Sponsors
The bill channels new revenues into infrastructure, climate R&D, health, and voting/access reforms while creating new taxes and compliance regimes that raise costs for households, businesses, and government operations and reduce some regulatory and procedural flexibilities.
Drivers, transit riders, and taxpayers: 70% of certain new revenues are directed to the Highway Trust Fund to support road, bridge, and transit maintenance and projects, bolstering transportation infrastructure.
Low-income households, state governments, and the clean‑energy sector: establishment of the RISE Trust Fund plus funding for ARPA‑E, carbon removal, battery storage, and weatherization provides predictable revenue for climate programs, clean‑energy R&D, deployment, and direct assistance to reduce energy bills.
Cancer patients and health systems: multi‑year NCI appropriations and a study of cancer‑drug shortages expand research funding and aim to identify causes of drug shortages, improving treatment access and continuity of care.
Most Americans and many businesses: a new domestic emissions tax plus a border GHG adjustment (and repeal of existing federal fuel excise taxes) could raise energy and goods costs and create market uncertainty for fuel suppliers and consumers.
Public health and communities: the bill moratoriums (or delays) EPA's authority to impose non‑tax greenhouse‑gas regulations for years in some scenarios, potentially delaying regulatory protections for air quality and climate‑related health risks.
Businesses, banks, state and federal agencies, and ultimately consumers: the package creates significant new compliance, reporting, and administrative burdens (tax administration, border adjustments, AML/CFT expansions, DBE implementation, and congressional ethics processes) that can increase costs and complexity.
Based on analysis of 24 sections of legislative text.
Imposes a new greenhouse‑gas tax and border adjustment, channels most receipts to a RISE Trust Fund, and makes broad changes to health funding, elections, defense, finance, school security, trafficking countermeasures, and veterans benefits.
Imposes a new federal domestic greenhouse‑gas emissions tax and a border greenhouse‑gas adjustment (Subtitle L) and directs 75% of receipts into a new Rebuilding Infrastructure and Solutions for the Environment (RISE) Trust Fund with multi‑year allocations to transportation, environmental, and energy programs. The bill also creates or changes funding and program rules across health, defense, elections, financial regulation, school security, anti‑trafficking enforcement, and veterans benefits. Other major actions include additional, multi‑year funding for the National Cancer Institute and a study on cancer drug shortages; a Department of Defense PFAS communities coordinator; a 20‑member National Bipartisan Fiscal Commission with expedited legislative procedures for its recommendations; tighter trading restrictions for House Members; strengthened anti‑money‑laundering measures tied to human trafficking; a CISA rulemaking and grant funding stream for school door upgrades; open primary rules for unaffiliated voters and new Election Day holiday; and expanded veteran preferences and ALS benefits in veterans law.
Introduced October 24, 2025 by Thomas Suozzi · Last progress October 24, 2025