The Federal Carbon Dioxide Removal Leadership Act of 2024 requires the Department of Energy to purchase and deploy technology that removes carbon dioxide directly from the air or seawater, starting with 50,000 metric tons annually in 2024-2025 and ramping up to 10 million metric tons yearly by 2035 and beyond. The bill sets cost limits for this carbon removal, ranging from a maximum of $750 per metric ton in the early years down to $150 per metric ton by 2035, and requires at least 20 percent of removal projects to be small-scale operations. The Department must establish monitoring and verification standards within one year, prioritize projects that create domestic jobs and support coal communities, and work only with removal technologies deployed after 2022 that permanently store the captured carbon. The legislation authorizes whatever funding is necessary to meet these goals and requires biennial reports to Congress on progress, costs, and environmental impacts.
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