Biden to propose a return to Obama-era mileage standards

The Biden administration is on the cusp of floating draft auto emissions and mileage rules, per several reports.

Why it matters: Transportation is the largest source of U.S. carbon emissions, but auto rules have been in a complex regulatory, courtroom and lobbying seesaw for years.

• The Trump administration scaled back Obama-era mandates for model years into the mid-2020s, but now the pendulum is swinging back.

Driving the news: AP first reported on Tuesday that draft EPA and Transportation Department rules are expected as soon as next week.

• "The move ... resembles a 2019 pact between California and five automakers that mandates a 3.7 percent annual mileage increase through the 2026 model year," the Washington Post reports.
• The rules would then become more stringent in subsequent years, per various reports. But in the short term, they will "fall short of what environmental activists have called for," Bloomberg notes.