Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Senate Majority Leader Chuck Schumer and President Biden speak briefly to reporters as they arrive at the Capitol for a Senate Democratic luncheon, July 14. Photo: Drew Angerer/Getty Images

Included in the newly released outline of Senate Democrats' $3.5 trillion budget resolution are key details on which climate provisions made the cut.

Why it matters: The budget resolution sets the stage for consideration of a Democrats'-only measure to fund some of President Biden's key priorities, including some of the most far-reaching proposals yet enacted in the U.S. to tackle the climate crisis.

The intrigue: According to a summary from Senate Majority Leader Chuck Schumer's office, the resolution's top-line numbers will make room for a Civilian Climate Corps in the eventual reconciliation bill. This is a major priority for some environmental groups, including the Sunrise Movement.

Democrats also intend to include a Clean Electricity Standard (CES) in the reconciliation bill aimed at meeting Biden's goal of achieving 100% carbon-free power by 2035.

  • The CES they intend to incorporate into the reconciliation bill was written by Democratic Sen. Tina Smith of Minnesota, who co-authored a CES bill in 2019.
  • The White House initially proposed a CES as a way to decarbonize the electricity sector while allowing utilities the flexibility in choosing how to do so. Whether the CES could be included in a reconciliation package and have continued White House backing is unclear.
  • “Getting it included in the budget package sends a strong signal we are committed to tackling climate change. I will continue to work hard on getting a CES done because we cannot squander this moment. We can either lead or follow when it comes to the clean energy transition, and I want us to lead,” Smith said in a statement.

Details: The resolution also includes funding that Democrats intend to carve out for:

  • Clean energy and vehicle tax incentives, which go above and beyond what's included in the bipartisan infrastructure bill.
  • Agriculture, wildfire prevention and forestry.
  • Buying clean technologies for the federal government.
  • Making buildings more efficient.
  • Forming a clean energy accelerator to develop new technologies.

What we're watching: The resolution summary Democrats released includes a reference to "A new Methane Reduction and Polluter Import Fees to increase our emissions reductions," which could have trade implications. The outline has yet to be translated into legislative language.

Go deeper

Sep 24, 2021 - Health

Manchin: "We need to stabilize" Medicare before expanding

Sen. Joe Manchin. Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images

Sen. Joe Manchin (D-W.Va.) said Thursday that Democrats "need to stabilize" Medicare before expanding the program, The Hill reports.

Why it matters: Progressives are hoping to expand Medicare through a broad social spending bill, which Democratic senators have urged Manchin to support. Manchin's vote is critical in passing any Democratic bill in the 50-50 Senate.

Updated Sep 23, 2021 - Axios Events

Watch: A conversation on investing in advanced climate tech

On Thursday, September 23rd, Axios business editor Dan Primack and Axios Today host Niala Boodhoo explored how alternative energy investments toward climate solutions function in the private and public sector today, featuring Sen. Ron Wyden (D-Ore.) and Galvanize Climate Solutions co-founder Tom Steyer.

Sen. Ron Wyden explained his support for overhauling the existing tax code to incentivize companies to reduce their emissions, his belief that all Americans should pay their fair share of taxes, and Congressional efforts to increase electric vehicle usage.

  • On his support for modifying the tax code: “One of the little secrets about the tax code is that many billionaires pay little or no income taxes. The way they do that is they don’t take a wage, and so Americans have read all these stories about prominent billionaires paying virtually nothing in the way of income taxes for years and years on end. I don’t think that’s right.”
  • On the future trajectory of electric vehicles: “Getting a critical mass of these electric vehicles on the road is going to bring down costs. It’s going to be good for the environment, good for marketplace forces, and the American economy.”

Tom Steyer highlighted the importance of cleaning up electricity generation across the country, how the climate tech investment landscape has changed over the last decade, and what areas of climate tech he believes need more attention and investment.

  • On the future of the infrastructure and reconciliation bills: “I believe that the Democratic Party will come to a negotiated place which will include very important climate regulations, climate initiatives, and that specifically they will be encouraging the move to clean electricity generation across the United States during this decade.”
  • On the need for more tangible innovations in climate tech: “It’s going to be incredibly important for us too to do well in the businesses like manufacturing, where you can touch the product. We have dominated the kinds of businesses like software that you can’t touch.”

Axios co-founder and CEO Jim VandeHei hosted a View from the Top segment with HSBC’s Group Chief Sustainability Officer Celine Herweijer, who discussed how sustainability is moving to the forefront of many corporations’ long-term goals.

  • “We’ve committed to essentially have a net zero target across all of our finance commissions portfolio. So to be able to do that, that means fundamentally changing how we finance it, fundamentally changing our risk appetite, changing our culture, our policies, our processes of capability.”

Thank you HSBC for sponsoring this event.

Go deeper: Get smarter, faster on the growing field of climate tech with our free short course.

Everyone wants to be an influencer

Illustration: Aïda Amer/Axios

The number of people looking to become online influencers has exploded during the pandemic.

Why it matters: Almost anyone can find themselves in a position to become an influencer, and brands are throwing billions of dollars at online content creators.