Smarter Purchasing Act This bill requires the Environmental Protection Agency (EPA) to conduct a study and report on whether it is feasible for agencies to factor in the shadow price of carbon in their internal decision-making processes for procurement, acquisitions, contracting, and other investments. The shadow price of carbon means the hypothetical surcharge to market prices for goods or services that involve significant carbon dioxide emissions in their supply chain. The EPA must make the final report available to the public.