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Photo: Spencer Platt/Getty Images

Mike Bloomberg is ploughing an additional $20 million into this election cycle, flooding the airwaves in North Carolina, Texas and Arizona to promote down-ballot candidates who share his views on climate.

The big picture: Bloomberg's last-minute cash infusion comes on top of the $100 million he pledged last month to help Joe Biden win Florida.

Why it matters: With Democrats flush with cash at both the presidential and congressional level, Bloomberg is looking for returns further down the ballot, investing in races that are flying below the national radar.

  • "These may not be races that you’ve heard of, but they are where we thought we could make a difference," said Brynne Craig, the campaign manager for Bloomberg's Beyond Carbon Victory Fund.
  • "These offices play roles that could help each of their states combat climate change."

By the numbers: The group is putting nearly $8.5 million into TV, radio and digital advertising to support Democrat Yvonne Lewis Holley for lieutenant governor of North Carolina. 

  • In Arizona, Bloomberg's group is spending $6.3 million to win a majority on the Arizona Corporation Commission, which sets energy standards for the state.
  • In Texas, Bloomberg personally gave $2.5 million to Chrysta Castañeda’s campaign for the Texas Railroad Commission, which oversees everything from gas utilities to pipeline safety.
  • He's also personally giving $500,000 to the North Carolina Democratic Leadership Committee.

Go deeper

Cruz to object to certification of Arizona's Electoral College votes

Photo: David J. Griffin/Icon Sportswire

Sen. Ted Cruz (R-Texas) will object to the certification of Arizona's Electoral College votes on Wednesday, two sources familiar with his plans confirmed to Axios.

Why it matters: Cruz is one of 13 senators who have threatened to object to President-elect Biden's Electoral College victory. Arizona is at least the third state whose certification Republican lawmakers plan to challenge.

Dan Primack, author of Pro Rata
55 mins ago - Podcasts

Net neutrality on the line under Biden

Federal net neutrality rules are back on the table in the Biden administration, after being nixed by Trump, but now might be complicated by the debate over social media companies' behavior.

Axios Re:Cap digs into why net neutrality matters and what comes next with Nilay Patel, editor-in-chief of The Verge and host of the Decoder podcast.

House grants waiver for retired Gen. Lloyd Austin to lead Pentagon

Defense Secretary nominee Lloyd Austin Photo: Chip Somodevilla/Getty Images

The House voted 326-78 on Thursday to grant retired Gen. Lloyd Austin a waiver to lead the Pentagon, clearing the way for the Senate to confirm President Biden's nominee for defense secretary as early as this week.

Why it matters: Austin's nomination received pushback from some lawmakers, including Democrats, who cited a law that requires officers be out of the military for at least seven years before taking the job — a statute intended to reinforce the tradition of civilian control of the Pentagon.