1. Short title This Act may be cited as the Smarter Purchasing Act . 2. Feasibility study regarding the use of the shadow price of carbon in Federal spending decisions to take into account the resulting carbon dioxide emissions (a) In general The Administrator of the Environmental Protection Agency, in consultation with the Secretary of Energy, the Secretary of the Interior, the Secretary of Transportation, and the Administrator of the General Services Administration, shall conduct a study to determine whether it is feasible for Federal agencies to factor in the shadow price of carbon in their internal decision-making processes for Federal procurement, acquisitions, contracting, and other investments. (b) Content The feasibility study required by subsection (a) shall include the following: (1) An assessment of— (A) the use of the shadow price of carbon in the private sector, in States, and in other countries, as relevant; and (B) the ability of Federal agencies to implement similar use of the shadow price of carbon. (2) An assessment of which kinds of Federal expenditures and operations are best suited for shadow pricing. (3) An assessment of whether the shadow price of carbon should be— (A) tied to the social cost of carbon that Federal agencies use to conduct regulatory analyses of economically significant regulatory actions; (B) tied to a path that minimizes the cost of achieving a long-term cumulative emissions goal; or (C) based on some other rationale. (4) An identification and evaluation of any statutory, regulatory, or other obstacle to the use of the shadow price of carbon. (c) Final report Not later than 1 year after the date of enactment of this Act, the Administrator of the Environmental Protection Agency shall— (1) prepare a final report on the results of the feasibility study conducted under subsection (a)