Polluters Pay Act: $1 Trillion Fund for Climate Resilience and Disaster Aid
This Act imposes a $1 trillion assessment on major fossil fuel companies based on their historical CO2 emissions since 2000. The money establishes a dedicated Climate Fund to finance national resilience, adaptation, and disaster response efforts against extreme weather events like floods and heatwaves. Crucially, 40% of the funds are reserved for vulnerable and environmental justice communities.
Key points
Major fossil fuel companies must pay a collective $1 trillion assessment based on their historical CO2 emissions (2000-2023) to fund climate response.
Funds will finance climate resilience projects, disaster recovery (including FEMA funding), and infrastructure improvements across the nation.
The law ensures that citizens and local governments retain the right to sue these companies for climate damages, independent of the new fund.
Status:
Introduced
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