Section 1 Short title
This Act may be cited as the “Taking Hold of Regulations to Increase Vital Employment In Energy Act”.
Taking Hold of Regulations to Increase Vital Employment In Energy Act
A BILL
To prohibit the use of the social cost of carbon in any regulatory impact analysis until a Federal law is enacted authorizing such use.
Sec. 2 Prohibition on use of social cost of carbon in analysis
In general— Notwithstanding any other provision of law or any executive order, no Federal agency may use the social cost of carbon in order to incorporate any social benefits of reducing carbon dioxide emissions in any regulatory impact analysis unless and until a Federal law is enacted authorizing such use.
Definition— In this section, the term social cost of carbon means the social cost of carbon as described in the technical support document entitled “Technical Support Document: Technical Update of the Social Cost of Carbon for Regulatory Impact Analysis Under Executive Order 12866”, published by the Interagency Working Group on Social Cost of Carbon, United States Government, in May 2013, or any successor or substantially related document, or any other estimate of the monetized damages associated with an incremental increase in carbon dioxide emissions in a given year.