United States 115th Congress Status: In Committee 1 D cosponsors

HR 2014 — Tax Pollution, Not Profits Act

Last action — Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 115th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Tax Pollution, Not Profits Act This bill amends the Internal Revenue Code to impose an excise tax on certain greenhouse gas emissions. The tax is equal to $30 per metric ton of carbon dioxide or carbon dioxide equivalent in 2018, increasing each subsequent year at 4% above inflation. The Internal Revenue Service must: (1) provide certain refunds of the tax to account for the capture and permanent sequestration of greenhouse gas emissions, and (2) adjust the tax to account for goods that are exported or imported. The bill amends the Social Security Act to establish a Low-Income Energy Cost Mitigation Program to provide an energy refund amount to certain low and middle-income households to compensate such households for increases in energy costs due to this bill. The Department of Labor may use up to 2% of the revenues generated by this bill to implement a program to assist displaced workers in the coal industry. The bill also provides for a gradual reduction in the corporate income tax rate to 32% in taxable years beginning in 2018 and 28% in taxable years beginning after 2021. The bill requires the Department of the Treasury to establish a website to make information regarding the amount and sources of revenue attributable to this bill publicly available.

Bill Text

Sections of law this bill changes

5 sections in 4 laws

From the bill's own amending language, matched to the official United States Code (current through Public Law 119-121).

Normal taxes and surtaxes · 26 U.S.C. ch. 1 2 sections
  • § 11 Tax imposed Amends

    26 U.S.C. § 11 — at 11(b)(1) and 11(b)(2)

    The law today

    (a) Corporations in general A tax is hereby imposed for each taxable year on the taxable income of every corporation. (b) Amount of tax The amount of the tax imposed by subsection (a) shall be 21 percent of taxable income. (c) Exceptions Subsection (a) shall not apply to a corporation subject to a tax imposed by— (1) section 594 (relating to mutual savings banks conducting life insurance business), (2) subchapter L (sec. 801 and following, relating to insurance companies), or (3) subchapter M (sec. 851 and following, relating to regulated investment companies and real estate investment trusts). (d) Foreign corporations In the case of a foreign corporation, the taxes imposed by subsection (a) and section 55 shall apply only as provided by section 882.

    57 other bills also change this section · Follow it → Official text at uscode.house.gov ↗

  • § 1201 Repealed. Pub. L. 115–97, title I, § 13001(b)(2)(A), Dec. 22, 2017, 131 Stat. 2096] Amends

    26 U.S.C. § 1201 — at 1201(a)

    This section is repealed in the current Code.

    5 other bills also change this section · Follow it → Official text at uscode.house.gov ↗

Withholding of tax on nonresident aliens and foreign corporations · 26 U.S.C. ch. 3 1 section
  • § 1445 Withholding of tax on dispositions of United States real property interests Amends

    26 U.S.C. § 1445 — at 1445(e)

    The law today

    (a) General rule Except as otherwise provided in this section, in the case of any disposition of a United States real property interest (as defined in section 897(c)) by a foreign person, the transferee shall be required to deduct and withhold a tax equal to 15 percent of the amount realized on the disposition. (b) Exemptions (1) In general No person shall be required to deduct and withhold any amount under subsection (a) with respect to a disposition if paragraph (2), (3), (4), (5), or (6) applies to the transaction. (2) Transferor furnishes nonforeign affidavit Except as provided in paragraph (7), this paragraph applies to the disposition if the transferor furnishes to the transferee an affidavit by the transferor stating, under penalty of perjury, the transferor’s United States taxpayer identification number and that the transferor is not a foreign person. (3) Nonpublicly traded domestic corporation furnishes affidavit that interests in corporation not United States real property interests Except as provided in paragraph (7), this paragraph applies in the case of a disposition of any interest in any domestic corporation if the domestic corporation furnishes to the transferee an affidavit by the domestic corporation stating, under penalty of perjury, that— (A) the domestic corporation is not and has not been a United States real property holding corporation (as defined in section 897(c)(2)) during the applicable period specified in section 897(c)(1)(A)(ii), or (B) as of the date of the disposition, interests in such corporation are not United States real property interests by reason of section 897(c)(1)(B). (4) Transferee receives qualifying statement (A) In general This paragraph applies to the disposition if the transferee receives a qualifying statement at such time, in such manner, and subject to such terms and conditions as the Secretary may by regulations prescribe. (B) Qualifying statement For purposes of subparagraph (A), the term “qualifying statement” means a statement by the Secretary that— (i) the transferor either— (I) has reached agreement with the Secretary (or such agreement has been reached by the transferee) for the payment of any tax imposed by section 871(b)(1) or 882(a)(1) on any gain recognized by the transferor on the disposition of the United States real property interest, or (II) is exempt from any tax imposed by section 871(b)(1) or 882(a)(1) on any gain recognized by the transferor on the disposition of the United States real property interest, and (ii) the transferor or transferee has satisfied any transferor’s unsatisfied withholding liability or has provided adequate security to cover such liability. (5) Residence where amount realized does not exceed $300,000 This paragraph applies to the disposition if— (A) the property is acquired by the transferee for use by him as a residence, and (B) the amount realized for the property does not exceed $300,000. (6) Stock regularly traded on established securities market This paragraph applies if the disposition is of a share of a class of stock that is regularly traded on an established securities market. (7) Special rules for paragraphs (2), (3), and (9) Paragraph (2), (3), or (9) (as the case may be) shall not apply to any disposition— (A) if— (i) the transferee or qualified substitute has actual knowledge that the affidavit referred to in such paragraph, or the statement referred to in paragraph (9)(A)(ii), is false, or (ii) the transferee or qualified substitute receives a notice (as described in subsection (d)) from a transferor’s agent, transferee’s agent, or qualified substitute that such affidavit or statement is false, or (B) if the Secretary by regulations requires the transferee or qualified substitute to furnish a copy of such affidavit or statement to the Secretary and the transferee or qualified substitute fails to furnish a copy of such affidavit or statement to the Secretary at such time and in such manner as required by such regulation...

    6 other bills also change this section · Follow it → Official text at uscode.house.gov ↗

Appropriations · 31 U.S.C. ch. 13 1 section
  • § 1324 Refund of internal revenue collections Amends

    31 U.S.C. § 1324 — at 1324(b)(2)

    The law today

    (a) Necessary amounts are appropriated to the Secretary of the Treasury for refunding internal revenue collections as provided by law, including payment of— (1) claims for prior fiscal years; and (2) accounts arising under— (A) “Allowance or drawback (Internal Revenue)”; (B) “Redemption of stamps (Internal Revenue)”; (C) “Refunding legacy taxes, Act of March 30, 1928”; (D) “Repayment of taxes on distilled spirits destroyed by casualty”; and (E) “Refunds and payments of processing and related taxes”. (b) Disbursements may be made from the appropriation made by this section only for— (1) refunds to the limit of liability of an individual tax account; and (2) refunds due from credit provisions of the Internal Revenue Code of 1986 (26 U.S.C. 1 et seq.) enacted before January 1, 1978, or enacted by the Taxpayer Relief Act of 1997, or from section 21, 24, 25A, 35, 36, 36A,1 36B, 168(k)(4)(F), 53(e),1 54B(h),1 3131, 3132, 3134, 6428, 6428A, 6428B, 6431,1 or 7527A of such Code, or due under section 3081(b)(2) of the Housing Assistance Tax Act of 2008.

    275 other bills also change this section · Follow it → Official text at uscode.house.gov ↗

Social security · 42 U.S.C. ch. 7 Amends the act as a whole

Also cites: 5 U.S.C. § 553, 7 U.S.C. § 2012, 7 U.S.C. § 2013, 7 U.S.C. § 2014, 7 U.S.C. § 2025, 7 U.S.C. § 2028, 26 U.S.C. § 36B, 42 U.S.C. § 1395w, 42 U.S.C. § 1395w-114, 42 U.S.C. § 4728, 42 U.S.C. § 9902

How this bill changes current law

1 change Share ↗

Compared against current U.S. Code AI-generated reading aid — verify against the official bill.

The bill establishes a new program providing energy refunds to low-income households as part of amendments to the Social Security Act.

  • Social Security Act (42 U.S.C. 301 et seq.)

    TITLE XXII--LOW-INCOME ENERGY COST MITIGATION PROGRAM SEC. 2201. LOW-INCOME ENERGY COST MITIGATION PROGRAM. (a) In General.--The Secretary, in consultation with the Commissioner of Social Security and the Secretary of Agriculture, shall formulate and administer the program provided for in this section, which shall be known as the `Low-Income Energy Cost Mitigation Program', and under which eligible households are provided an energy refund. (b) Eligibility of Households To Receive Energy Refund.--Each eligible household shall be entitled to receive monthly cash payments under this section in an amount equal to the monthly energy refund amount determined under subsection (d). (c) Eligibility.--(1) Eligible households.--A household shall be considered to be an eligible household for purposes of this section if--(A) ... (D) the household consists of a single individual or a married couple, and receives benefits under the supplemental security income program under title XVI of this Act (42 U.S.C. 1381-1383f). (2) Limitation.--Notwithstanding any other provision of law, ... (d) Monthly Energy Refund Amount.--(1) Estimated annual refund.-- ... (2) Monthly energy refund.--Subject to paragraph (3), the amount of the monthly energy refund for an eligible household under this section shall be--(A) if the household has 1, 2, 3, or 4 members, ... (B) if the household has 5 or more members, ... (3) Phaseout.--In any case in which the gross income of an eligible household exceeds 150 percent of the poverty line applicable to such household, ...

    This change creates a new energy cost mitigation program to provide refunds to eligible low-income households.

Action History

  1. Introduced in House

  2. Introduced in House

  3. Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

  4. Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

  5. Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

Show all 546 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation environment
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does HR 2014 do?
Tax Pollution, Not Profits Act This bill amends the Internal Revenue Code to impose an excise tax on certain greenhouse gas emissions. The tax is equal to $30 per metric ton of carbon dioxide or carbon dioxide equivalent in 2018, increasing each subsequent year at 4% above inflation. The Internal Revenue Service must: (1) provide certain refunds of the tax to account for the capture and permanent sequestration of greenhouse gas emissions, and (2) adjust the tax to account for goods that are exported or imported. The bill amends the Social Security Act to establish a Low-Income Energy Cost Mitigation Program to provide an energy refund amount to certain low and middle-income households to compensate such households for increases in energy costs due to this bill. The Department of Labor may use up to 2% of the revenues generated by this bill to implement a program to assist displaced workers in the coal industry. The bill also provides for a gradual reduction in the corporate income tax rate to 32% in taxable years beginning in 2018 and 28% in taxable years beginning after 2021. The bill requires the Department of the Treasury to establish a website to make information regarding the amount and sources of revenue attributable to this bill publicly available.
Who sponsors HR 2014?
HR 2014 is sponsored by Delaney, John K. (Democratic).
What is the current status of HR 2014?
This bill died with 115th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HR 2014?
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