S. 2940 · 113th Congress
American Opportunity Carbon Fee Act
- Stage
- In committee
- Sponsor
- Sheldon Whitehouse
- Introduced
- 2014-11-19
- Latest action
- 2014-11-19 · Introduced in Senate
Summary
American Opportunity Carbon Fee Act - Amends the Internal Revenue Code to impose a fee on: (1) fossil fuel products, including coal, petroleum products, and natural gas, for carbon dioxide emissions; and (2) emissions of any greenhouse gas other than carbon dioxide from any greenhouse gas emission source.
Directs the Secretary of the Treasury to 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.
Establishes the American Opportunity Trust Fund to provide economic assistance to low-income families and businesses using tax revenues generated by this Act.