Transparency and Honesty in Energy Regulations Act of 2024
Impact
If enacted, HB 9970 would significantly alter the way federal agencies evaluate environmental regulations and their economic impacts. By prohibiting the incorporation of social costs of greenhouse gases into current and future regulatory frameworks, the bill could lead to a potential underestimation of environmental damages in decision-making. Proponents argue that it would provide clarity and consistency, allowing agencies to operate without the ambiguity associated with social cost estimates that can vary widely. Critics express concern that this approach could undermine efforts to assess and mitigate climate-related impacts, ultimately hampering environmental protections.
Summary
House Bill 9970, known as the Transparency and Honesty in Energy Regulations Act of 2024, seeks to restrict federal agencies from considering the social costs of carbon, methane, and nitrous oxide in their regulatory processes. This includes limitations on using such costs in cost-benefit analyses, rulemaking, and other agency actions unless specified under Office of Management and Budget guidance. The bill reflects an ongoing debate over how the social costs of greenhouse gases should be quantified and considered in regulatory assessments.
Contention
The discussions surrounding HB 9970 suggest a sharp divide between supporters and opponents. Supporters, primarily from conservative factions, believe the bill would streamline federal regulatory processes by eliminating what they view as unnecessary and potentially misleading economic burdens. Conversely, opponents, including environmental groups and some progressive lawmakers, fear that excluding social cost considerations could lead to more environmentally damaging policies, potentially exacerbating the climate crisis. This contention highlights the broader national debate about the balance between economic growth and environmental stewardship.
Recognizing a health and safety emergency disproportionately affecting the fundamental rights of children due to the Trump administration's directives that unleash fossil fuels and greenhouse gas emissions that contribute to climate change, while suppressing climate change science.