Senate Democrats to introduce measure taxing major polluter

The Hill ^ | 08/04/21 02:13 PM EDT | Zak Budryk

[newzjunkey]

Senate Democrats are set to unveil legislation that would tax energy companies responsible for major greenhouse gas emissions to pay for the costs of climate disasters.

The Polluters Pay Climate Fund Act, sponsored by Sen. Chris Van Hollen (D-Md.), would require between 25 to 30 of the U.S. corporations responsible for the most greenhouse gas pollution to pay $300 billion into a fund over 10 years.

The legislation would require companies to pay into the fund if they were responsible for at least .05 percent of global carbon dioxide and methane emissions between 2000 and 2019 based on data from the Treasury Department and Environmental Protection Agency…

In a document shared with The Hill, Van Hollen's office estimated major companies such as Shell, ExxonMobil and Chevron would be taxed $5 billion to $6 billion annually under the bill.

The Democratic senator pointed to other policies that could accompany the measure, such as carbon pricing and a clean-energy standard.

The exact uses of the money in the fund have not yet been determined, Van Hollen said, adding there would be a public comment period. Possible uses include building more climate-resilient infrastructure, particularly in disadvantaged communities and communities of color…

[Crim]

And any tax will be offset by higher prices for energy at customer expense...

Liberals hate cheap reliable energy...

[Vaduz]

The have an ample supply of them note history.

[HenpeckedCon]

This is an ex-post facto law, and is unconstitutional, but it’s not like unconstitutionality means anything any longer.
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Ever heard of a “retroactive” tax hike. Us Massholes have been paying them for years.