America's Clean Future Fund Act

This bill would create a federal carbon fee starting in 2027 on coal, oil, and natural gas, charged to producers and importers based on the greenhouse gases their fuels release. The fee would start at $75 per metric ton of carbon dioxide equivalent and rise each year, with larger increases if national emissions targets are missed; a fee on other industrial emissions would begin in 2029. Importers of fuels and carbon-intensive products like steel and cement would pay a matching border fee, and exporters would get refunds. Most fee revenue would go into a trust fund that pays quarterly rebates to adults living in the United States, with payments reduced for higher-income households. The bill would also create an independent Climate Change Finance Corporation to make grants and loan guarantees for clean energy and climate resilience projects, and would fund payments to farmers and help for affected communities.

Full text and official record on Congress.gov

Sponsors

• Richard J. Durbin Democrat sponsor
• 0 cosponsors