Bill > S25

This bill establishes the Polluters Pay Climate Fund Act of 2025, which imposes a tax on major fossil fuel companies for their historical carbon dioxide emissions from January 2000 to December 2023. The bill creates a $1 trillion fund to be collected from fossil fuel companies that have released more than 1 billion metric tons of carbon dioxide, with the tax amount proportional to each company's emissions. The collected funds will be used to support climate change resilience, adaptation, and disaster response efforts, with a particular focus on environmental justice communities. Specifically, the bill mandates at least $15 billion for FEMA disaster response programs and $6 billion for Clean Air Act grants, with 40% of funds dedicated to supporting communities of color, low-income communities, and Tribal and Indigenous communities most vulnerable to climate change impacts. The bill emphasizes that the assessment is not a determination of fault and does not prevent future legal actions against fossil fuel companies. Companies can choose to pay the tax in 9 annual installments, with the first payment due on September 30, 2026. The legislation aims to address the significant economic and environmental costs of climate change, recognizing that fossil fuel companies have known about their role in climate change since before 2000 and should contribute to mitigating its effects.

Budget and Finance

https://www.congress.gov/bill/119th-congress/senate-bill/25/all-info