US Congress Senate Bill 1548 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on June 10 2015 - 25% progression, died in committee
Action: 2015-06-10 - Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S4031-4033)
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

American Opportunity Carbon Fee Act of 2015 Amends the Internal Revenue Code to impose fees on: (1) fossil fuel products producing carbon dioxide emissions, including coal, petroleum products, and natural gas; (2) fluorinated greenhouse gases; (3) emissions of any greenhouse gas from any greenhouse gas emissions source; and (4) methane emissions. Directs the Department of the Treasury to: (1) establish, implement, and report on a program to collect data on methane emissions by major non-natural sources, including emissions attributable to the extraction and distribution of coal, petroleum products, and natural gas; (2) pay a refund of fees imposed by this Act to exporters of energy-intensive manufactured goods; (3) make one $500 payment each calendar year to certain social security beneficiaries, veterans, and disabled individuals; (4) make cost mitigation grants to states to assist low-income and rural households and provide job training and worker transition assistance; and (5) establish a website to make regular disclosures concerning revenue, tax savings, and benefits attributable to this Act. Reduces the maximum income tax rate on corporations to 29% of taxable income over $75,000. Allows a new carbon fee offset tax credit for the lesser of: (1) 6.2% of earned income, or (2) $500.

American Opportunity Carbon Fee Act of 2015

Sen. Sheldon Whitehouse [D-RI]

Sen. Brian Schatz [D-HI]

Date	Chamber	Action
2015-06-10	Senate	Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S4031-4033)

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/senate-bill/1548/all-info
Text	https://www.congress.gov/114/bills/s1548/BILLS-114s1548is.pdf