SLIDE 19 E ne rg y I nno va tio n a nd Ca rb o n Divide nd Ac t
Bipa rtisa n fe de ra l pro po sa l “ a me nds the Inte rna l Re ve nue Co de to impose a fe e on the c a r
bon c onte nt of fue ls,
inc luding c rude o il, na tura l g a s, c o a l, o r a ny o the r pro duc t de rive d fro m tho se fue ls tha t will b e use d so a s to e mit g re e nho use g a se s into the a tmo sphe re .”
“fe e is impose d on the pr
s or impor te r s o f the fue ls a nd is e q ua l to the g r e e nhouse g a s c onte nt of the fue l multiplie d by the c a r bon fe e r a te . T
he ra te b e g ins a t $15 in 2019, inc re a se s b y $10 e a c h ye a r, a nd is sub je c t to furthe r a djustme nts b a se d o n the pro g re ss in me e ting spe c ifie d e missio ns re duc tio n ta rg e ts. T he b ill a lso impo se s a spe c ifie d fe e o n fluo rina te d g re e nho use g a se s.”
“b ill inc lude s:
e xe mptions fo r fue ls use d fo r a g ric ultura l o r no ne mitting purpo se s, r
e ba te s fo r fa c ilitie s tha t c a pture a nd se q ue ste r c a rb o n d io xid e , a nd
bor
de r a djustme nt pr
- visions tha t re q uire c e rta in fe e s o r re fund s fo r c a rb o n-inte nsive
pro d uc ts tha t a re e xpo rte d o r impo rte d .”
T
he fe e s must b e de po site d into a Ca rb o n Divide nd T rust F und a nd use d fo r
a dministr a tive e xpe nse s a nd divide nd pa yme nts to U.S. c itize ns o r la wful re side nts.
T
he b ill a lso a me nds the Cle a n Air Ac t to suspe nd c e r
ta in r e g ula tions tha t limit g r e e nhouse g a s e missions.