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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Jan 21, 2021.
Responsible Climate Action and American Competitiveness Act
This bill requires the President to notify Congress at least 30 days before submitting to the other parties of the Paris Agreement the climate change-related actions the United States will take. (The agreement refers to these planned actions as nationally determined contributions.)
The notification to Congress must contain certain information including (1) a detailed economic justification of the planned actions, (2) a cost-benefit analysis of the actions, and (3) a description of how the actions will support U.S. efforts to counter the malign influence of the Chinese and Russian governments over energy supply chains.
The Paris Agreement requires each party to periodically submit its planned actions for addressing climate change, such as a plan to reduce its greenhouse gas emissions by a certain level.