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The EPA logo. Photo: Robert Alexander/Getty Images

The Environmental Protection Agency will propose a replacement regulation as soon as next week for President Obama's signature climate-change rule, reports Timothy Gardner of Reuters.

Why it matters: The rule's original goal was to cut carbon dioxide emissions from coal-fired power plants 32% by 2030 based on 2005 emission levels, and was the cornerstone of Obama's pledge in the Paris climate deal. President Trump's replacement has been anticipated for many months and is said to be less stringent and will grant states the ability to write their own individual regulations.

Between the lines: Per Axios' Amy Harder: Issuing a replacement rule, however less stringent than the original, is an important tacit acknowledgement by the Trump administration that legal precedent requires such a regulation and that the government has a responsibility to address climate change. This comes despite repeated comments by Trump officials, including Thursday by Interior Secretary Ryan Zinke, dismissing humans' role in rising temperatures.

Go deeper

Updated 3 hours ago - Politics & Policy

Omicron dashboard

Illustration: Shoshana Gordon/Axios

  1. Health: Axios-Ipsos poll: Omicron's big numbersAnother wave of death — FDA limits use of Regeneron and Lilly antibody treatments — Fauci: "Confident" Omicron cases will peak in February.
  2. Vaccines: Pfizer begins clinical trial for Omicron-specific vaccine — The shifting definition of fully vaccinated.
  3. Politics: Biden admin withdraws temporary vaccine-or-test mandate for large employers — New York Supreme Court strikes down Gov. Hochul's mask mandate for public areas — Sarah Palin tests positive, delaying defamation trial — Virginia school boards sue Gov. Youngkin for lifting mask mandate.
  4. World: U.K. to lift travel testing requirement for fully vaccinated — Beijing Olympic Committee lowers testing threshold ahead of Games.
  5. Variant tracker

The Robinhood M&A rumor mill churns

Illustration: Sarah Grillo/Axios

Robinhood's valuation is now just over $11 billion, a fraction of where it traded in August and below that of its last private round of funding. Cue the M&A mongers.

Why it matters: It's not just Robinhood—falling values of growth-oriented tech stocks have raised speculation that formerly high-flying fintechs could be snapped up by more well-capitalized buyers.

4 hours ago - Health

Student's death renews calls for schools to stock opioid overdose drug

Photo: Amy Davis/Baltimore Sun/Tribune News Service via Getty Images

A Connecticut student's death has renewed calls for schools to stock and administer naloxone, a drug that can quickly reverse the effects of an opioid overdose.

Why it matters: U.S. drug overdose fatalities reached six figures in a 12-month period for the first time in November, and synthetic or natural opioids were the cause of a majority of the overdoses.