- cutting the level of carbon emissions by 80% from levels they were at in 2005 by 2050
- imposing a tax of $20 per ton of emissions on companies that pollute, with a 5.6% increase every year
- refunding 60% of the taxes collected back to the public and putting the rest towards funding clean-energy ventures
The bill was proposed in February of 2013, and upon proposal, President Obama made it clear that he's unwilling to push for it. Aside from lacking the support of the president, which would be essential, the bill and most others like it are strongly opposed by Congressional Republicans. While many politicians acknowledge that problems are present, they are not willing to take measures needed to improve conditions. This hypocrisy is further exemplified by China's February announcement for their own carbon tax. Without the support of the president and more members of Congress and the Senate, it is practically assured that China will pass a bill before the US.
http://www.youtube.com/watch?feature=player_embedded&v=cyD_6DNS_UA