Bill > HR6622

This bill, the Clean Competition Act, would amend the Internal Revenue Code to create a carbon border adjustment based on the carbon intensity of covered primary goods, both imported and domestically produced. The bill establishes a system to calculate the carbon intensity of eligible facilities and covered national industries, and imposes a charge on the import of covered primary goods and domestic production of such goods that exceeds a specified percentage of the relevant carbon intensity. The bill also creates a grant program to support investments in new technology to reduce the carbon intensity of eligible facilities. Additionally, the bill dedicates a portion of the revenue generated from the carbon intensity charges to the Department of State for bilateral and multilateral climate and clean energy programs.