HR 9573 United States House · 118th Congress

Polluters Pay Climate Fund Act of 2024

The Polluters Pay Climate Fund Act of 2024 would require major fossil fuel companies that emitted more than 1 billion metric tons of carbon dioxide between 2000 and 2022 to pay a tax based on their historical emissions. The tax revenue would fund a new Climate Fund that would provide $15 billion annually for disaster response and resilience programs through FEMA, $6 billion for clean air initiatives, and mandate 40% of funds support environmental justice communities. The fund would finance climate resilience projects including climate-resilient infrastructure, ecosystem restoration, and support for vulnerable communities affected by climate change. Companies could pay the tax over nine years, and the bill explicitly states it does not affect existing legal claims against polluters for climate-related damages.

Sub-Topics: Revenue Climate Change Environmental Justice Air Quality

Bill status in committee 1 of 4 stages cleared

Introduction

Sep 2024

Committee Review

Floor Vote

President

Introduced Sep 12, 2024 Last action Sep 12, 2024

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Committee

Sep 12, 2024

Committee

Referred to the Committee on Ways and Means, and in addition to the Committees on Transportation and Infrastructure, and Energy and Commerce, 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.

lower

Sep 12, 2024

Introduced

Introduced in House

lower

1 primary · 22 co-sponsors