Posted on 08/05/2021 12:30:52 AM PDT by 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…
(Excerpt) Read more at thehill.com ...
It’s a slush fund which will raise gas prices and disproportionately effect the working poor, middle class and “communities of color” who generally can’t afford to own brand new Tesla or eTron or Mustang Mache. And can’t buy carbon offsets like wealthy celebrities and politicians.
Have we ever seen future taxation based on past data not ongoing circumstances? Why is Exxon liable rather than consumers or auto companies?
Ex post facto?
-PJ
“Why is Exxon liable rather than consumers or auto companies?”
Have you EVER seen a corporate tax that DIDN’T get passed right along to consumers?
YOU AND I are on the hook for this!
These jerks should see what China and India have been doing pollutimg this planet for the last five decades.
This is an ex-post facto law, and is unconstitutional, but it’s not like unconstitutionality means anything any longer.
Russia too.
“Possible uses include building more climate-resilient infrastructure, particularly in disadvantaged communities and communities of color…”
Funnel Cover Speak. Nearly everything now.
Just like O-BodyMortgageNoCare.
❎
We already have pollution laws on the books.
If they failed to enforce what is already on the books, making ex post facto laws doesn’t fix their incompetence.
They are on their last legs. The words coming out of their own mouths. They do not believe. Someone is in a corner. Who is that?
Why would ANYONE EVER vote for dems? I don’t get it.
CO2 is plant food. It is not pollution.
good point
Bingo!
I guess they didn’t donate enough to democrats.
I hope the donkeys do this...Gas prices will skyrocket and the voters will throw the bums out.
Voters elected Trump on Nov 3rd too. But democrats stole the election.
The plan going forward is give illegal aliens the right to vote. Stealing won’t be necessary when the dimocrats “acquire” millions upon millions of new voters
75% of the CO2 in the atmosphere comes from nature.....
Intellectually dishonest thieves!
“major polluter”
I’m still trying to figure out where the ‘pollution’ is in this article. It can’t be Carbon Dioxide, since that gas is released by all living animals, maybe Sulfur Dioxide, Carbon Monoxide, Toxic Metals, something?
I’ll check again.
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