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Clean Competition Act

Introduced: June 7, 2022 Introduced by: Whitehouse, Sheldon Democratic · Rhode Island See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 7, 2022
Read twice and referred to the Committee on Finance.
Jun 7, 2022
Introduced in Senate
 Plain-English summary Congressional Research Service

Clean Competition Act

This bill creates a carbon border adjustment mechanism to lower greenhouse gas emissions in high-polluting sectors. This mechanism imposes charges on imports from carbon-intensive (e.g., fossil fuels, refined petroleum products, petrochemicals) manufacturers, encourages decarbonization efforts, and funds future research, development, and deployment efforts to achieve a net-zero carbon future.

The bill requires annual calculations of carbon intensity, imposes a carbon intensity charge on imports into the United States beginning after 2023, and allows for rebates for overpayments of charges.

The bill also establishes a grant program in FY2025 and subsequent fiscal years for investments in new technology to reduce carbon intensity in existing facilities and ensure best-in-class carbon intensity for proposed facilities.

What's happening now June 7, 2022

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 3