S. 1548 · 114th Congress
American Opportunity Carbon Fee Act of 2015
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
WhitehouseSponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Internal Revenue Code to impose fees on: (1) fossil fuel products producing carbon dioxide emissions, including coal, petroleum products, and natural gas; (2) fluorinated greenhouse gases; (3) emissions of any greenhouse gas from any greenhouse gas emissions source; and (4) methane emissions.
What it does: CRS summary · Introduced in Senate · Jun 10, 2015
American Opportunity Carbon Fee Act of 2015
Amends the Internal Revenue Code to impose fees on: (1) fossil fuel products producing carbon dioxide emissions, including coal, petroleum products, and natural gas; (2) fluorinated greenhouse gases; (3) emissions of any greenhouse gas from any greenhouse gas emissions source; and (4) methane emissions.
Directs the Department of the Treasury to: (1) establish, implement, and report on a program to collect data on methane emissions by major non-natural sources, including emissions attributable to the extraction and distribution of coal, petroleum products, and natural gas; (2) pay a refund of fees imposed by this Act to exporters of energy-intensive manufactured goods; (3) make one $500 payment each calendar year to certain social security beneficiaries, veterans, and disabled individuals; (4) make cost mitigation grants to states to assist low-income and rural households and provide job training and worker transition assistance; and (5) establish a website to make regular disclosures concerning revenue, tax savings, and benefits attributable to this Act.
Reduces the maximum income tax rate on corporations to 29% of taxable income over $75,000.
Allows a new carbon fee offset tax credit for the lesser of: (1) 6.2% of earned income, or (2) $500.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: American Opportunity Carbon Fee Act of 2015
Latest action (Jun 10, 2015): Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S4031-4033)
Policy area: Taxation · Origin: Senate · Introduced: Jun 10, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.