The America's Clean Future Fund Act establishes a new independent federal agency called the Climate Change Finance Corporation to fund clean energy and climate resilience projects aimed at reducing U.S. greenhouse gas emissions by 45% by 2030 and 100% by 2050. The bill implements a carbon fee starting at $75 per metric ton of CO2 equivalent in 2027, increasing by $10 annually, applied to fossil fuel producers and major industrial emitters, with revenue allocated toward consumer rebates (75%), climate finance initiatives (15%), and community transition assistance (10%). It includes a consumer stimulus program providing quarterly payments to eligible households, support for farmers adopting climate-smart practices, and $5 billion annually for worker retraining and community economic development in regions affected by the shift away from fossil fuels. The legislation also mandates prevailing wage requirements and domestic purchasing standards for clean energy projects, with the EPA and Council on Environmental Quality required to track progress toward emissions targets and report findings to Congress every two years.
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