This bill establishes a tax on imported petroleum and natural gas based on methane emissions from their country of origin. The tax would equal the methane emissions charge that would apply if those fuels were produced in the United States under existing Clean Air Act regulations. Starting January 1, 2026, importers would pay this tax when bringing oil and natural gas into the country, with the tax amount calculated using emissions data from two years prior. The bill also directs the Treasury Secretary to work with the 10 largest oil and gas importing countries to adopt similar border taxes and to establish an international body to track emissions across supply chains and develop common standards. Every two years, the Treasury Secretary must report to Congress on whether additional products made with oil and natural gas should be added to the tax, considering impacts on domestic producers and employment.
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