H.R.8572: Carbon Reduction and Tax Credit Act

About This Bill

Bill Version

Bill Summary

Carbon Reduction and Tax Credit Act This bill imposes an excise tax on coal mines or oil or gas wells equal to $50 per ton of carbon contained in fuel produced at such mines or wells located in the United States, or entered into the United States for consumption, use, or warehousing. It also allows an individual taxpayer (other than a nonresident alien) a refundable income tax credit equal to $1,000, subject to a phaseout if the taxpayer's...

(Source: Library of Congress)

Bill Actions

Date Description
July 28, 2022
Referred to the House Committee on Ways and Means.
July 28, 2022

Introduced in the House by Sean Patrick Maloney (D-N.Y.)

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