A group of Democratic lawmakers introduced legislation aimed at making fossil fuel companies pay for their role in climate change. The proposed bill, unveiled Thursday, would enable the Treasury Department to impose fees on major U.S.-based fossil fuel companies. These fees would be based on the companies’ contributions to global warming emissions.
The bill seeks to create a $1 trillion fund, which would be used for infrastructure upgrades, pollution cleanup, and relief efforts following climate-related disasters. Senator Chris Van Hollen (D-Md.) sponsored the bill in the Senate, while Representatives Jerry Nadler (D-N.Y.) and Judy Chu (D-Calif.) are its primary sponsors in the House.
Though unlikely to pass in the Republican-controlled House and facing challenges in the Senate, the bill is expected to be a key Democratic issue ahead of the next election. A similar initiative was passed in Vermont earlier this year.
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