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They quoted from the bill that it counts as regular, reportable income, so it would be taxable unless you have to report it and then it becomes some kind of deduction you have to file for on your income tax return.
(3) CARBON DIVIDEND PAYMENTS
‘‘(A) IN GENERAL
.—From the amounts in the Carbon Dividend Trust Fund made avail-able under paragraphs (1) and (2) of this sub-section for any year, the Secretary shall for each month beginning more than 270 days after the date of the enactment of the Energy Inno-
vation and Carbon Dividend Act of 2018, make carbon dividend payments to each eligible individual.
'‘(B) PRO-RATA SHARE
.—A carbon dividend payment is one pro-rata share for each adult, and half a pro-rata share for each child under 19 years old, of amounts available for the month in the Carbon Dividend Trust Fund.
‘‘(C) ELIGIBLE INDIVIDUAL
.—The term ‘eligible individual’ means, with respect to any month, any natural living person who has a valid Social Security number or taxpayer identification number and is a citizen or lawful resident of the United States (other than any individual who is a citizen of any possession of the United States and whose bona fide residence is outside of the United States). The Secretary is authorized to verify an individual’s eligibility to receive a carbon dividend payment.
‘‘(D) FEE TREATMENT OF PAYMENTS
.— Amounts paid under this subsection shall be includible in gross income.
‘‘(E) FEDERAL PROGRAMS AND FEDERAL ASSISTED PROGRAMS
.—The carbon dividend amount received by any individual shall not be taken into account as income and shall not be taken into account as resources for purposes of determining the eligibility of such individual or any other individual for benefits or assistance, or the amount or extent of benefits or assistance, under any Federal program or under any State or local program financed in whole or in part with Federal funds.
Now this thing shouldn't ever see the light of day. I'd be surprised if it passes the House even under Democrat control, but this is how they think. This is how much they want to control your life.
originally posted by: DBCowboy
a reply to: ketsuko
####ing assholes in DC.
Apologies for the language.
Greedy commie douche-twinkies.
Pathetic, moronic elitist asshat socialist fascist tards.
If I was too subtle, just PM me for how I really feel.
Democratize monetary policy to bring about public control of the money supply and credit creation. This means we'll nationalize the private bank-dominated Federal Reserve Banks and place them under a Monetary Authority within the Treasury Department.