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  • Improve the Social Cost of Carbon, Do Not Replace It

    • Peter Howard
    • Justin Gundlach

    Recently, the Biden Administration called for a review and possible updating of the SCC to ensure that it reflects the latest science. Some observers, including two prominent economists, Nicholas Stern of the London School of Economics and Political Science and Joseph E. Stiglitz of Columbia University, argue that the SCC is too flawed for use in policymaking. We think Stern and Stiglitz’s estimate is worth developing to indicate whether the SCC is compatible with reaching a two degrees Celsius goal, but not to supplant the SCC. 

  • Climate Change Is a Threat to Our Nation’s Financial Health

    • Sarah Ladin

    Climate change — already a well-known threat to our weather patterns, infrastructure, electric grids, health and safety — also presents a profound and growing threat to our financial system. Public and private sector economic experts must — and increasingly are starting to — take steps to protect against that threat, including at the highest levels of the federal government.

  • Biden’s Path Forward on the Social Cost of Carbon

    • Richard L. Revesz

    The Biden administration has reverted to an Obama-era method for calculating the social cost of greenhouse gases, which will be key in evaluating government actions affecting climate change. NYU Law Professor Richard L. Revesz examines the change and says some related actions, including updating the discount rate used to evaluate future consequences, need to happen in the coming months.

  • Balance of Power: The Social Cost of Carbon

    • Richard L. Revesz

    The cost of greenhouse gas emissions was calculated to be $1 per ton under the Trump administration. The Biden administration is increasing it to $51 per ton. Professor Richard Revesz explains what that could mean in practice and the rationale behind it (at 01:14:52).

  • Climate Policy Architecture in the U.S.

    • Jack Lienke
    • Jason A Schwartz

    In addition to the federal centers of power, state and local governments play major roles in shaping U.S. climate policy, as do business interests and other stakeholders, including community and non-governmental organizations. We provide more detail on the workings of the three federal centers of power with respect to climate policy, followed by short discussions of influence wielded by states and other stakeholders.

  • U.S. Domestic Climate Policy – Looking Back

    • Max Sarinsky

    The U.S. climate policy story has four important, interrelated dimensions: action at the federal level, action at the state level, policy innovation, and technical innovation. The federal story is one of legislative failure but some executive and innovation success, while the state story is one of variegated progress.

  • Rejecting the Trump Anticanon of Regulatory Mismanagement

    • Michael A. Livermore

    President Biden’s day-one presidential memorandum on "modernizing regulatory review" reasserts the importance of evidence, analysis, and expertise in regulatory decision-making. After a four-year long experiment in abandoning these norms of good governance, the Biden memorandum should comfort anyone who cares about cultivating a regulatory system that can improve the well-being of people in the United States.

  • A New Era for Regulatory Review

    • Richard L. Revesz

    On January 20, just hours after being sworn into office, President Joe Biden signed a presidential memorandum on modernizing regulatory review. This document embraces continuity on important components of the administrative state but, more importantly, it provides a significant blueprint for much-needed reform.

  • Censored Science, the CRA, and the End of Meta-Deregulation

    • Richard L. Revesz

    As the Biden administration seeks to undo the 'science transparency' rule, along with over 100 other environmental deregulatory actions undertaken by the Trump administration, it can now make use of the most powerful tool in the arsenal: the Congressional Review Act (CRA). Now that Democrats control the House and Senate, they can deploy the tool more effectively and proceed even without Republican votes.

  • Azar’s ‘Sunset Rule’ Will Bring a Dangerous New Dawn for Health Regulation

    • Jack Lienke

    The Department of Health and Human Services' insidious new policy, known as the Sunset Rule, commits it to reassessing the economic impacts of almost every one of the department’s existing regulations and establishes an extreme penalty for noncompliance: If a regulation is not reviewed by its 10th anniversary, it simply blinks out of existence. HHS claims the power to repeal thousands of rules at once without so much as explaining what they do, much less justifying the harm that could arise in their absence.