Carbon Scoring Act of 2024

The Carbon Scoring Act of 2024 requires the Congressional Budget Office (CBO) to develop new modeling capabilities to track greenhouse gas emissions across key sectors (power, transportation, industry, buildings) by specific deadlines, starting with power sector models by 2025. The CBO must publish annual reports on these models and an annual emissions baseline estimate starting in 2025, including projections for climate-related costs. For bills containing climate-related provisions (like emissions taxes or caps), the CBO must provide estimates of their emissions impact and climate cost savings or expenses, calculated using the "social cost" of greenhouse gases. This bill directly affects the CBO (which receives $20 million annually for this work) and lawmakers who will use these analyses when considering climate-focused legislation.