Carbon pricing offers a cost-effective way to reduce greenhouse gas emissions. Twelve states are already pricing carbon, and a number of states are considering similar action. This factsheet summarizes and compares five federal carbon pricing proposals that have been introduced so far in the 117th Congress (2021–2022), highlighting similarities and differences. Five of these proposals would establish a carbon tax (or “carbon fee”). The five proposals are:

• The America’s Clean Future Fund Act (S. 685 and H.R. 2451) introduced by Sen. Dick Durbin (D-Ill.) on March 10, 2021 and by Rep. Marie Newman (D-Ill.) on April 12, 2021
• The Energy Innovation and Carbon Dividend Act of 2021 (H.R. 2307) introduced by Rep. Ted Deutch (D-Fla.) on April 1, 2021
• The Modernizing America with Rebuilding to Kickstart the Economy of the Twenty-first Century with a Historic Infrastructure-Centered Expansion Act of 2021 (H.R. 3039) introduced by Reps. Brian Fitzpatrick (R-Pa.) and Salud Carbajal (D-Calif.) on May 7, 2021
• The America Wins Act of (H.R. 3311) introduced by Rep. John Larson (D-Conn.) on May 18, 2021
• The Save Our Future Act (S. 2085) reintroduced by Sens. Sheldon Whitehouse (D-R.I.), Brian Schatz (D-Hawaii), Martin Heinrich (D-N.M.), Kirsten Gillibrand (D-N.Y.), Jack Reed (D-R.I.), Chris Murphy (D-Conn.), and Dianne Feinstein (D-Calif.) on June 16, 2021