S.332: Climate Protection Act of 2013

The Climate Protection Act would give the EPA the authority to impose a fee on producers of carbon emissions including manufacturers, producers, or importers of “carbon polluting substances.” It aims to reduce greenhouse gas emissions to 80% of 2005 levels by January 1, 2050. The funds raised from the fees will go towards State and local programs for climate change adaptation, infrastructure resiliency, while other funds would go to transportation infrastructure and resiliency projects including electric vehicle charging stations.  Three fifths of the funds raised would be returned to households in a monthly rebate to offset the increase in energy costs that would inevitably be passed down from energy  producers. It would also establish a trust fund which would distribute $7.5 billion in funds raised each year for the first ten years to “energy intensive and trade‐exposed industries” that may be put at disadvantage to other global industries from increased operating costs. Other funding would go towards weatherization programs, and job training, Department of Energy research funding, and federal budget deficit reduction.