S. 4355 · 117th Congress
Clean Competition Act
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
WhitehouseSponsor3 cosponsors · 3 D
3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill creates a carbon border adjustment mechanism to lower greenhouse gas emissions in high-polluting sectors.
What it does: CRS summary · Introduced in Senate · Jun 7, 2022
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Clean Competition Act
Latest action (Jun 7, 2022): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Jun 7, 2022
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.