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Illustration: Annelise Capossela/Axios

The Alliance for Market Solutions, a group trying to get political traction for carbon taxes, is launching a new advocacy campaign that counts ExxonMobil and Dow among its backers.

Why it matters: It's the first corporate support for the group that's seeking to win support among conservative lawmakers. The alliance had for years relied only on individual contributions.

What they're saying: "ExxonMobil and Dow’s willingness to help our efforts by supporting AMS Action, our 501(c)(4), sends an important signal that corporate American wants Republicans to engage on climate policy," said Executive Director Alex Flint, a former Senate GOP energy aide, in an email announcing the new effort.

Yes, but: Carbon pricing in any form faces extraordinarily high political hurdles. Capitol Hill Republicans remain overwhelmingly opposed. Meanwhile, Democrats, while more open to pricing, have deemphasized it as a policy tool in recent years.

However, two K Street behemoths — the American Petroleum Institute and the U.S. Chamber of Commerce — have recently come around on the idea.

Go deeper

Ina Fried, author of Login
May 18, 2021 - Technology

Google and the GOP's push to restrict votes

Illustration: Sarah Grillo/Axios

Google is among several big U.S. companies criticized in a report Monday for taking part in an April meeting of Republican state leaders that focused on efforts to pass new restrictions on voting.

Why it matters: Google has publicly said it is opposed to bills that would make voting harder, but it's also trying to engage with both Democrats and Republicans and some of that latter group are working hard to pass such bills in a number of states.

41 mins ago - World

Putin denies Russia is behind cyberattacks ahead of Biden summit

In an exclusive interview with NBC's "Today," Russian President Vladimir Putin denied that Russia is waging cyber warfare against the United States and refused to guarantee opposition leader Alexei Navalny — whose name he would not say — will leave prison alive.

Why it matters: Cyberattacks by Russian intelligence and Russian-speaking criminal groups, as well as the Kremlin's attempted assassination and jailing of Navalny, are among the topics President Biden is expected to raise at his Geneva summit with Putin on Wednesday.

2 hours ago - Health

Novavax says COVID-19 vaccine was 90% effective in Phase 3 trial

Photo: Pavlo Gonchar/SOPA Images/LightRocket via Getty Images

Novavax, a Maryland biotechnology company, announced Monday that its COVID-19 vaccine was 90.4% effective in its Phase 3 trial, including against coronavirus variants.

Why it matters: The study of 29,960 participants in the U.S. and Mexico found the shot was safe and highly effective, paving the way for the FDA to clear a 4th vaccine for emergency use by the end of the year.