H.R. 4926: American Opportunity Carbon Fee Act of 2018

Author's Summary:  To amend the Internal Revenue Code of 1986 to provide for carbon dioxide and other greenhouse gas emission fees, reduce the rate of the corporate income tax, provide tax credits to workers, deliver additional benefits to retired and disabled Americans, and for other purposes.

IB Summary:  This bill would set a $49 per ton fee on carbon dioxide, increasing annually, charged at the point of a fossil fuel’s extraction or importation. The money raised — more than $2 trillion over 10 years — would go to a reduction in the corporate tax rate, tax credits to workers and recipients of federal assistance and state block grants.

Status:   Introduced in the House on 2/5/18.

Links: https://www.govtrack.us/congress/bills/115/hr4926; https://www.govtrack.us/congress/bills/115/s2368