Gridlock in Boston. Photo: Jessica Rinaldi/The Boston Globe via Getty Images

Four huge automakers — Ford, Honda, VW and BMW — said Thursday that they've struck a voluntary deal with California on vehicle emissions rules that they're hoping will form the basis for a nationwide agreement with the Trump administration.

Why it matters: It signals a break between the companies and the White House as the Trump administration pushes ahead with plans to weaken mileage and emissions standards.

  • The Trump administration is planning to freeze annual emissions standards increases in 2020, rather than letting them grow stricter as envisioned under Obama-era rules.
  • The EPA, as part of that plan, would seek to strip California's special permission under the Clean Air Act to set its own emissions standards that a number of other states follow.

Yes, but: While major automakers had backed efforts to weaken Obama-era rules they call too aggressive, they have also bristled at Trump's push to freeze them outright.

The big picture: According to Reuters, under the deal with California, "the stringency of the requirements would increase at a nationwide average annual rate of 3.7% annually starting in the 2022 model year through 2026, and 1% of that annual improvement could be covered by credits awarded for building electrified vehicles."

What they're saying: "These terms will provide our companies much-needed regulatory certainty by allowing us to meet both federal and state requirements with a single national fleet, avoiding a patchwork of regulations while continuing to ensure meaningful greenhouse gas emissions reductions," the four automakers said in a joint statement.

  • They added that the agreement is "available to all automakers."
  • Mary Nichols, California's top air quality official, told the Washington Post that she sees the deal as an "olive branch" to the Trump administration.

Go deeper: How California can meet its aggressive clean energy law

Go deeper

Senate advances Amy Coney Barrett nomination, setting up final confirmation vote

Photo: Xinhua/Ting Shen via Getty Images

The Senate voted 51-48 on Sunday to advance the Supreme Court nomination of Judge Amy Coney Barrett, setting up a final confirmation vote for Monday.

Why it matters: It's now virtually inevitable that the Senate will vote to confirm President Trump's third Supreme Court nominee before the election, which is just nine days away.

Felix Salmon, author of Capital
2 hours ago - Economy & Business

Wall Street is living up to its bad reputation

Illustration: Sarah Grillo/Axios

Recent headlines will have you convinced that Wall Street is hell-bent on living up to all of its stereotypes.

Driving the news: Goldman Sachs is the biggest and the boldest, paying more than $5 billion in fines in the wake of the 1MDB scandal, in which billions were stolen from the people of Malaysia.

2 hours ago - Health

Ex-FDA chief: Pence campaigning after COVID exposure puts others at risk

Former FDA commissioner Scott Gottlieb said "the short answer is yes" when asked whether Vice President Mike Pence is putting others at risk by continuing to campaign after several aides tested positive for COVID-19, stressing that the White House needs to be "very explicit about the risks that they're taking."

Why it matters: The New York Times reports that at least five members of Pence's inner circle, including his chief of staff Marc Short and outside adviser Marty Obst, have tested positive for the virus. Pence tested negative on Sunday morning, according to the VP's office, and he'll continue to travel for the final stretch of the 2020 campaign.