Establishes a carbon emissions tax to reduce greenhouse gas emissions and fund a carbon cashback program.

This bill establishes a carbon emissions tax on fossil fuels to reduce greenhouse gas emissions and fund a carbon cashback program. The tax rates will incrementally increase each year, starting at $3.15 per barrel of petroleum products in 2026 and reaching $40.11 by 2036. The tax will also apply to fossil fuels measured in million British thermal units. The tax revenue will be used to fund the carbon cashback program, which provides refundable tax credits to lower-income taxpayers to mitigate the impact of the tax.

Establishes a carbon emissions tax to reduce greenhouse gas emissions and fund a carbon cashback program.

This bill establishes a carbon emissions tax on fossil fuels to reduce greenhouse gas emissions and fund a carbon cashback program. The tax rates will incrementally increase each year, starting at $3.15 per barrel of petroleum products in 2026 and reaching $40.11 by 2036. The tax will also apply to fossil fuels measured in million British thermal units. The tax revenue will be used to fund the carbon cashback program, which provides refundable tax credits to lower-income taxpayers to mitigate the impact of the tax.