Protecting America's Economy from the Carbon Bubble Act of 2023

S 5592, the *Protecting America's Economy from the Carbon Bubble Act of 2023*, prohibits financial companies (including banks, investment firms, and related entities) from facilitating new fossil fuel production. Specifically, it bans loans, investments, or financial activities supporting projects exceeding existing proven fossil fuel reserves or new infrastructure like pipelines and power plants. Financial institutions must implement compliance programs and face penalties - including criminal charges, employment bans, and fines up to $5 million per day - for violations. The bill directly affects how banks and investors finance fossil fuel projects, aiming to restrict capital flow into new extraction beyond current reserves.