Us Congress 2023-2024 Regular Session

Us Congress House Bill HB6665

Introduced
12/7/23  
Refer
12/7/23  
Refer
12/8/23  
Refer
12/11/23  

Caption

MARKET CHOICE Act Modernizing America with Rebuilding to Kickstart the Economy of the Twenty-first Century with a Historic Infrastructure-Centered Expansion Act

Impact

The bill's implications touch on a broad range of local and federal statutes concerning environmental regulation and fiscal management. By establishing a tax on greenhouse gas emissions, it encourages industries to consider their ecological footprint and adopt cleaner practices. The revenue generated from these taxes is allocated primarily towards the Highway Trust Fund, disaster preparedness efforts, and grants for displaced workers in the energy sector. Moreover, the provisions assure that state laws will not be preempted, thus enabling states to implement more stringent emissions regulations if they choose. This framework positions the legislation as a balancing act between federal fiscal policy and state autonomy in environmental regulation.

Summary

House Bill 6665, known as the Modernizing America with Rebuilding to Kickstart the Economy of the Twenty-first Century with a Historic Infrastructure-Centered Expansion Act, proposes significant changes to fuel taxation while introducing a new tax on greenhouse gas emissions. This exploration of fiscal policy aims to funnel resources into maintaining and building critical American infrastructure. The bill aims to eliminate certain fuel excise taxes while instituting a greenhouse gas emissions tax that would tax fossil fuels produced or imported into the U.S., starting at a baseline rate which will increase incrementally each year. The bill's revenue generation measures are intended to provide ongoing funds directed towards various infrastructure projects nationwide, addressing both climate adaptation and economic development needs.

Contention

Criticism arises around the potential economic burden this bill may impose on certain industries, particularly those reliant on fossil fuels. Opponents argue that the increased costs associated with the new emissions tax could lead to higher prices for consumers and burdens on businesses. Additionally, there are concerns regarding the efficacy of funding distribution from the RISE Trust Fund, with some stakeholders fearing misallocation or inadequate financial support for crucial projects. Thus, while many advocate for the progressive goals of reducing emissions and addressing climate change, the bill's implementation specifics remain a focal point for debate among lawmakers and industry advocates alike.

Companion Bills

No companion bills found.

Previously Filed As

US HB3338

MARKET CHOICE Act Modernizing America with Rebuilding to Kickstart the Economy of the Twenty-first Century with a Historic Infrastructure-Centered Expansion Act

US HB3001

Modernizing America with Rebuilding to Kickstart the Economy of the Twenty-first Century with a Historic Infrastructure-Centered Expansion Act Knock Out Cancer Act MARKET CHOICE Act Justice for ALS Veterans Act of 2025 Election Day Act Let America Vote Act SAFER Schools Act of 2024 Secure And Fortify Entrances and Rooms in Schools Act of 2024 KO Cancer Act

US SB3422

Clean Competition Act

US HB9245

American Housing and Economic Mobility Act of 2024 Community Reinvestment Reform Act of 2024

US HB6515

FOREST Act of 2023 Fostering Overseas Rule of law and Environmentally Sound Trade Act of 2023

US HB6687

Innovative FEED Act of 2023 Innovative Feed Enhancement and Economic Development Act of 2023

US HB6608

End Hedge Fund Control of American Homes Act

US HB2038

American Housing and Economic Mobility Act of 2025 Community Reinvestment Reform Act of 2025

US HB7571

Americas Act

US HB3151

SHIPS for America Act of 2025 Shipbuilding and Harbor Infrastructure for Prosperity and Security for America Act of 2025

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