Sec. 101. Carbon pollution fee
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Title I of the Clean Air Act ( 42 U.S.C. 7401 et seq. ) is amended by adding at the end the following: In this part: The term carbon polluting substance means coal (including lignite and peat), petroleum and any petroleum product, or natural gas that— when combusted or otherwise used, will release greenhouse gas emissions; and is— extracted, manufactured, or produced in the United States; or imported into the United States for consumption, use, or warehousing. The term carbon pollution-intensive good means a good that is (as identified by the Administrator, by rule) iron, steel, a steel mill product (including pipe and tube), aluminum, cement, glass (including flat, container, and specialty glass and fiberglass), pulp, paper, a chemical, or an industrial ceramic.
The term rate of inflation means the cost-of-living adjustment determined under section 1(f)(3) of the Internal Revenue Code of 1986 for the calendar year in which the taxable year begins, determined by substituting calendar year 2017 for calendar year 1992 in subparagraph
(B)of that section. The term substantially equivalent measure means a fee or other regulatory requirement that imposes a cost on manufacturers of carbon pollution-intensive goods located outside the United States approximately equal to the cost imposed by the fee under this part on manufacturers of comparable carbon pollution-intensive goods located in the United States. It is the policy of the United States that greenhouse gas emissions from all sectors of the United States economy should not exceed— 5,800,000,000 tons in 2020; 3,700,000,000 tons in 2030; 2,500,000,000 tons in 2040; and 1,260,000,000 tons in 2050. The Secretary of the Treasury, in consultation with the Administrator, shall impose on any manufacturer, producer, or importer of a carbon polluting substance a fee in accordance with this section. The amount of the carbon pollution fee imposed under subsection
(a)on any carbon polluting substance shall be assessed per ton of carbon dioxide content (including carbon dioxide equivalent content of methane) of the carbon polluting substance, as determined by the Secretary of the Treasury, in consultation with the Administrator and the Secretary of Energy. In the case of a fraction of a ton of a carbon polluting substance, the fee imposed under subsection
(a)shall be the same fraction of the amount of the fee imposed on a whole ton of the carbon polluting substance. For purposes of paragraph (1), the amount of the fee for the following calendar years shall be— Fee year Fee rate (dollars per metric ton) 2017 $15 2018 $17 2019 $19 2020 $21 2021 $24 2022 $27 2023 $30 2024 $33 2025 $36 2026 $39 2027 $41 2028 $44 2029 $47 2030 $50 2031 $54 2032 $58 2033 $63 2034 $68 2035 $73. For purposes of paragraph (1), for each calendar year occurring after calendar year 2035, the amount of the fee shall be an amount equal to the sum of— the amount in effect for the preceding calendar year; and the product (rounded to the nearest dollar) obtained by multiplying— the amount described in subparagraph (A); and 5 percent, plus the rate of inflation. No fee shall be imposed under subsection
(a)with respect to a carbon polluting substance if the person that would be liable for the fee establishes that a prior fee imposed under that subsection has been imposed with respect to that carbon polluting substance. No fee shall be imposed against a person under subsection
(a)if during the calendar year, in accordance with such regulations as the Secretary of the Treasury, in consultation with the Administrator, may prescribe— for a calendar year before calendar year 2036, the person uses a carbon polluting substance as a feedstock so that the carbon associated with that carbon polluting substance will not be emitted; or a fee under subsection
(a)was paid with respect to another carbon polluting substance that is used by the person in the manufacture or production of the applicable carbon polluting substance. There is established a council, to be known as the Interagency Climate Council (referred to in this section as the Council ). The Council shall be composed of— the Administrator, who shall be the Chairperson; the Secretary of the Treasury; the Secretary of Energy; the Secretary of Transportation; the Secretary of Commerce; the Secretary of the Interior; the Secretary of Agriculture; the Director of the Office of Science and Technology Policy; the Director of the Office of Management and Budget; and the Chairperson of the Council of Environmental Quality. Beginning in 2020 and every 3 years thereafter, the Council shall assess the efficacy of Federal, State, and local actions in effect as of the date of the assessment, including Federal statutory or regulatory policies and policies established by the Climate Protection and Justice Act of 2015 , in achieving the greenhouse gas emissions reduction targets described in section 195. The Council shall identify and evaluate potential greenhouse gas emissions reductions opportunities in all sectors of the economy, including opportunities for the promulgation under this Act of new or updated regulations for stationary and mobile sources. If the Council finds, in carrying out an assessment under subsection (c)(1), that the United States has not met any emissions reductions target described in section 195, or if there is substantial risk that the United States may not meet an emissions reduction target described in that section, the Administrator shall, not later than 2 years after the date of the assessment by the Council, promulgate final regulations under this Act to update existing regulations or establish new regulations relating to a sector of the economy identified by the Council, with sufficient stringency and coverage to ensure that the United States meets the emissions reductions target. For purposes of other provisions of this Act, nothing in this part shall— affect the regulatory status of carbon dioxide or any other greenhouse gas; or limit regulatory authority relating to carbon dioxide or any other greenhouse gas. Nothing in this chapter shall preempt or limit State or local actions to address climate change. . Title IV of the Clean Air Act (relating to noise pollution) ( 42 U.S.C. 7641 et seq. ) is— amended by redesignating sections 401 through 403 as sections 701 through 703, respectively; and redesignated as title VII and moved to appear at the end of that Act.
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