America's Energy Security Trust Fund Act of 2014

Summary

America's Energy Security Trust Fund Act of 2014 - Amends the Internal Revenue Code to impose an excise tax, beginning in calendar year 2016, on any taxable carbon substance sold by its manufacturer, producer, or importer. Defines "taxable carbon substance" as: (1) coal (including lignite and peat); (2) petroleum and any petroleum products; and (3) natural gas that is extracted, manufactured, or produced in the United States, or entered into the United States for consumption, use, or warehousing. Establishes in the Treasury the America's Energy Security Trust Fund to assist industries negatively affected by this Act, make transfers to the Highway Trust Fund to cover shortfalls, and provide payroll tax relief. Allows individual taxpayers a tax credit equal to carbon tax rebate amounts calculated by the Secretary of the Treasury. Directs the Secretary of the Treasury to study and report to Congress on the best methods to assess and collect taxes on non-carbon greenhouse gases. Expresses the sense of Congress that the United States should establish binding agreements with major greenhouse gas emitting nations to reduce global greenhouse gas emissions.

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Timeline

1. 31 July 2014

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committee on 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. 31 July 2014

   Introduced

   Introduced in House

   Source: IntroReferral

3. 31 July 2014

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

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Versions

• Introduced in House · 31 July 2014 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 31 July 2014

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 31 July 2014

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 31 July 2014

  Open at official source

Sponsors

• John Larson · D · Sponsor
• · hsfa00 · Standing
• · hswm00 · Standing

Related records

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