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Illustration: Sarah Grillo/Axios

Sen. Bernie Sanders (I-Vt.) and Rep. Alexandria Ocasio-Cortez (D-N.Y.) on Thursday unveiled a 10-year plan to spend up to $180 billion to decarbonize and overhaul the nation's public housing.

Why it matters: The lawmakers are calling the proposed bill the first attempt from Green New Deal sponsors to begin adding legislative details to the sweeping concept.

  • These aren't just random legislators: Sanders is a top-tier Democratic candidate for the White House, and Ocasio-Cortez is a popular and influential figure in progressive circles.
  • White House hopeful Sen. Elizabeth Warren, who at times has challenged former Vice President Joe Biden for the lead in the primary race, is a co-sponsor.

How it works: The far-reaching plan envisions grants for efficiency overhauls and renewable energy use; workforce development; improved water quality; construction of community and childcare centers; recycling; improved transportation access and more.

The big picture: It's very Green New Deal-y.

  • The plan combines big investments (beyond what's likely to pass), an aggressive timeline and a multi-topic focus that extends beyond climate into economic and social justice realms.
  • On that last point, it emphasizes housing rights and needs, job training, and a "sustainable safety net." Plus, it calls for tenant leadership and job production to play a role in the overhaul itself.

Go deeper:

Editor's note: This story has been updated to clarify the scope of the proposed legislation and that the plan would spend up to $180 billion.

Go deeper

Senate confirms retired Gen. Lloyd Austin as defense secretary

Photo: Greg Nash-Pool/Getty Images

The Senate voted 93-2 on Friday to confirm retired Gen. Lloyd Austin as secretary of defense. Sens. Mike Lee (R-Utah) and Josh Hawley (R-Mo.) were the sole "no" votes.

Why it matters: Austin is the first Black American to lead the Pentagon and President Biden's second Cabinet nominee to be confirmed.

House will transmit article of impeachment to Senate on Monday, Schumer says

Photo: Drew Angerer/Getty Images

Senate Majority Leader Chuck Schumer (D-N.Y.) announced that the House will deliver the article of impeachment against former President Trump for "incitement of insurrection" on Monday.

Why it matters: The Senate is required to begin the impeachment trial at 1pm the day after the article is transmitted.

Dan Primack, author of Pro Rata
2 hours ago - Politics & Policy

Private equity bets on delayed tax reform in Biden administration

Illustration: Brendan Lynch/Axios

In normal times, private equity would be nervous about Democratic Party control of both the White House and Congress. But in pandemic-consumed 2021, the industry seems sanguine.

Driving the news: Industry executives and lobbyists paid very close attention to Treasury Secretary nominee Janet Yellen's confirmation hearings this week, and came away convinced that tax reform isn't on the near-term agenda.