Sponsor: Stark (D-CA)
Status: Assigned to Committee (February 17, 2011)
This bill makes numerous findings related to global health and climate issues, including that:
Amends Chapter 36 of the Internal Revenue Code of 1986 by adding a subchapter that imposes a tax on each currency transaction made by, or on behalf of, a U.S. person.
The Trust Fund will be used for contributions to the Green Climate Fund and the Adaptation Fund, established pursuant to the United Nations Framework Convention on Climate Change (UNFCCC).
It is the sense of Congress that these contributions will be in addition to (and not be a replacement for) other funding for global climate change adaptation and mitigation initiatives in developing countries.
Other sections establish a Child Care Assistance Trust Fund, a Multilateral Global Health Trust Fund, and provide for deficit reduction.
Introduced: February 17, 2011