Bill
Bill > HR4534
US HR4534
US HR4534FAIR Transition and Competition Act Fair, Affordable, Innovative, and Resilient Transition and Competition Act
summary
Introduced
07/19/2021
07/19/2021
In Committee
07/20/2021
07/20/2021
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL To amend the Internal Revenue Code of 1986 to establish a border carbon adjustment for the importation of cer- tain goods.
AI Summary
This bill, the Fair, Affordable, Innovative, and Resilient Transition and Competition Act (FAIR Transition and Competition Act), amends the Internal Revenue Code to establish a border carbon adjustment - a fee imposed on imported goods based on the greenhouse gas emissions associated with their production. The bill defines key terms such as "domestic environmental cost incurred," "baseline emissions," and "benchmark emissions," and outlines the process for determining and administering the border carbon adjustment. Additionally, the bill establishes a Resilient Communities Grant Program, which provides funding to states to support job training, climate resilience efforts, and assistance for communities and businesses impacted by the border carbon adjustment.
Committee Categories
Agriculture and Natural Resources, Budget and Finance
Sponsors (2)
Last Action
Referred to the Subcommittee on Environment and Climate Change. (on 07/20/2021)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/house-bill/4534/all-info |
| BillText | https://www.congress.gov/117/bills/hr4534/BILLS-117hr4534ih.pdf |
| Bill | https://www.congress.gov/117/bills/hr4534/BILLS-117hr4534ih.pdf.pdf |
Loading...