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United States · Bill · S

S. 4355 (117th)

Clean Competition Act

referredUnited States· United States Congress· EN

Introduced

7 June 2022

Last action

7 June 2022 · Introduced

Status

Read twice and referred to the Committee on Finance.

Sponsors

Sen. Whitehouse, Sheldon [D-RI], Sen. Coons, Christopher A. [D-DE], Sen. Schatz, Brian [D-HI], Sen. Heinrich, Martin [D-NM]

Subjects

Taxation

Source updated

3 January 2025

Taxation

Official sourceDownload fileView documentsShare

Summary

Clean Competition Act This bill creates a carbon border adjustment mechanism to lower greenhouse gas emissions in high-polluting sectors. This mechanism imposes charges on imports from carbon-intensive (e.g., fossil fuels, refined petroleum products, petrochemicals) manufacturers, encourages decarbonization efforts, and funds future research, development, and deployment efforts to achieve a net-zero carbon future. The bill requires annual calculations of carbon intensity, imposes a carbon intensity charge on imports into the United States beginning after 2023, and allows for rebates for overpayments of charges. The bill also establishes a grant program in FY2025 and subsequent fiscal years for investments in new technology to reduce carbon intensity in existing facilities and ensure best-in-class carbon intensity for proposed facilities.

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

Timeline

  1. 7 June 2022

    Introduced

    Read twice and referred to the Committee on Finance.

    Source: IntroReferral

  2. 7 June 2022

    Introduced

    Introduced in Senate

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in Senate (text)

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  • Introduced in Senate (text)

    Introduced in Senate · EN · 7 June 2022

    ViewDownloadOpen at official source

  • Introduced in Senate (PDF)

    Introduced in Senate · EN · 7 June 2022

    ViewDownloadOpen at official source

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  • Introduced in Senate

    summary · EN · 7 June 2022

    Open at official source

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Sponsors

Related records

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Sources

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