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Bill > S2712


US S2712

US S2712
America's Clean Future Fund Act


summary

Introduced
09/04/2025
In Committee
09/04/2025
Crossed Over
Passed
Dead

Introduced Session

119th Congress

Bill Summary

A bill to amend the Internal Revenue Code of 1986 to establish a carbon fee to reduce greenhouse gas emissions, and for other purposes.

AI Summary

This bill establishes the America's Clean Future Fund Act, a comprehensive climate change mitigation and economic transition strategy. The bill creates a Climate Change Finance Corporation (C2FC) to finance clean energy and climate resilience activities, with a mission to reduce fossil fuel dependency and greenhouse gas emissions. A key provision is a carbon fee imposed on covered entities like oil refineries, coal producers, and natural gas producers, starting at $75 per metric ton of greenhouse gas emissions in 2027 and increasing annually. The bill also establishes an America's Clean Future Fund to collect these fees and distribute them across several key programs: carbon fee rebate payments to individuals (75% of funds initially), agricultural decarbonization transition payments (7% initially), funding for the C2FC (15% initially), and transition assistance for impacted communities (10% initially). The bill prioritizes supporting environmental justice communities, providing workforce transition support, and investing in clean energy technologies. Additionally, it mandates a study by the National Academy of Sciences to evaluate the effectiveness of the carbon pricing mechanism in achieving greenhouse gas reduction goals of 45% by 2030 and 100% by 2050. The bill aims to create a comprehensive approach to addressing climate change through financial incentives, technological investment, and community support.

Committee Categories

Budget and Finance

Sponsors (1)

Last Action

Read twice and referred to the Committee on Finance. (text: CR S6321-6329) (on 09/04/2025)

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