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Energy Secretary Jennifer Granholm and Sen. John Hickenlooper (D-Colo.) during an Axios virtual event Tuesday sold the $1.2 trillion bipartisan infrastructure bill as a job creator that will bolster climate change resiliency, while making the U.S. more competitive on the global market.

Driving the news: The package's passage in November marked a victory for the Biden administration. It includes measures for investments for roads, bridges, waterways, among other items.

  • "People forget. I mean, already forget, that this is the most consequential climate bill ever," Hickenlooper told Axios.

What they're saying: Granholm, who has been traveling across the Northeast touting the benefits of the law, said she personally saw how it is being put to use at a new offshore wind site in Rhode Island.

  • "[T]hese turbines are so massive that they have to be built on site ... It means creating a whole industrial sector around the building of offshore wind turbines."

Hickenlooper said the bill will help boost climate resiliency efforts for extreme weather events in his home state of Colorado.

  • "There's almost $10 billion of money in the bipartisan infrastructure bill that is dealing with Western water issues," Hickenlooper said. "And that's drought, but it's also the condition and the quality of our water. I mean, everything from lead pipes going into people's homes and forest mitigation."

Granholm said the bill's investment in supply chains will boost U.S. competitiveness, citing battery packs as an example.

  • "The build back of that supply chain will make us both competitive and put people to work so that part of the president's agenda, he's tired of stuff being stamped made in other countries," Granholm said.

The bottom line: "One of the silver linings to being so far behind in our infrastructure investments as a country is that we have many projects in every state that are ready to go right, shovel ready," Hickenlooper said.

Go deeper

Extreme weather could get even worse in 2022

Illustration: Maura Losch/Axios

Scientists say there's reason to expect even more menacing extreme weather disasters in 2022, after a year in which extreme weather and climate events, from the Pacific Northwest heat wave to the Texas cold snap, affected us all.

Why it matters: Extreme weather events are the most tangible, expensive and often deadly ways in which we're experiencing global warming. This past year brought the uncomfortable realization that even scientists' worst-case scenarios don't fully capture what the climate system is already capable of.

Hope King, author of Closer
27 mins ago - Economy & Business

Peloton pumps its brakes

Data: FactSet; Chart: Axios Visuals

Peloton’s popularity is falling as swiftly as it shot up.

Why it matters: Not all pandemic habits stick around. Peloton's trajectory over the past two years exemplifies how challenging it's been for companies to gauge shifts in consumer demand — particularly in sectors heavily altered by the pandemic.

First look: Senators propose bill to ban corporate PACs

Sens. Jon Ossoff and Mark Kelly. Photos: Chip Somodevilla (left), Courtney Pedroza/Getty Images

Sens. Mark Kelly (D-Ariz.) and Jon Ossoff (D-Ga.) will soon propose a bill prohibiting for-profit corporations from establishing and managing political action committees, according to a copy of the legislation obtained by Axios.

Why it matters: The introduction of "The Ban Corporate PACs Act" comes amid heightened scrutiny on Capitol Hill regarding money in politics, including efforts to bar companies from influencing political campaigns and federal elections. It would likely face a court challenge and First Amendment concerns.

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