Market choice act summary

Modernizing America with Rebuilding to Kickstart the Economy of the Twenty-first Century with a Historic Infrastructure-Centered Expansion Act or the MARKET CHOICE Act

This bill imposes a tax on the greenhouse gas emissions of fossil fuels, certain industrial processes, and certain product uses.

The bill transfers tax revenue to a Rebuilding Infrastructure and Solutions for the Environment Trust Fund (RISE Trust Fund) established by this bill. Specified amounts in the trust fund shall be available for the federal Highway Trust Fund, grants to low-income households, and other specified energy, environmental, infrastructure, and research and development priorities.

• eliminates the federal motor vehicle and aviation fuel taxes,
• modifies the tax credit for carbon capture and storage and the qualifying advanced coal project tax credit,
• imposes a moratorium on finalizing and enforcing certain Clean Air Act regulations on greenhouse gas emissions, and
• establishes a National Climate Commission to review policies to reduce greenhouse gas emissions.

The moratorium on regulations for limiting greenhouse gas emissions expires in 2035 if specified emission targets are not reached.