H.R. 2380 · 111th Congress
Raise Wages, Cut Carbon Act of 2009
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
InglisSponsor2 cosponsors · 1 D, 1 R
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Raise Wages, Cut Carbon Act of 2009 - Amends the Internal Revenue Code to impose an environmental tax on: (1) any taxable carbon substance (i.e., coal, including lignite and peat, petroleum and any petroleum product, and natural gas that is extracted, manufactured, or produced in, or imported into, the United States); and (2) imported taxable products that…
What it does: CRS summary · Introduced in House · May 13, 2009
Raise Wages, Cut Carbon Act of 2009 - Amends the Internal Revenue Code to impose an environmental tax on: (1) any taxable carbon substance (i.e., coal, including lignite and peat, petroleum and any petroleum product, and natural gas that is extracted, manufactured, or produced in, or imported into, the United States); and (2) imported taxable products that account for a specified level of carbon substances used in the United States. Sets the amount of the tax at $15.00 per ton in 2010, and increases and adjusts for inflation such amount each year until the tax is $100 in 2040 and in subsequent years.
Provides for a reduction in social security taxes by an amount determined by the Secretary of the Treasury to reflect the amount of revenues generated by the taxes imposed by this Act. Appropriates net revenues from such taxes to the social security trust funds.
Requires a two-thirds vote of the House of Representatives or the Senate to increase the amount of the tax on taxable carbon substance or imported products beyond the amount required to compensate for the aggregate reduction in revenues resulting from the lower rates of social security taxes provided by this Act (i.e., revenue neutrality).
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Raise Wages, Cut Carbon Act of 2009
Latest action (May 13, 2009): Referred to House Rules
Policy area: Taxation · Origin: House · Introduced: May 13, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.