Carbon Fee and Dividend for American People
This act introduces a fee on carbon and other greenhouse gas emissions from fossil fuels, collected from companies that extract, import, or use them. The collected funds will go into a special trust fund, from which US citizens will receive regular payments, called carbon dividends. The goal is to reduce pollution and encourage clean energy, while compensating citizens for potential cost increases.
Key points
Imposes a carbon fee on fossil fuels, starting at $15 per metric ton, increasing annually by $10 plus inflation.
Establishes a Carbon Dividend Trust Fund to distribute collected fees directly to eligible US citizens (adults receive full share, children half).
Introduces border fees on carbon-intensive imports and refunds for exports to prevent industries from moving abroad.
Provides payments to facilities that capture and safely sequester or utilize qualified carbon dioxide emissions.
Sets greenhouse gas emission reduction targets, with potential fee increases if targets are not met.
Exempts fuels used in agriculture and by the U.S. Armed Forces from the carbon fee.
Carbon dividends will not be counted as income for determining eligibility for federal benefits.
Status:
Expired
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