The Carbon Scoring Act of 2024 requires the Congressional Budget Office to develop the capability to analyze and report on how legislation affects greenhouse gas emissions. The bill directs the CBO to create economic models for different economic sectors starting with the power sector by 2025, followed by transportation by 2026, industry by 2028, and buildings by 2030. Whenever Congress considers major bills that involve energy, fuel, or emissions policies with significant budget impacts of at least $500 million annually, the CBO must provide estimates of the bill's effects on greenhouse gas emissions and calculate the monetary climate costs or savings using established social cost values. The bill appropriates $20 million annually from 2025 through 2034 to fund this new emissions-scoring function, with the CBO beginning annual reports on its emissions modeling capabilities by December 2025.
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