FAIR Transition and Competition Act

Summary

Fair, Affordable, Innovative, and Resilient Transition and Competition Act or the FAIR Transition and Competition Act This bill requires the Department of the Treasury, not later than July 1, 2023, and annually thereafter, to determine the domestic environmental cost incurred for industrial facilities producing steel, aluminum, cement, iron, or other products (sectors), and for the production of natural gas, petroleum, or coal (covered fuels) that are or may be used to emit greenhouse gases. By that same date, the Environmental Protection Agency must determine and publish the average greenhouse gas emissions of each sector to determine progress in reducing such emissions. The bill imposes a fee (border carbon adjustment) on importers of covered fuels and products. Treasury must provide to each state a resilient communities grant to provide job training and worker transition assistance, assist certain governmental entities and frontline communities, alleviate historical burdens imposed on communities of color and other vulnerable populations, and to assist small businesses disproportionately impacted by the border carbon adjustment fee.

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Timeline

1. 19 July 2021

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 19 July 2021

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 19 July 2021 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 19 July 2021

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 19 July 2021

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 19 July 2021

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  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

• Sen. Coons, Christopher A. [D-DE] · D · Sponsor
• · ssfi00 · Standing

Related records

• related to ← FAIR Transition and Competition Act
• related to ← National Defense Authorization Act for Fiscal Year 2022