Bill > HR3039

This bill, the MARKET CHOICE Act, proposes to amend the Internal Revenue Code to eliminate certain fuel excise taxes and impose a tax on greenhouse gas emissions to provide revenue for maintaining and building American infrastructure. The key provisions of the bill include: - Establishing a tax on fossil fuels and industrial process and product emissions, with the tax rate increasing over time. The bill provides exemptions and refunds for certain uses that reduce or eliminate emissions. - Creating a Rebuilding Infrastructure and Solutions for the Environment (RISE) Trust Fund to receive the revenue from the greenhouse gas emissions tax, with 70% going to the Highway Trust Fund, 10% for state grants, and the remainder distributed to various energy, climate, and worker assistance programs. - Repealing federal motor vehicle and aviation fuel taxes and making amendments to certain tax credits for carbon capture and storage. - Prohibiting the Environmental Protection Agency from issuing certain regulations limiting greenhouse gas emissions that are subject to the new tax, with some exceptions. - Establishing a National Climate Commission to set emissions reduction goals and assess federal policies for achieving them. - Providing assistance to displaced workers in the energy sector impacted by the changes.