Bill > HR3042

This bill, titled the "Taking Hold of Regulations to Increase Vital Employment In Energy Act," prohibits any federal agency from using the "social cost of carbon" when evaluating the benefits of reducing carbon dioxide emissions in a "regulatory impact analysis," which is a study of the potential effects of a proposed regulation. This prohibition will remain in effect until a specific federal law is passed that explicitly authorizes such use. The bill defines the "social cost of carbon" as the estimated monetary damages caused by an increase in carbon dioxide emissions, referencing a specific technical document from 2013 and any future updates or similar estimates. Essentially, the bill aims to prevent agencies from considering the economic benefits of climate action in their regulatory assessments unless Congress specifically grants them permission to do so.