This comprehensive bill establishes a national carbon tax to fund infrastructure while also addressing cancer research funding, PFAS community coordination, fiscal responsibility, House stock trading restrictions, Russia sanctions, school safety upgrades, primary election rules, intelligence sharing with Ukraine, veteran infrastructure contracting, and ALS survivor benefits.
Brian Fitzpatrick
Representative
PA-1
This comprehensive bill addresses several national priorities, including establishing a national carbon tax to fund infrastructure and transition programs, increasing cancer research funding, and creating a commission to address the national debt. It also includes measures to restrict stock trading for House members, sanction Russia, enhance school safety, standardize primary election rules, review intelligence sharing with Ukraine, support veteran small businesses, and increase benefits for ALS veteran survivors. Overall, the legislation seeks to tackle climate change, improve health and infrastructure funding, reform governance, and support veterans.
Massive Bill Imposes $35/Ton Carbon Tax, Repeals Gas Tax, and Bans Congressional Stock Trading
This legislation is a massive, multi-title bill that tries to tackle just about everything—from climate change and infrastructure to cancer research and congressional ethics. At its core, the bill establishes a new national tax on greenhouse gas emissions, significantly ramps up sanctions on Russia, and introduces a powerful, fast-track commission to address the national debt.
The Carbon Tax Swap: What It Means for Your Wallet
The most immediate real-world change comes from Title I (Market Choice Act), which establishes a federal tax on greenhouse gas emissions, starting at $35 per metric ton, no earlier than 2027. If you drive a car or pay an electric bill, this is the part that hits close to home. The idea is to make carbon-intensive activities more expensive to encourage cleaner alternatives. However, the bill tries to soften the blow for consumers by repealing existing federal taxes on gasoline and aviation fuel starting at the end of 2025. For the average commuter, this means you might see lower prices at the pump initially, but once the carbon tax kicks in, the cost of gas, electricity, and manufactured goods will likely rise. The good news? A portion of the tax revenue is earmarked for state-administered grants to help low-income households offset these higher energy costs. The rest of the money—70% of it—is directed straight into the Highway Trust Fund, meaning more money for desperately needed repairs on roads, bridges, and transit systems.
Ethics and the Expedited Budget Blitz
Title V is a straight-up attempt to clean up Washington by prohibiting Members of the House of Representatives from owning or trading most individual stocks, bonds, and commodities. They can still hold broad, diversified investments like mutual funds, but the days of a member of Congress voting on a bill that directly affects a stock they personally own are intended to be over. This is a clear win for public trust, addressing the perception that politicians might be profiting from insider information.
On the other hand, Title IV establishes a National Bipartisan Fiscal Commission to recommend a plan for stabilizing the national debt. This commission gets 18 months to come up with a comprehensive package of changes to federal spending and taxes. Here’s the catch: the bill mandates an expedited process in Congress for voting on the commission's proposal. This means limited debate, no amendments, and a quick up-or-down vote on the entire package. While the goal of addressing the debt is laudable, this procedural move concentrates immense power into a single commission and bypasses the normal, messy legislative scrutiny that often protects popular programs like Social Security or Medicare from sweeping, sudden changes.
Targeting Russia and Funding Cancer Research
Title VI (Sanctioning Russia Act) brings the hammer down on the Russian economy. This title is extensive, imposing broad sanctions on Russian financial institutions and government entities, effectively cutting them off from the U.S. financial system. For consumers, the biggest impact is the massive tariff increase of at least 500% on all Russian goods and services, including oil, gas, and uranium. If you’re a U.S. business that relies on Russian imports, expect costs to spike dramatically. The bill also applies secondary sanctions, meaning other countries that continue to engage in certain trade with Russia could face penalties, which might complicate international trade for U.S. companies.
In a completely different area, Title III (KO Cancer Act) provides a substantial boost to the National Cancer Institute (NCI), giving it an additional 25% of its 2024 budget every year from 2026 through 2030. This sustained funding aims to accelerate research. Crucially, it also requires a federal study on the root causes of ongoing cancer drug shortages, which is a major, life-threatening problem for patients and providers right now. The resulting report should give Congress a clear plan for fixing the broken supply chain.
Primary Elections and Veteran Support
Finally, the bill touches on democracy and veterans. Title VIII (Let America Vote Act) requires states to allow unaffiliated voters to participate in primary elections, which is a huge deal for the millions of people who don't want to register with a party but still want a say in who makes the final ballot. States that comply get federal funding to manage the change. Simultaneously, the bill prohibits noncitizens from voting in federal elections and ties state funding to a similar ban in state and local elections. Separately, Title XI (Justice for ALS Veterans Act) provides enhanced financial support to the long-term spouses of veterans who die from ALS, treating their death as service-connected for benefit purposes, provided the couple was married for at least eight years.