Transparency and Honesty in Energy Regulations Act

This legislation, known as the "Transparency and Honesty in Energy Regulations Act," aims to significantly alter how federal agencies evaluate environmental impacts and regulatory costs. Its primary purpose is to **prohibit** any federal agency from considering the **social cost of carbon**, **social cost of methane**, **social cost of nitrous oxide**, or any other greenhouse gas in their decision-making processes. This includes a broad range of agency activities, from regulatory impact analyses to the justification of new rules. The bill specifically defines these "social costs" by referencing various technical support documents and any other estimates of monetized damages associated with incremental greenhouse gas emissions. Federal agencies would be barred from using these metrics in any cost-benefit or cost-effectiveness analysis required by law or executive orders like 12866 and 13563. This prohibition extends to all rulemaking, the issuance of guidance, and any other agency action. Furthermore, the Act mandates that within 120 days of its enactment, each federal agency must submit a report to relevant Congressional committees. This report must detail all proposed and final rulemakings, guidance documents, and agency actions since January 2009 that have utilized the social cost of carbon or other greenhouse gases, particularly in cost-benefit analyses. The legislation seeks to remove these specific economic valuations of climate impacts from federal regulatory considerations.