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Congressional Research Service
Version 00 · Introduced in House · Sep 27, 2023
Energy Innovation and Carbon Dividend Act of 2023
This bill imposes a fee on the carbon content of fuels, including crude oil, natural gas, coal, or any other product derived from those fuels that will be used so as to emit greenhouse gases into the atmosphere.
The fee is imposed on the producers or importers of the fuels and is equal to the greenhouse gas content of the fuel multiplied by the carbon fee rate. The rate begins at $15 per metric ton of CO2-e (i.e., carbon dioxide equivalent) in 2023, increases by $10 each year, and is subject to further adjustments based on the progress in meeting specified emissions reduction targets.
Showing the opening paragraphs of the official summary.
The bill also includes
exemptions for fuels used for agricultural or nonemitting purposes,
exemptions for fuels used by the Armed Forces,
rebates for facilities that capture and sequester carbon dioxide, and
border adjustment provisions that require certain fees or refunds for carbon-intensive products that are exported or imported.
The fees must be deposited into a Carbon Dividend Trust Fund and used for administrative expenses and dividend payments to U.S. citizens or lawful residents. The fees must be decommissioned when emissions levels and monthly dividend payments fall below specified levels.
The bill also requires the Department of Energy to enter into agreements with the National Academy of Sciences to study and report on various impacts related to the carbon fee and emissions reduction schedule established by the bill.
People & committees
Rep. Carbajal, Salud O. [D-CA-24] · D–CA
Legislative record
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Referred to the Subcommittee on Trade.
Referred to the Subcommittee on Social Security.
Referred to the Subcommittee on Energy, Climate and Grid Security.
Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, and Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, and Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, and Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced in House
Introduced in House
Primary sources
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No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Jan 15, 2025. Consult Congress.gov for the current record.
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