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The Democrats' Border Carbon Adjustment Proposal - Energy and Natural Resources


Co-authored by Isabel Root (Intern)
On Monday, July 19, 2021, Sen. Chris Coons (D-DE) and Rep. Scott
Peters (D-CA-52) introduced The FAIR Transition and Competition Act
of 2021 (S. 2378). The bill would, among other things,
amend the Internal Revenue Code of 1986, as amended, by
establishing a Border Carbon Adjustment (BCA). As proposed, the BCA
may be likened to a value-added tax (VAT) and is intended to
address the phenomenon known as carbon leakage, wherein
market actors attempt to avoid the cost of greenhouse gas
regulations by sourcing products from less regulated jurisdictions.
Proponents of border tax adjustments argue that they level the
playing field for manufacturers in the United States whose ....

New York , United States , Chuck Schumer , Mitt Romney , Environmental Protection Agency , Development Assistance Committee List , Development Assistance Recipients , Organization For Economic Cooperation , Isabel Root , Chris Coons , Competition Act , Internal Revenue Code , Border Carbon Adjustment , United States , Least Developed , Official Development Assistance Recipients , Economic Cooperation , Clean Air Act , Resilient Communities Grant , New York Times , Uncle Sucker , Joe Manchin , Roll Call , Brian Schatz , Mark Warner , John Barrasso ,

The Democrats' Border Carbon Adjustment Proposal | Akin Gump Strauss Hauer & Feld LLP


[co-author: Gabriel Harrison]
On Monday, July 19, 2021, Sen. Chris Coons (D-DE) and Rep. Scott Peters (D-CA-52) introduced The FAIR Transition and Competition Act of 2021 (S. 2378). The bill would, among other things, amend the Internal Revenue Code of 1986, as amended, by establishing a Border Carbon Adjustment (BCA). As proposed, the BCA may be likened to a value-added tax (VAT) and is intended to address the phenomenon known as “carbon leakage,” wherein market actors attempt to avoid the cost of greenhouse gas regulations by sourcing products from less regulated jurisdictions. Proponents of border tax adjustments argue that they level the playing field for manufacturers in the United States whose emissions are subject to regulation ....

New York , United States , Chuck Schumer , Akin Gump Strauss Hauer Feld , Environmental Protection Agency , European Commission , Organization For Economic Cooperation , Akin Gump Strauss Hauer , Chris Coons , Scott Peters , Competition Act , Internal Revenue Code , Border Carbon Adjustment , United State , Least Developed Countries , Development Assistance Committee List , Official Development Assistance Recipients , Economic Cooperation , Clean Air Act , Resilient Communities Grant , New York Times , Uncle Sucker , Joe Manchin , Roll Call , Brian Schatz , Mark Warner ,