H.R. 480 proposes to amend the Internal Revenue Code of 1986 by creating a methane border adjustment mechanism. This mechanism would impose a tax on imported methane adjustment substances, like petroleum and natural gas, based on their production-related methane emissions....
Simple Explanation
H.R. 480 wants to put a special tax on stuff like oil and gas that the U.S. gets from other countries if making those things creates a lot of a gas called methane, and it hopes to work with other countries to do the same.