H.R. 1689 (116th) - Climate Change Resiliency Fund for America Act (Deutch)

Energy and Commerce; Transportation and Infrastructure; Ways and Means
Co-sponsors: 0

This bill will create a Climate Change Advisory Commission under the Department of Commerce. The commission will consist of 11 members appointed by the President, Speaker of the House of Representatives, Minority Leader of the House, Senate Majority Leader, and Senate Minority Leader. The commission will provide recommendations on how to improve energy, transportation, and water infrastructure to increase climate resiliency. This bill will also establish a Climate Change Resiliency Fund under the Department of Commerce, which the commission will oversee. This fund will provide money for projects that improve a region’s climate resiliency or mitigate existing climate challenges. The money from this fund will come from new “climate bonds” issued by the Treasury Department. Under this bill, the Treasury Department may issue these climate bonds from $200 million up to $1 billion and these bonds are exempt from state and local taxes.
(Summary from Deutch press release)

This bill addresses Green New Deal goals 2(A)p.7 to leverage funding to build resiliency against climate change-related disasters, 2(B)p.7 to update infrastructure in the United States, 4(A)p.11 to provide assistance to communities.