A bill to amend the Internal Revenue Code of 1986 to provide for carbon dioxide and other greenhouse gas and criteria air pollutant emission fees, provide rebates to low- and middle-income Americans, invest in fossil fuel communities and workers, invest in environmental justice communities, and for other purposes.
Save Our Future Act
This bill imposes a fee on certain fossil fuels, including coal, petroleum products, and natural gas. It also imposes fees on fluorinated greenhouse gases imported into the United States and on facilities that emit greenhouse gases from processes other than fossil fuel combustion.
The bill provides rebates to middle- and low-income taxpayers equal to $800 ($1,600 for joint returns), plus $300 times the number of taxpayer dependents.
The bill directs the Department of the Treasury to provide cost mitigation grants to states and Indian tribes to assist with the transition to a low-carbon economy, assist rural households in reducing energy expenses, and for assistance to displaced coal industry workers.
The bill creates an Office of Energy Veterans Assistance. It also provides funds through FY2032 for community assistance programs, including the Appalachian Regional Commission Revitalization Initiative and the Coal Communities Assistance Initiative.
The bill provides funds for each fiscal year after FY2022 for assistance to environmental justice communities (i.e., communities most impacted by environmental harms and risks).
Introduced in Senate
Read twice and referred to the Committee on Finance.
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