HR3338119th CongressWALLET

MARKET CHOICE Act

Sponsored By: Representative Fitzpatrick

In Committee

Summary

Creates a U.S. carbon pricing system and directs most revenue to a new climate and infrastructure trust fund. The bill would tax fossil fuel combustion, industrial process emissions, and certain product uses and create the RISE Trust Fund to allocate revenues to highways, flood resilience, energy R&D, and targeted household and worker programs.

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  • Low-income households: State grants from the RISE Trust Fund would target households at or below 150% of the poverty line and program participants such as SNAP recipients. Ten percent of RISE proceeds are set aside for these state grants.
  • Displaced energy workers: A ten-year program would fund retraining, relocation, early retirement, health benefits, community block grants, and limited pension transfers for affected energy and nuclear workers.
  • Businesses and trade: Producers and importers of fuels and certain manufacturers would face a CO2e tax starting at $40 per metric ton in 2027 and rising each year by 5% plus inflation. Imports could face border tax adjustments to match domestic carbon costs.

Bill Overview

Analyzed Economic Effects

12 provisions identified: 8 benefits, 1 costs, 3 mixed.

Temporary limits on EPA carbon rules

This bill would pause some EPA greenhouse gas rules where emissions are already taxed. The pause would last until January 1, 2039, unless emissions exceed set levels, which could end it earlier in 2031 or 2035. EPA could still regulate for health harms other than greenhouse gas effects, require monitoring and reporting, and regulate certain facilities. It would also bar EPA from requiring fuel makers to cut combustion emissions, except where another subsection requires it.

RISE fund for roads and climate projects

This bill would place 75% of carbon tax money into a new RISE Trust Fund. From 2027 to 2036, fixed shares would go to programs like the Highway Trust Fund (70%), State grants, coastal flooding mitigation (4%), weatherization (1.5%), and more, as Congress appropriates. It would define which carbon removal projects can get funding. It would also require Treasury to transfer set reforestation funds within 9 months.

Credit for state carbon payments

Businesses that pay a State greenhouse gas charge would get a federal credit under this bill. The credit would equal 100% of the State payment in 2027, then 80% in 2028, 60% in 2029, 40% in 2030, and 20% in 2031. No credit would be allowed after 2031.

New carbon tax on fuels and industry

This bill would tax greenhouse gas emissions from fossil fuels, certain products, and large industrial sources. The rate would be $40 per metric ton in 2027 and would rise each year by 5 percentage points plus inflation. If emissions beat set targets, the next year’s rate would also rise by $4 per ton. EPA would set how emissions are calculated and avoid double counting. Facilities emitting 25,000+ metric tons a year would be taxed, and failing to pay would bring a penalty of three times the amount owed.

Carbon border fees and export rebates

This bill would charge a border fee on covered imports and give rebates on covered exports to match U.S. carbon costs. The President would notify other countries, and Treasury would set rules within one year. Sectors with high greenhouse gas and trade intensity would be presumed covered. Some least‑developed countries and certified low‑emission countries could be exempt. The President could pause fees for a sector if it is not in the national, economic, or environmental interest.

Changes to coal project tax credit

This bill would change the section 48A credit rules. It would lower the size threshold from 400 MW to 200 MW and require 60% CO2 sequestration for certain older units. If a retrofit had a BACT analysis after August 8, 2005, it would have to meet that removal level. Remaining credits could be reallocated every six months until used.

State help for low‑income energy bills

This bill would give annual grants to States from 2027 through 2036 to help eligible low‑income households. To qualify, income would need to be at or below 150% of poverty and the household must be in SNAP or similar programs, meet the Medicare Part D low‑income rules, or receive SSI. States would get shares based on emissions tied to energy sold in the State and must tell Treasury how they will distribute the money each year.

Help for displaced energy workers

For 10 years, this bill would fund help for energy workers who lose jobs because of the Act and some nuclear plant workers. Help could include retraining, moving costs, early retirement, and health benefits. It would support local redevelopment and allow transfers to the UMWA pension plan, with limits based on its funded level.

Prevailing wages on funded projects

This bill would require contractors on projects funded or assisted by this Act to pay at least local prevailing wages. The Labor Department would set rates and enforce them.

Repeal federal gas and jet fuel taxes

This bill would repeal federal motor vehicle and aviation fuel excise taxes for transactions after December 31, 2025. That could lower the tax portion of fuel prices. Actual price changes would depend on markets.

Bipartisan National Climate Commission

This bill would create a 10‑member bipartisan climate commission with two co‑chairs. Members would be appointed within 180 days, serve six‑year terms, set emissions goals for 2031 and every five years through 2056, and start reports in 2032. The Commerce Secretary could accept disclosed private donations. It would authorize $5 million each year from 2027 through 2039.

EPA can set GHG rules for vehicles

This bill would let EPA set greenhouse gas limits for new cars and engines and grant waivers under current law. It would also let EPA set limits for aircraft engines, but not stricter than global ICAO standards. EPA could set limits for nonroad engines and vehicles, like some construction and farm equipment.

Sponsors & CoSponsors

Sponsor

Fitzpatrick

PA • R

Cosponsors

  • Carbajal

    CA • D

    Sponsored 5/13/2025

Roll Call Votes

No roll call votes available for this bill.

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