Sponsors (2)
Introduced May 13, 2025 by Brian K. Fitzpatrick · Last progress May 13, 2025
The bill redirects substantial new revenues toward transportation, resilience, and clean‑energy programs and builds institutions to govern emissions policy—providing infrastructure and climate investments but creating higher near‑term costs, revenue tradeoffs, and regulatory uncertainty for households, businesses, and state budgets.
Drivers, commuters, and state and local governments gain a large, stable new revenue stream and statutory support to maintain and upgrade roads, bridges, airports, and transit—reducing deterioration, service disruptions, and shortfalls in transportation funding.
Households, workers, and the energy sector benefit from expanded federal investment in clean-energy R&D (ARPA‑E, carbon capture, batteries, carbon removal) plus economy-wide incentives that can spur innovation, new clean-energy jobs, and longer-term lower-emission production.
State governments and taxpayers get predictable, dedicated funding and improved federal-state coordination (annual state grants and an independent Commission with evidence-based targets) to support state energy, equity, and emissions planning.
Households and businesses could face higher taxes, fees, or energy and goods prices if emissions pricing, border adjustments, or new Treasury-set rates are implemented and costs are passed through.
Diverting a large portion of new subtitle revenues into a dedicated trust fund (and repealing or changing current fuel-tax rules) reduces general Treasury receipts and could constrain other federal priorities or increase deficits unless offsets are found.
Delegating core program design (rates, credits, enforcement) to Treasury/IRS rulemaking creates a period of regulatory uncertainty that complicates business planning and investment until final rules are issued.
Based on analysis of 10 sections of legislative text.
Imposes new domestic greenhouse-gas taxes with border adjustments, directs most revenue to a RISE Trust Fund for infrastructure and climate programs, limits some EPA GHG rules, and creates a National Climate Commission.
Creates a new tax framework aimed at domestic greenhouse gas (GHG) emissions and a matching border adjustment, funnels most revenue into a newly created Rebuilding Infrastructure and Solutions for the Environment (RISE) Trust Fund to support highways, airports, energy programs, carbon removal, worker assistance, and coastal resilience, and places a temporary moratorium on certain EPA rules that directly limit taxed GHG emissions. Also establishes a bipartisan National Climate Commission to set emissions goals and report on federal policy, and authorizes multi-year funding for the Commission.