America Wins Act
America Wins Act
The bill amends the Internal Revenue Code to impose an excise tax on the carbon dioxide content of coal, petroleum and petroleum products, and natural gas sold by the manufacturer, producer, or importer and require the revenues to be used for infrastructure and other purposes.
Refunds or credits for the tax must be issued for carbon substances that are: (1) not emitted due to use as a feedstock or through carbon capture and sequestration, or (2) previously taxed carbon substances used to make another taxable carbon substance.
The bill includes border adjustment provisions that require certain fees, credits, or refunds for carbon-intensive goods that are exported or imported.
The bill also establishes a Build America Trust Fund and appropriates to the fund amounts equal to the increase in revenues attributable to the tax. Specified amounts of the funds must be used, without further appropriation, for infrastructure, including
- highways and transit;
- aviation;
- passenger rail;
- harbors, waterways, flood protection, and dams;
- clean water;
- Department of Agriculture water and waste disposal programs; and
- broadband deployment.
Specified portions of the funds must also be used for:
- providing assistance to workers and communities reliant on industries that primarily produce taxable carbon substances or carbon-intensive goods,
- an energy refund program to provide payments to certain low-income households, and
- a refundable tax credit for households that meet specified income requirements.
Referred to the Subcommittee on Energy.
- Agriculture Committee
- Aviation Subcommittee
- Education and Workforce Committee
- Energy and Commerce Committee
- Energy and Mineral Resources Subcommittee
- Energy Subcommittee
- Environment Subcommittee
- Highways and Transit Subcommittee
- Natural Resources Committee
- Railroads, Pipelines, and Hazardous Materials Subcommittee
- Science, Space, and Technology Committee
- Transportation and Infrastructure Committee
- Water Resources and Environment Subcommittee
- Ways and Means Committee