Us Congress House Bill HB9230

Us Congress 2023-2024 Regular Session

• Introduced: 7/30/24
• Refer: 7/30/24

Caption

Climate Pollution Standard and Community Investment Act of 2024

Impact

The implementation of HB 9230 is expected to significantly alter state-level environmental regulations and strategies by incentivizing cleaner energy and phasing out high-emission practices. States will be given opportunities to utilize proceeds from emissions allowances for funding clean energy initiatives and providing financial assistance to low-income families, thereby stimulating economic growth while addressing climate change. This approach aims to create a structured pathway for states to transition to greener energy sources, potentially reducing heavy reliance on fossil fuels over time.

Summary

House Bill 9230, also known as the Climate Pollution Standard and Community Investment Act of 2024, aims to amend the Clean Air Act by establishing a comprehensive framework for phasing down greenhouse gas emissions. The bill organizes various initiatives through defined funds to facilitate energy transition, reduce greenhouse gas emissions, and support affected communities. Key measures include the creation of an emission allowance market where states and tribes can auction allowances to generate revenue for various programs targeted at enhancing energy efficiency and incentivizing low-emission alternatives.

Contention

While proponents laud the bill for its environmental benefits and the support it offers to low-income families and displaced workers, opponents argue about the economic implications of stricter regulations on industries reliant on fossil fuels. Critics express concerns about the potential job losses in traditional energy sectors and the increase in energy costs for consumers, especially in low-income households. Balancing the transition to a clean energy economy while ensuring job security remains a critical point of discussion among stakeholders.