Senate Democrats Back Biden Administration's Governmentwide Social Cost of Carbon Directive

Press Release

"This is a very big deal. The Biden Administration's decision will put the full weight of federal government decisions into fighting climate change -- a solution I've been encouraging for many years. The International Monetary Fund has calculated the American government subsidy for Big Oil at $760 billion per year, none of which reflects the harm and damage the industry's products do to the planet. Under President Biden's leadership, America is fighting back on behalf of taxpayers and will begin factoring the true costs of carbon pollution into a wide array of government actions, cutting back on taxpayers' bills for climate-related disasters over the long term. The biggest private sector companies have been doing this for years because it makes good economic sense. By incorporating the social cost of carbon into procurement calculations, today's action will result in economies of scale for clean energy and low-emission products, bringing down prices for consumers."

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