Newly-proposed legislation called a border carbon ‘adjustment’ fee would add a surcharge to imports that are carbon heavy. The FAIR Transition and Competition Act would impose what two Democratic legislators who authored it call a “border carbon adjustment” on imports.
This would be on things like aluminum, cement, iron, steel, natural gas, petroleum and coal. The fee would be based on a calculated cost to reduce greenhouse gas emissions in those industries. The money collected would go to states or fund research to reduce or eliminate emissions. Some Legislative aids say it could generate up to 16-billion dollars a year in fees.
Read more coverage of the carbon markets in the Carbon Innovation Center.
