Fossil Fuel Emissions Tax: Establishing the Polluters Pay Climate Fund
This law imposes an assessment (tax) on specific fossil fuel companies responsible for over one billion metric tons of CO2 emissions between 2000 and 2022. The collected funds, totaling $1 trillion, will establish the Polluters Pay Climate Fund, dedicated to financing climate resilience, adaptation, and disaster response efforts. Citizens may benefit from increased funding for disaster relief (FEMA) and investments in infrastructure, with specific focus on environmental justice communities.
Key points
Assessable fossil fuel companies must pay a total of $1 trillion based on their share of covered CO2 emissions from 2000 to 2022.
The new Climate Fund will finance climate adaptation, disaster recovery, and resilient infrastructure projects.
40% of the Fund's resources are earmarked for investments benefiting environmental justice communities.
The Act states it does not relieve any person from liability nor restrict rights to pursue claims related to climate change.
Expired
Citizen Poll