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Photo: Scott Heins/Getty Images

Michael Bloomberg's presidential campaign unveiled plans this morning to cut carbon from transportation, the nation's biggest source of greenhouse gas emissions.

The big picture: It's the latest of several climate and energy plans from Bloomberg, including proposals this week around wildfires, climate resilience, and emissions from buildings.

Driving the news: Here are a few pillars of the wide-ranging plan...

  • Add a national zero-emissions vehicle standard — "so that, by 2035, 100% of new vehicles are pollution-free."
  • Expand availability of EV tax credits and a launch a "Clean Cars for All" program that provides rebates for low and moderate-income families to trade in older vehicles.
  • Develop new mileage and emissions requirements for heavy-duty vehicles so that 15% of new trucks and buses are "pollution free" by 2030. Create a voucher program to incentivize fleet owners to trade in old trucks and buses.
  • Make new federal investments in EV charging infrastructure, mass transit, high-speed rail, and make areas more bike- and walking-friendly. Plus, add new incentives for moving freight from highways onto electric railways.
  • Overhaul the current national ethanol mandate to become a low-carbon fuels standard, "requiring reductions in the carbon content and giving credit to both electric charging and biofuels."

Quick take: The plan is ambitious (though so are his rivals'), but major portions of it would require new action from Congress, notably tax code changes and big new investments.

Go deeper: Mike Bloomberg releases his first domestic climate plan

Go deeper

Felix Salmon, author of Capital
16 mins ago - Economy & Business

The places regulation does not reach

Illustration: Aïda Amer/Axios

Financial regulation is not exactly simple anywhere in the world. But one country stands out for the sheer amount of complexity and confusion in its regulatory regime — the U.S.

Why it matters: Important companies fall through the cracks, largely unregulated, while others contend with a vast array of regulatory bodies, none of which are remotely predictable.

Trump nominee Christopher Waller confirmed to Fed board

Christopher Waller at a Senate Banking hearing earlier this year. (Photo: Sarah Silbiger/Getty Images)

The Senate voted 48-47 on Thursday to confirm Trump nominee Christopher Waller to the Federal Reserve Board of Governors — filling one of the two vacant slots on the influential economic body.

Why it matters: It's one of the last marks left on the Fed board by Trump, who has nominated five of its six members.

1 hour ago - Economy & Business

Boeing gets huge 737 Max order from Ryanair, boosting hope for quick rebound

Ryanair low cost airline Boeing 737-800 aircraft as seen over the runway. Photo by Nik Oiko/SOPA Images/LightRocket via Getty Images

Dublin-based Ryanair said it would add 75 more planes to an existing order for Boeing's 737 Max airplanes, a giant vote of confidence as Boeing seeks to revive sales of its best-selling plane after a 20-month safety ban following two fatal crashes.

The big picture: Ryanair's big order, on the heels of breakthrough vaccine news, is also a promising sign that the devastated airline industry might recover from the global pandemic sooner than expected.

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