Sponsors
Introduced October 24, 2025 by Thomas Suozzi · Last progress October 24, 2025
The bill channels new revenues toward highways, climate and social programs and advances health, ethics, election access, and safety measures, but does so by imposing an emissions tax and structural changes that raise consumer and business costs, limit some regulatory tools, accelerate fiscal trade-offs, and create new compliance and privacy burdens.
State and local governments, and drivers and transit users, receive new predictable federal funding for highways, transit, and state-level climate/infrastructure projects via the RISE Trust Fund allocations.
Households, energy workers, and the clean-energy sector gain sustained support for clean-energy R&D, deployment (ARPA‑E, carbon capture, batteries, carbon transport), plus assistance for displaced energy workers (retraining, relocation, health benefits, pension support).
Cancer patients, hospitals, and researchers gain substantially increased federal research funding (NCI +25% of FY2024 annually 2026–2030) to accelerate cancer research, treatments, and actions to address drug shortages.
Households and businesses face higher fuel and consumer costs because the bill imposes a large emissions tax and concurrently repeals some motor fuel and aviation fuel taxes during the transition, shifting costs onto taxpayers and fuel consumers.
Public health and environmental safeguards could be weakened while the emissions tax is in effect because the bill limits EPA authority to regulate greenhouse gases and creates moratoria/exemptions that reduce regulatory tools to cut emissions and protect communities.
Businesses subject to the new emissions tax and related statutory changes face increased compliance costs and competitiveness risks (including burdens on small firms and certain energy- or transport-intensive industries), which can raise prices or affect jobs even with border adjustments.
Based on analysis of 24 sections of legislative text.
Imposes a domestic greenhouse‑gas emissions tax with a border adjustment, routes most revenue to a new RISE Trust Fund for infrastructure and energy programs, and adds multiple unrelated provisions on health, veterans, elections, ethics, and security.
Creates a new federal domestic greenhouse‑gas emissions tax (with a border adjustment) and directs most of the revenues into a new "Rebuilding Infrastructure and Solutions for the Environment" (RISE) Trust Fund that finances highways, energy and climate research, abatement programs, and community resilience. The measure also packs many unrelated changes: multi‑year cancer research funding, new VA benefits for veterans who die from ALS, limits on congressional trading in complex financial instruments, new requirements and grant funding for school door security, rules expanding unaffiliated voter access in primaries, a DoD PFAS community liaison, anti‑trafficking financial reporting improvements, a bipartisan fiscal commission with an expedited congressional process, and a short classified intelligence review on information‑sharing with Ukraine. Together the provisions create new taxes and dedicated revenue flows, authorize or appropriate new funding for research and infrastructure, change veterans’ and election rules, impose new compliance and reporting duties on federal agencies and private sectors (especially energy, finance, and schools), and introduce ethics and governance reforms that affect Members of Congress and multiple federal agencies.