Sign up for our daily briefing

Make your busy days simpler with the Axios AM and PM newsletters. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to the Axios Closer newsletter for insights into the day’s business news and trends and why they matter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios Pro Rata

Dive into the world of dealmakers across VC, PE and M&A with Axios Pro Rata. Delivered daily to your inbox by Dan Primack and Kia Kokalitcheva.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with the Axios Sports newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with the Axios Des Moines newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with the Axios Tampa Bay newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Austin news?

Get a daily digest of the most important stories affecting your hometown with the Axios Austin newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Atlanta news?

Get a daily digest of the most important stories affecting your hometown with the Axios Atlanta newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Philadelphia news?

Get a daily digest of the most important stories affecting your hometown with the Axios Philadelphia newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Chicago news?

Get a daily digest of the most important stories affecting your hometown with the Axios Chicago newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top DC news?

Get a daily digest of the most important stories affecting your hometown with the Axios DC newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Annelise Capossela/Axios

Capitol Hill infrastructure negotiations have taken on a complexity that matches their planetary and political stakes.

Driving the news: President Biden and a bipartisan Senate group yesterday unveiled the bare bones of an eight-year, $1.2 trillion infrastructure package that includes energy and transit provisions.

  • But its fate is tethered to a larger package, with bigger climate investments, that Democrats hope to write and move under the filibuster-proof reconciliation process.
  • "If this is the only thing that comes to me, I’m not signing it. It’s in tandem,” Biden said of the bipartisan plan.
  • House Speaker Nancy Pelosi similarly said the House would only act on it if Senate Democrats can move a reconciliation plan.

Why it matters: Fraught and intricate two-track negotiations will be needed to achieve anything close to the hundreds of billions of climate-related investments — and separate additional tax incentives — Biden first pitched in March.

The big picture: The bipartisan outline, per a White House summary, includes:

  • $73 billion for grid-related measures that would provide the "single largest investment in clean energy transmission in American history."
  • $15 billion for electric vehicle initiatives — including charging and bus electrification — and $49 billion for public transit.
  • $47 billion for "resiliency." That's vague but the White House calls it the largest investment in physical and natural resilience ever.

But, but, but: It omits massive chunks of Biden's and other Democrats' proposals, such as a "clean energy standard," Biden's $174 billion vehicle electrification goal, major spending on new efficient homes and more.

  • "Climate leaders in Congress should reject this deal unless it’s accompanied by a reconciliation bill with bold climate investments," Evergreen Action executive director Jamal Raad said.
  • Progressive lawmakers like Sen. Ed Markey (D-Mass.) have rallied around the "no climate, no deal" slogan.
  • But the challenge for Democrats is that reconciliation also needs to corral moderates while satisfying progressives demanding unprecedented climate investments.

What we're watching: What exactly the White House and Democrats want in energy portions of the reconciliation plans that would also have provisions on child care and other "family infrastructure."

  • For instance, Biden yesterday discussed $300 billion in tax incentives. He didn't get specific.
  • The White House has previously proposed new tax credits for transmission, extended renewable power credits and expanded EV purchase incentives.

A note from Capital Alpha Partners' James Lucier lays out the many hurdles for the bipartisan and Democrats-only efforts.

The big picture: One question, he notes, is whether Democrats can even agree among themselves on a top-line budget resolution that enables the subsequent reconciliation effort.

  • "We don’t think the House and Senate can pass the $6 trillion outline that Senate Budget Committee Chairman Bernie Sanders...has been floating," he notes.

And with respect to the bipartisan infrastructure framework, "Republican Senators are not going to be interested in a deal that assumes the rest of the president’s agenda moves on budget reconciliation."

Go deeper: Infrastructure's remaining potholes

Go deeper

Senate passes short-term highway funding extension

Senate Majority Leader Chuck Schumer walking through the Capitol building on Sept. 30.

The Senate passed a 30-day, short-term extension of federal highway programs on Saturday, sending the legislation to President Biden, who is expected to sign.

Why it matters: Roughly 3,700 Transportation Department employees were temporarily furloughed after Congress failed to reauthorize the programs because Republicans rejected the legislation on Friday.

The extreme weather risk-hedging industry

Photo illustration: Sarah Grillo/Axios. Photo: Win McNamee/Getty Images

For decades, companies have helped Wall Street, large retailers, major industries and other clients anticipate weather fluctuations, and the subsequent price and inventory volatility.

  • But the new era of extreme weather events has created a market for a different approach — and startups are filling it.

Federal judge blocks Biden's vaccine mandate for federal workers

President Biden speaking from Eisenhower Executive Office Building on Jan. 21. Photo: Yuri Gripas/Abaca/Bloomberg via Getty Images

A federal judge in Texas blocked the Biden administration from enforcing its coronavirus vaccine mandate for federal workers on Friday, citing the outcome of last week's Supreme Court ruling that nullified the administration's vaccine-or-test requirement for large employers.

Why it matters: It's a blow to President Biden's efforts to increase the U.S.' vaccination rates, though much of the federal workforce has already been vaccinated against the virus.