To advance bipartisan, common sense solutions.
Sponsored By: Representative Suozzi
Introduced
Summary
This bill would create an economy-wide greenhouse gas tax and emissions accounting system that charges fuels and certain industrial and product emissions, pairs that tax with border adjustments, and funnels most revenues into a new RISE Trust Fund for infrastructure and climate programs.
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- Families: Creates state-administered grants for low-income households at or below 150% of the poverty line to offset costs, funded by a RISE grant set aside. States receive an allocation equal to 10% of RISE Fund amounts for these grants.
- Workers: Establishes a 10-year displaced energy worker assistance program to pay for retraining, relocation, early retirement, and benefits. The RISE Fund directs 3% of available amounts to this program.
- Industry and trade: Imposes a fossil-fuel combustion tax starting in 2027 at $35 per metric ton CO2e that rises each year by 5% plus inflation, with a possible $4/ton annual emissions-based increase. It also creates a border tax adjustment regime to tax carbon‑intensive imports and rebate exporters to limit carbon leakage.
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Bill Overview
Analyzed Economic Effects
19 provisions identified: 11 benefits, 3 costs, 5 mixed.
Carbon revenue for roads and low income aid
If enacted, 75% of the new carbon tax money would go into a RISE Trust Fund. From 2027 to 2036, most would go to the Highway Trust Fund, and 10% would go to States to help eligible low‑income households. To get help, a household would need income at or below 150% of the poverty line and meet certain program or Medicare/SSI rules. State grant sizes would track the State’s share of fuels and electricity linked to emissions in the prior year.
Boost cancer research funding at the National Cancer Institute
If enacted, the National Cancer Institute would get, for each year 2026–2030, new funding equal to 25% of its 2024 appropriation. The money would stay available until spent and would be in addition to other funding. It would support cancer research.
New nationwide carbon pollution tax
If enacted, the bill would tax greenhouse gas emissions from fuel, some factories, and certain products. The starting tax would be $35 per metric ton of CO2e in 2027 and would rise each year by a set formula tied to inflation and 5 percentage points. If emissions exceed set milestones, the rate would go up by an extra $4 per ton for the next year. EPA would set calculation rules and must avoid double‑counting, and the tax could not start until at least one year after those rules are published. The tax would apply to emissions after the later of December 31, 2025, or one year after the required rules are issued.
Pause most carbon rules, keep car limits
If enacted, most EPA rules that limit greenhouse gases for fuels already taxed would pause until January 1, 2039, unless earlier tests in 2031 or 2035 end the pause. The pause would not block rules for other health harms, monitoring, or certain facility types. At the same time, EPA would be allowed to set greenhouse gas limits for classes of new motor vehicles and engines and grant related waivers. This keeps vehicle standards moving even while most other carbon rules are paused.
Carbon border fees on trade
If enacted, imports of covered goods would pay a fee like the U.S. carbon tax, and U.S. exports would get rebates. The government would set product lists and methods within one year, with exemptions for some low‑income or very low‑emission countries. Sectors would be chosen using greenhouse gas intensity (at least 5%) and trade intensity (at least 15%) tests, and industry can petition for updates. Each year by January 31, the government would publish the list of covered sectors and the next year’s border rates.
Help for workers losing energy jobs
If enacted, the Labor Department would run a 10‑year program to help energy workers who lose jobs because of this bill. Help could include retraining, moving costs, early retirement, and health benefits. Some nuclear workers are included. Limited transfers to the United Mine Workers 1974 Pension Plan would be allowed only if the plan is below 100% funded.
End federal gas and jet fuel taxes
If enacted, federal excise taxes on motor vehicle and aviation fuels would end for sales after December 31, 2025. This would lower the tax part of pump prices for drivers and lower fuel taxes for air carriers.
Open primaries and voter privacy rules
If enacted, States would have to let unaffiliated registered voters choose one party’s primary for Federal offices. States could not share unaffiliated voters’ names or contact details from primary lists with parties or people for political uses. States also could not mark a voter as affiliated just because they voted in a party’s primary. States that certify compliance could get transition payments equal to 2% of their HAVA section 251 payments for that year and the next four years, starting as early as fiscal year 2026 if Congress funds it.
Grants for flood protection projects
If enacted, States, local governments, and Tribes could get grants for projects to reduce frequent or chronic flooding. The Federal share could be up to 90% of costs. Projects must avoid long‑term harm to key habitats, and grantees must report each year.
Ban stock trading by House members
If enacted, Members of the House could not own or trade most securities, commodities, or similar derivatives. They could still hold broad mutual funds, U.S. Treasuries, state or local bonds, and Thrift Savings Plan investments. Members would have to pledge compliance and provide records if asked by the Ethics Committee.
Ban noncitizen voting in federal elections
If enacted, States would be barred from allowing noncitizens to vote in any Federal election. The bill also states that no noncitizen should vote in taxpayer‑funded elections for public office.
Prevailing wages on funded projects
If enacted, workers on projects funded by this title would have to be paid at least the local prevailing wage. The Labor Department would set the rates. Workers could see higher pay, while contractors could face higher labor costs.
Create bipartisan panel on the debt
If enacted, a 20‑member commission would study long‑term deficits and debt. It would report to Congress within 18 months. The President would send a fast‑track joint resolution within 60 days after the report. The commission could subpoena witnesses and documents under set voting rules.
Create climate commission to set goals
If enacted, a 10‑member National Climate Commission would be created. It would set emissions‑reduction goals for 2031 and every five years through 2056, and report starting in 2032. It could accept private donations with public disclosure. It would be authorized $5 million each year from 2027 to 2036.
More DIC access for ALS survivors
If enacted, a veteran who dies from ALS would count as qualifying for Dependency and Indemnity Compensation no matter how long they had the disease. For compensation, a surviving spouse would need to have been married to the veteran for at least eight continuous years. This would apply to deaths on or after October 1, 2025.
Make Election Day a federal holiday
If enacted, Election Day would be added to the list of federal holidays. Federal agencies would observe it like other federal holidays.
Include veteran owned firms in disadvantaged programs
If enacted, veteran‑owned small businesses would be included in certain disadvantaged business enterprise programs. This would let qualifying veteran‑owned firms access those program opportunities where they apply.
Coordinator for communities with PFAS cleanup
If enacted, the Defense Department would name a coordinator within one year to help communities affected by PFAS. The coordinator would improve outreach, education, and communication where Defense cleanup is ongoing or not finished.
Stronger anti trafficking finance measures
If enacted, reviews of foreign governments would also check if they work to stop money from severe trafficking. Bank exam groups would have 180 days to improve anti‑money‑laundering training for trafficking. A federal task force would report within 270 days on best practices, training, data sharing, and law updates for new tech. The bill would not give the task force rulemaking power and would not encourage banks to deny services to trafficking victims.
Sponsors & CoSponsors
Sponsor
Suozzi
NY • D
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
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