It sounds to me like your main concern is that this program really comes out to provide additional taxes, rather than taxes which get rebated back to consumers in a different form. To the extent to which this is the case, the program will have a difficult time getting public support.

You're absolutely correct about that.  I think people would respond to a program which allowed them to do well by doing good.  Dingell's scheme does not benefit the people paying the additional taxes, or give them any opportunity to do so.  This may play well with class-warriors, but the general public hasn't been in that kind of mood for a long time and repudiated that view in 1994.