Prohibits Federal agencies from considering the social cost of carbon, methane, nitrous oxide, or any other greenhouse gas in their actions.
Requires compliance with Office of Management and Budget guidance for any consideration of these social costs.
Defines key terms related to the social costs of greenhouse gases, including specific documents that outline these costs.
Specifies that the prohibition applies to cost-benefit analyses, rulemaking, guidance issuance, and other agency actions.
Mandates Federal agencies to report to Congress within 120 days of enactment on the use of social cost estimates in rulemakings and guidance since January 2009.