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Photo: Sean Gallup/Getty Images

France is aiming to lower carbon emissions by raising its pollution tax on large vehicles with a new law adopted by parliament earlier this week, Bloomberg reports.

By the numbers: Cars that emit carbon dioxide above a certain threshold will be subject to a 20,000 euro penalty — more than the current fine of 12,500 euros. France's finance ministry is projecting 50 million euros annually in revenue from the tax — those yields will be used to support automakers' shift to cleaner energy.

The government is meanwhile looking to incentivize the purchase of electric vehicles, per Bloomberg.

Between the lines: The new legislation comes as the European Union prepares to phase in new emissions standards that will fine automakers if their yearly sales exceed an average carbon limit.

The bottom line: "The measures show policy makers are still finding their way on how best to back a shift to cleaner cars," Bloomberg writes.

Our thought bubble: European regulations are tougher than the U.S., and they're coming much faster. This is why the French are enacting these measures, aimed at forcing the shift to electric vehicles.

  • If you give people an incentive to buy an EV and a disincentive to buy an SUV, you can really push the market quickly. Substituting one for the other may not make much of a difference.
  • Eventually, you should be able to take the EV incentives away, but not yet. The market is still in its infancy.

Go deeper: Electric vehicles are coming, but no one is sure how fast

Go deeper

In photos: D.C. and U.S. states on alert for pre-inauguration violence

National Guard troops stand behind security fencing with the dome of the U.S. Capitol Building behind them, on Jan. 16. Photo: Kent Nishimura / Los Angeles Times via Getty Images

Security has been stepped up in Washington, D.C., and state capitols across the U.S. as authorities brace for potential violence this weekend.

Driving the news: Following the Jan. 6 insurrection at the U.S. Capitol by some supporters of President Trump, the FBI has said there could be armed protests in D.C. and in all 50 state capitols in the run-up to President-elect Joe Biden's inauguration Wednesday.

The new Washington

Illustration: Sarah Grillo/Axios

The Axios subject-matter experts brief you on the incoming administration's plans and team.

Rep. Lou Correa tests positive for COVID-19

Lou Correa. Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images

Rep. Lou Correa (D-Calif.) announced on Saturday that he has tested positive for the coronavirus.

Why it matters: Correa is the latest Democratic lawmaker to share his positive test results after last week's deadly Capitol riot. Correa did not shelter in the designated safe zone with his congressional colleagues during the siege, per a spokesperson, instead staying outside to help Capitol Police.