American Opportunity Carbon Fee Act of 2017

Summary

American Opportunity Carbon Fee Act of 201 7 This bill amends the Internal Revenue Code to impose fees on: (1) fossil fuel products producing carbon dioxide emissions, including coal, petroleum products, and natural gas; (2) fluorinated greenhouse gases; (3) emissions of any greenhouse gas from any greenhouse gas emissions source; and (4) associated emissions (attributable to venting, flaring, and leakage across the supply chain). The bill directs the Department of the Treasury to: establish, implement, and report on a program to identify all major source categories of associated emissions and collect data on associated emissions from the coal, petroleum products, and natural gas supply chains; make specified adjustments to the new fees for importers and exporters of energy-intensive manufactured goods; make a specified payment each calendar year to certain Social Security beneficiaries, veterans, and disabled individuals; make cost mitigation grants to states to assist low-income and rural households and provide job training and worker transition assistance; and establish a website to make regular disclosures concerning revenue, tax savings, and benefits attributable to this bill. The bill also: (1) reduces the maximum income tax rate on corporations to 29% of taxable income over $75,000; and (2) allows a new carbon fee offset tax credit for the lesser of: 6.2% of earned income, or $550.

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Timeline

1. 26 July 2017

   Introduced

   Sponsor introductory remarks on measure. (CR E1057)

   Source: IntroReferral

2. 26 July 2017

   Introduced

   Introduced in House

   Source: IntroReferral

3. 26 July 2017

   Introduced

   Introduced in House

   Source: IntroReferral

4. 26 July 2017

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committees on Transportation and Infrastructure, Veterans' Affairs, Energy and Commerce, and Education and the Workforce, 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

5. 27 July 2017

   Referred

   Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.

   Source: Committee

6. 28 July 2017

   Referred

   Referred to the Subcommittee on Environment.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 26 July 2017 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 26 July 2017

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 26 July 2017

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 26 July 2017

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  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Blumenauer, Earl [D-OR-3] · D · Sponsor
• Rep. Cicilline, David N. [D-RI-1] · D · Sponsor
• · hsif00 · Standing
• · hspw00 · Standing
• · hsed00 · Standing
• · hsvr00 · Standing
• · hswm00 · Standing

Related records

• related to → American Opportunity Carbon Fee Act of 2017
• related to ← American Opportunity Carbon Fee Act of 2018
• related to ← American Opportunity Carbon Fee Act of 2018