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Rep. Alexandria Ocasio-Cortez (D-N.Y.) said in a 60 Minutes interview scheduled to air Sunday that it may be necessary to impose tax rates as high as 70% on the wealthiest Americans in order to fund the climate change policies proposed in the Green New Deal.

The big picture: Ocasio-Cortez admitted this is an "ambitious" goal, and her spokesperson, Corbin Trent, told Axios she was referring to "more of a general, progressive taxation policy" than any concrete tax proposal. Progressive wealth taxes are likely dead-on-arrival in the Senate, where Republicans control the agenda.

Between the lines: The backers of the Green New Deal generally support the idea that taxation instruments alone cannot fund all the goals of the deal. Ocasio-Cortez herself said she thinks raising taxes are just one "element" of funding climate change policies.

Go deeper: Democrats debate how to face "the existential threat of our time"

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Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 12 p.m. ET: 10,920,457 — Total deaths: 522,385 — Total recoveries — 5,789,032Map.
  2. U.S.: Total confirmed cases as of 12 p.m. ET: 2,753,754 — Total deaths: 128,871 — Total recoveries: 781,970 — Total tested: 33,462,181Map.
  3. Public health: The states where face coverings are mandatory Fauci says it has been a "very disturbing week" for the spread of the coronavirus in the U.S.
  4. Business: Top business leaders urge the White House to develop mandatory mask guidelines.
  5. Economy: The economy may recover just quickly enough to kill political interest in more stimulus.
  6. States: Florida reports more than 10,000 new coronavirus cases, and its most-infected county issues curfew.
2 hours ago - Sports

Washington Redskins to review team name amid public pressure

Photo: Patrick McDermott/Getty Images

The Washington Redskins have announced they will be conducting a review of the team's name after mounting pressure from the public and corporate sponsors.

Why it matters: This review is the first formal step the Redskins are taking since the debate surrounding the name first began. It comes after weeks of discussions between the team and the NFL, the team said.

Scoop: Instacart raises another $100 million

Illustration: Sarah Grillo/Axios Visuals

Grocery delivery company Instacart has raised $100 million in new funding, on top of the $225 million it announced last month, the company tells Axios. This brings its valuation to $13.8 billion.

Why it matters: This funding comes at what could be an inflection point for Instacart, as customers it acquired during coronavirus lockdowns decide whether they want to continue with the service or resume in-person grocery shopping.