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This bill would prohibit federal agencies from using estimates of the "social cost of carbon," "social cost of methane," "social cost of nitrous oxide," and other greenhouse gas costs in their regulatory decisions, cost-benefit analyses, and policy guidance. These social cost estimates are calculations that attempt to quantify the economic damages caused by greenhouse gas emissions, and agencies currently use them to justify environmental regulations. The bill would apply this prohibition broadly across all federal agencies and all types of regulatory actions unless the estimates comply with specific Office of Management and Budget guidance. Within 120 days of the bill becoming law, each federal agency would be required to report to Congress detailing how many regulations, guidance documents, and policy decisions since 2009 have relied on these greenhouse gas cost estimates. The bill does not include any funding provisions or sunset dates, meaning the prohibition would remain in effect indefinitely if enacted.

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