summary
Introduced
09/12/2024
09/12/2024
In Committee
09/12/2024
09/12/2024
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A bill to impose an assessment related to fossil fuel emissions, to establish the Polluters Pay Climate Fund, and for other purposes.
AI Summary
This bill, the Polluters Pay Climate Fund Act of 2024, would impose an assessment on fossil fuel companies based on their historical carbon dioxide emissions. The funds collected would be used to establish the Polluters Pay Climate Fund, which would finance a comprehensive and equitable federal response to climate change impacts through investments in areas like disaster recovery, climate adaptation, and environmental justice. The bill also clarifies that it does not preempt or displace any existing legal rights or remedies related to climate change impacts or fossil fuel companies' conduct. Overall, the bill aims to hold major emitters accountable for the costs of addressing climate change while directing funding towards community resilience and protection.
Committee Categories
Budget and Finance
Sponsors (7)
Chris Van Hollen (D)*,
Ed Markey (D),
Jeff Merkley (D),
Bernie Sanders (I),
Elizabeth Warren (D),
Peter Welch (D),
Sheldon Whitehouse (D),
Last Action
Read twice and referred to the Committee on Finance. (on 09/12/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/senate-bill/5054/all-info |
| BillText | https://www.congress.gov/118/bills/s5054/BILLS-118s5054is.pdf |
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