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H.R. 4058 116th Congress House

SWAP Act

Official title: To amend the Internal Revenue Code of 1986 to impose a tax on greenhouse gas emissions, accordingly reduce tax rates on payroll, and for other purposes.

Introduced: July 25, 2019 See on congress.gov
Taxation Administrative law and regulatory proceduresAir qualityAviation and airportsClimate change and greenhouse gases
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CoalElectric power generation and transmissionEmployment taxesEnvironmental Protection Agency (EPA)Environmental regulatory proceduresGovernment trust fundsIndustrial facilitiesInternational organizations and cooperationManufacturingMetalsMiningMotor vehiclesOil and gasSales and excise taxesTax administration and collection, taxpayers
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 26, 2019
Referred to the Subcommittee on Consumer Protection and Commerce.
Jul 25, 2019
Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, and Science, Space, and Technology, 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.
Jul 25, 2019
Introduced in House
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 Latest action July 26, 2019

Referred to the Subcommittee on Consumer Protection and Commerce.

 Plain-English summary Congressional Research Service

Stemming Warming and Augmenting Pay Act of 2019 or the SWAP Act.

This bill imposes a tax on combusted fossil fuel greenhouse gas emissions. The tax is equal to $30 per metric ton of carbon dioxide equivalent emissions beginning in 2021. The tax increases by 5% plus inflation each year and increases by $3 per ton every two years if the previous year's emission goals are not met.

The revenue from such tax is divided (1) 70% for the reduction of payroll taxes; (2) 10% for additional payments to Social Security beneficiaries, and (3) 20% to establish a carbon trust fund for block grants to offset higher energy costs for low-income households, climate adaptation, energy efficiency, carbon sequestration, and research and development programs.

The bill also amends the Clean Air Act to impose a 12-year moratorium on regulations that limit greenhouse gas emissions. This moratorium may be lifted if certain emission targets are not met.

 Related & companion bills 1
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 4
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 4058: SWAP Act. 116th Congress. Open America. https://openamerica.io/bill/116-HR-4058/
MLA
"H.R. 4058: SWAP Act." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-HR-4058/.
Bluebook (legal)
H.R. 4058, 116th Cong. (2026), https://openamerica.io/bill/116-HR-4058/.
Markdown link
[H.R. 4058: SWAP Act](https://openamerica.io/bill/116-HR-4058/)
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