What is the official ID of this bill?
The official print number for this legislation is S 25.
Fossil Fuel Companies Pay for Climate Adaptation and Disaster Fund
This act imposes an assessment on major fossil fuel companies responsible for significant historical CO2 emissions (2000-2023). The collected funds will establish the Polluters Pay Climate Fund, dedicated to financing climate resilience, disaster response, and adaptation efforts across the nation. Citizens benefit from enhanced protection against extreme weather events and targeted investments in vulnerable communities and critical infrastructure.
Key points
A tax is levied on the largest fossil fuel companies (those exceeding 1 billion metric tons of historical CO2 emissions) to raise $1 trillion.
The new Climate Fund will finance projects strengthening infrastructure (energy, water, transport) against climate change impacts.
40% of the funds are specifically allocated to benefit environmental justice communities, including low-income and minority groups.
Significant annual funding is directed to FEMA for disaster response and resilience programs, improving community preparedness and recovery.
Status:
Introduced
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