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  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      House Committee on Ways and Means
    IntroducedJanuary 15th, 2009

Bill Details

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Title

Save Our Climate Act of 2009

Official Title

To amend the Internal Revenue Code of 1986 to reduce emissions of carbon dioxide by imposing a tax on primary fossil fuels based on their carbon content.

Summary

Save Our Climate Act of 2009 - Amends the Internal Revenue Code to impose an excise tax on the carbon content of any taxable fuel sold by a manufacturer, producer, or importer. Sets the amount of such tax at $10 per ton of the carbon content in such fuel, with annual increases in the amount of such tax until the second year after the level of carbon dioxide emissions in the United States for the calendar year does not exceed 20% of the level for 1990. Defines "taxable fuel" as coal (including lignite and peat), petroleum and any petroleum product, and natural gas. Exempts from such tax the sale or in-kind exchange of fuel for deposit in the Strategic Petroleum Reserve and certain exports or resales of such fuel.

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