Federal Carbon Dioxide Removal Leadership Act of 2024

This bill requires the U.S. Department of Energy to remove specific quantities of carbon dioxide from the atmosphere annually, starting at 50,000 metric tons in 2024 and scaling up to 10 million tons yearly by 2035. It establishes price caps for removal (ranging from $750 per ton in 2024 down to $150 per ton after 2035) and mandates that eligible technologies must remove CO2 directly from air or seawater without using natural photosynthesis or enhanced oil recovery. The bill requires rigorous monitoring, reporting, and verification of removals, prioritizes projects supporting job creation in fossil fuel communities and environmental justice, and mandates a study on scaling removal to gigaton levels by 2050. Federal agencies must report annual progress, including removal quantities, costs, and impacts on communities.