, Matt [D-PA-17], Rep. Napolitano, Grace F. [D-CA-32], Rep. Levin, Andy [D-MI-9], Rep. Trone, David J. [D-MD-6], Rep. Wild, Susan [D-PA-7], Rep. Cohen, Steve [D-TN-9], Rep. Sánchez, Linda T. [D-CA-38], Rep. Suozzi, Thomas R. [D-NY-3], Rep. Jacobs, Sara [D-CA-51], Rep. Beatty, Joyce [D-OH-3], Del. Norton, Eleanor Holmes [D-DC-At Large], Rep. Kelly, Robin L. [D-IL-2], Rep. Levin, Mike [D-CA-49], Rep. Ross, Deborah K. [D-NC-2], Rep. Watson Coleman, Bonnie [D-NJ-12], Rep. Kuster, Ann M. [D-NH-2], Rep. Perlmutter, Ed [D-CO-7], Rep. Cleaver, Emanuel [D-MO-5], Rep. Vargas, Juan [D-CA-52], Rep. Cooper, Jim [D-TN-5]

Subjects

Defence, Energy, Taxation

Source updated

15 January 2025

Defence · Energy · Taxation

Official sourceDownload fileView documentsShare

Summary

Energy Innovation and Carbon Dividend Act of 2021 This bill imposes a fee on the carbon content of fuels, including crude oil, natural gas, coal, or any other product derived from those fuels that will be used so as to emit greenhouse gases into the atmosphere. The fee is imposed on the producers or importers of the fuels and is equal to the greenhouse gas content of the fuel multiplied by the carbon fee rate. The rate begins at $15 per metric ton of CO2-e in 2021, increases by $10 each year, and is subject to further adjustments based on the progress in meeting specified emissions reduction targets. The bill includes exemptions for fuels used for agricultural or nonemitting purposes, exemptions for fuels used by the Armed Forces, rebates for facilities that capture and sequester carbon dioxide, and border adjustment provisions that require certain fees or refunds for carbon-intensive products that are exported or imported. The fees must be deposited into a Carbon Dividend Trust Fund and used for administrative expenses and dividend payments to U.S. citizens or lawful residents. The fees must be decommissioned when emissions levels and monthly dividend payments fall below specified levels.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 1 April 2021

    Introduced

    Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, and Foreign Affairs, 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.

    Source: IntroReferral

  2. 1 April 2021

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 1 April 2021

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 2 April 2021

    Referred

    Referred to the Subcommittee on Energy.

    Source: Committee

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 1 April 2021

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  • Introduced in House (PDF)

    Introduced in House · EN · 1 April 2021

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  • Introduced in House

    summary · EN · 1 April 2021

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Sponsors

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Related records

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Sources

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