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Illustration: Rebecca Zisser/Axios

A bipartisan handful of House members are introducing carbon tax legislation today after first floating it late last year.

Why it matters: While it’s very unlikely to become law in at least the next few years, it’s nonetheless a marker for efforts to move national carbon pricing beyond the think tank and advocacy world where it’s been for a decade and back into Congress.

The details: Florida Democrat Ted Deutch unveiled the bill with a few other Democrats and one Republican. The bill would impose an initial $15-per-ton carbon "fee" on fossil fuel producers, processors and importers that rises $10 annually.

  • All the revenues are returned to the public.
  • The plan would remove some but not all greenhouse gas regulations.
  • Rep. Francis Rooney (R.-Fla.), is the only Republican co-sponsor as of now. GOP Rep. Brian Fitzpatrick of Pennsylvania had signed onto last year’s bill, but he isn’t (yet anyway) a co-sponsor of this bill. A request for comment to his office wasn't immediately returned.

The big picture: After a near decade’s absence in Washington, debate over big climate and energy policies are emerging in Washington as Democrats take control of the House and the presidential campaign heats up.

  • Bipartisan efforts are emerging on a carbon tax, while progressive Democrats are rallying around the vague-but-popular Green New Deal, that calls for 100% renewable electricity within a decade and several other big policies aimed at transforming the economy while cutting emissions. (It could include a price on carbon, but that isn't its central component.)

Go deeper:

Go deeper

Reopening is expensive

Illustration: Brendan Lynch/Axios

Emerging from pandemic lockdown is shaping up to be pricey. Traveling, eating out and even refreshing your wardrobe costs more, per April inflation data out today.

Why it matters: The economy is reopening and suddenly Americans want in on the activities they've gone a year without. The data shows how much that sudden demand has helped push prices higher — at least for now.

Colonial Pipeline restarting service after hack

Photo: Bloomberg via Getty Images

Colonial Pipeline is restarting operations around 5 p.m. ET Wednesday, Energy Secretary Jennifer Granholm announced.

Why it matters: At least 11 states and Washington, D.C., have experienced gas shortages since a ransomware attack forced the critical pipeline running from Texas to New York to shut down on Saturday.

2 hours ago - Health

CDC panel endorses Pfizer vaccine for 12- to 15-year-olds

Illustration: Brendan Lynch/Axios

An advisory panel for the Centers for Disease Control and Prevention on Wednesday endorsed the Pfizer-BioNTech coronavirus vaccine for 12-to 15-year-olds, following the FDA's emergency use authorization.

Why it matters: Approval from the CDC panel was the final step needed before inoculations could be offered at any vaccination site for this age group.

  • Pfizer has said its vaccine is 100% effective at protecting against COVID-19 in a trial of more than 2,200 children between the ages of 12 and 15.