Definitions. 9901. Imposition of tax on combusted fossil fuel greenhouse gas emissions (a) In general There is hereby imposed a tax on fossil fuels produced within, or imported into, the United States. (b) Rate of tax (1) Greenhouse gases that would be released if the fossil fuel were combusted The tax imposed by subsection (a) shall be the applicable amount per ton of carbon dioxide equivalent of all greenhouse gases that would be released if the fossil fuel were combusted. (2) Applicable amount of carbon dioxide equivalent emissions For purposes of paragraph (1)— (A) For calendar year 2021, the term applicable amount means $30 per metric ton of carbon dioxide equivalent emissions. (B) For each calendar year after 2021, the term applicable amount means the sum of— (i) the applicable amount for the previous calendar, (ii) the sum of— (I) 5 percentage points, plus (II) a percentage increase in the previous year’s tax rate equal to the increase in the Consumer Price Index for the previous calendar year, plus (iii) the increase, if any, required by paragraph (3). (C) Consumer Price Index for any calendar year For purposes of subparagraph (B), the Consumer Price Index for the previous calendar year is the average of the Consumer Price Index for all-urban consumers published by the Department of Labor as of the close of the 12-month period ending on August 31 of such calendar year. For purposes of the preceding sentence, the revision of the Consumer Price Index which is most consistent with the Consumer Price Index for calendar year 1986 shall be used. (3) Adjustment based on emission levels (A) In general If, for calendar year 2023 and every second calendar year thereafter through calendar year 2031, the cumulative amount of emissions with respect to the calendar year reported under subparagraph (B) exceeds the cumulative amount of emissions specified for such calendar year in subparagraph (C), then the increase required by this paragraph for the calendar year beginning on the next January 1 following the