The article revisits the social cost of carbon (SCC), a critical concept in climate change policy, which represents the economic cost of an additional ton of carbon dioxide emissions. The study presents updated estimates of the SCC based on a revised DICE model (Dynamic Integrated model of Climate and the Economy). The estimated SCC is $31 per ton of CO₂ in 2010 US dollars for the current period (2015), with a central case of a 3% annual real growth rate to 2050. The paper compares these estimates with those from other sources and highlights significant increases in the SCC due to revisions in the carbon cycle and economic activity assumptions. The study emphasizes the importance of refining the research base for climate science and economics to better estimate the SCC, which has been used in federal regulations with over $1 trillion in benefits.The article revisits the social cost of carbon (SCC), a critical concept in climate change policy, which represents the economic cost of an additional ton of carbon dioxide emissions. The study presents updated estimates of the SCC based on a revised DICE model (Dynamic Integrated model of Climate and the Economy). The estimated SCC is $31 per ton of CO₂ in 2010 US dollars for the current period (2015), with a central case of a 3% annual real growth rate to 2050. The paper compares these estimates with those from other sources and highlights significant increases in the SCC due to revisions in the carbon cycle and economic activity assumptions. The study emphasizes the importance of refining the research base for climate science and economics to better estimate the SCC, which has been used in federal regulations with over $1 trillion in benefits.