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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

47 mins ago - World

Netanyahu campaigns against Biden's plan to save Iran deal

Netanyahu campaigns at a gym last month. Photo: Pool/AFP via Getty

Israeli Prime Minister Benjamin Netanyahu indirectly criticized the Biden administration for its intention to return to the Iran nuclear deal and told his supporters he was prepared to "stand against the entire world" to stop it.

Why it matters: This is a major change of tune for Netanyahu, who had been careful in his statements on the Iran deal and avoided publicly criticizing President Biden. The statement was part of Netanyahu's attempt to rally his base ahead of Israel's election on March 23.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Tech: "Fludemic" model accurately maps COVID hotspotsVirtual doctor's visits and digital health tools take off.
  2. Politics: Schumer says Senate will stay through weekend to vote on COVID relief — Republican governor of West Virginia says there's no plan to lift mask mandate.
  3. World: Canada vaccine panel recommends 4 months between doses.
  4. Business: Firms develop new ways to inoculate the public.
  5. Local: Ultra-rich Florida community got vaccinations in January.
Dan Primack, author of Pro Rata
2 hours ago - Economy & Business

Why fears of a SPAC bubble may be overblown

Illustration: Annelise Capossela/Axios

The SPAC surge continues unabated, with 10 new ones formed since Wednesday morning. And that's OK.

Between the lines: There are growing concerns that retail investors are about to get rolled, with smart sponsors taking advantage of dumb money.