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Illustration: Rebecca Zisser/Axios

A new report has good news and bad news for anyone hoping that the U.S. can steeply cut greenhouse gas emissions in the coming decades.

Driving the news: The nonprofit Center for Climate and Energy Solutions has released a set of 3 pathways for how the U.S. could cut economy-wide emissions by 80% (relative to 2005 levels) by mid-century.

Why it matters: Right now, climate politics are unexpectedly hot, but federal policymaking is largely frozen. But that could change with the 2020 elections, and states are already a hotbed of activity.

  • The report is a detailed new addition to the world of scenario planning.
  • It involves input from a suite of companies, as well as collaboration with the RAND Corp. and the Joint Global Change Research Institute, a partnership between the Pacific Northwest National Laboratory and the University of Maryland.

The big picture: "Decarbonizing the U.S. economy requires fundamental shifts in the ways we generate energy, produce goods, deliver services, and manage lands," it states.

The intrigue: Here's the glass half-full (or empty) part. There are multiple ways to get there, and the report looks widely at not just federal actors, but also the contributions of state and local governments, corporate decisions, tech development and consumer preferences.

  • But 2 of the major pathways involve significant new federal policies — around carbon pricing and more — to varying degrees, which is obviously no certain thing.
  • The one that envisions the most aggressive federal role includes implementing an economy-wide CO2 price in 2024 starts at $40 per ton and rises 8% annually, tougher power and vehicle emissions rules, and substantially ramped up spending on low-CO2 tech R&D and deployment.

What's next: Reports on policy always force the question of what's actually feasible, which brings me to something else on my screen.

Over at Vox, David Roberts looks at how Democrats, if they gain the Senate and White House in 2020, might use the complicated process known as budget reconciliation to advance climate policy.

  • This could be key because legislation moved under reconciliation is immune from filibusters, and Democrats have essentially no chance of having a filibuster-proof majority even if they gain the upper chamber.
  • But Senate rules impose all kinds of constrains on what measures can be fit under the reconciliation umbrella.

Go deeper

23 mins ago - Technology

Exclusive: Facebook's blackout didn't dent political ad reach

Photo: Valera Golovniov/SOPA Images/LightRocket via Getty Images

Americans saw more political ads on Facebook in the week before the 2020 election than they did the prior week despite the company's blackout on new political ads during that period, according to Global Witness, a human rights group that espouses tech regulation.

Why it matters: The presidential election was a key stress test for Facebook and other leading online platforms looking to prove that they can curb misinformation. Critics contend measures like the ad blackout barely made a dent.

Wall Street wonders how bad it has to get

Illustration: Aïda Amer/Axios

Wall Street is working out how bad the economy will have to get for Congress to feel motivated to move on economic support.

Why it matters: A pre-Thanksgiving data dump showed more evidence of a floundering economic recovery. But the slow drip of crumbling economic data may not be enough to push Washington past a gridlock to halt the economic backslide.

2 hours ago - Health

Moderna to file for FDA emergency use authorization for COVID-19 vaccine

Photo illustration by STR/NurPhoto via Getty Images

Moderna announced that it plans to file with the FDA Monday for an emergency use authorization for its coronavirus vaccine, which the company said has an efficacy rate of 94.1%.

Why it matters: Moderna will become the second company to file for a vaccine EUA after Pfizer did the same earlier this month, potentially paving the way for the U.S. to have two COVID-19 vaccines in distribution by the end of the year. The company said its vaccine has a 100% efficacy rate against severe COVID cases.