rate (a) Establishment The Secretary, with the concurrence of the Commissioner, shall promulgate regulations— (1) establishing the products which are liable for, and requiring payment of, the border tax adjustment rate, (2) establishing a general methodology for calculating the level of the border tax adjustment rate that a domestic importer of any covered good must submit and the rebate that an exporter will receive, (3) establishing an administrative process whereby any determination by the Secretary under this subsection may be appealed, (4) exempting from this section products that originate from— (A) any country that the United Nations has identified as among the least developed of developing countries, or (B) any country that the President has determined to be responsible for less than 0.5 percent of total global greenhouse gas emissions and less than 5 percent of global production in the eligible industrial sector, (5) specifying the procedures that the Commissioner will apply for the declaration and entry of covered goods with respect to the eligible industrial sector into the customs territory of the United States, and (6) establishing procedures that prevent circumvention of the carbon tax liability for covered goods that are manufactured or processed in more than one foreign country. (b) Presidential discretion The President may elect not to levy the border tax adjustment for an eligible industrial sector or for specific products within that sector if the President determines and certifies to Congress that the program would not be in the national interest, economic interest or environmental interest of the United States. . (b) Clerical amendment The table of subtitles for the Internal Revenue Code of 1986 is amended by adding at the end the following new item: Subtitle L. Greenhouse Gas Emissions. . (c) Effective date The amendments made by this section shall apply to emissions after December 31, 2019. II Distribution of Revenues From Taxation of Greenhouse Gas Emissions A Rebuilding Infrastructure