Carbon Reduction and Tax Credit Act

Summary

Carbon Reduction and Tax Credit Act This bill imposes an excise tax on coal mines or oil or gas wells equal to $50 per ton of carbon contained in fuel produced at such mines or wells located in the United States, or entered into the United States for consumption, use, or warehousing. It also allows an individual taxpayer (other than a nonresident alien) a refundable income tax credit equal to $1,000, subject to a phaseout if the taxpayer's adjusted gross income exceeds a certain threshold amount. The dollar amounts in this bill are subject to a inflation adjustment in calendar years after 2023.

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Timeline

1. 28 July 2022

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 28 July 2022

   Introduced

   Introduced in House

   Source: IntroReferral

3. 28 July 2022

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 28 July 2022 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 28 July 2022

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 28 July 2022

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 28 July 2022

  Open at official source

Sponsors

• Sean Maloney · D · Sponsor
• · hswm00 · Standing

Related records

• related to ← Carbon Reduction and Tax Credit Act