The Carbon Dioxide Removal Leadership Act of 2024 requires the Secretary of Energy to purchase and remove carbon dioxide directly from the air and seawater in escalating amounts, starting with 50,000 metric tons annually in 2024-2025 and reaching 10 million metric tons annually by 2035 and beyond. The bill sets cost caps that decline over time, beginning at $750 per metric ton in the early years and dropping to $150 per metric ton by 2035, with the Secretary able to contract with private companies and projects to meet these targets. At least 20 percent of removal in the early years must come from small projects, and the bill prioritizes projects that create jobs, support innovation, and provide benefits to communities affected by fossil fuel industries and environmental justice areas. The Secretary must establish monitoring and verification standards within one year and report to Congress every two years on progress, with the bill authorizing whatever funding is necessary to carry out the program. The legislation also requires the Department of Energy to study long-term options for scaling up federal carbon removal efforts to remove a billion tons of carbon dioxide annually by 2050.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.