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This bill establishes a federal cap-and-trade system for greenhouse gas emissions by requiring covered entities (producers and importers of fossil fuels) to purchase carbon permits at quarterly auctions. The number of permits issued annually decreases according to a schedule, reducing emissions 15% below 2015 levels by 2025 and reaching 90% reduction by 2050. Revenue from permit sales is distributed to eligible individuals as "Healthy Climate Dividends," with additional provisions for border adjustments on imports and support for frontline communities disproportionately affected by fossil fuel pollution.
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