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Reproduced from Rhodium Group; Chart: Axios Visuals

A Rhodium Group analysis maps out legislative options it says would steeply cut power sector emissions without hiking consumer bills.

Why it matters: One of President Biden's more aggressive goals is 100% carbon-free U.S. power by 2035, but policy pathways to get there are murky.

The big picture: That chart above shows Rhodium's "investment scenario."

That's a model tax incentive package to accelerate renewables, retain existing nuclear and hydro generation, retire coal- and gas-fired plants, and retrofit remaining gas-fired plants with CO2 capture.

By the numbers: The scenario, which folds in some existing plans rattling around Congress, would curb power sector emissions by an estimated 66%-74% below 2005 levels by 2031.

  • Tack on some new federal regulations and the reductions are somewhat steeper.
  • Rhodium estimates that the legislative ideas would together about double the $10.5 billion in current federal clean-energy tax incentive costs.
  • "We estimate that the average net annual budget outlay from 2022-2031 is $14.9 (billion)-$20.3 billion depending on technology costs," the analysis notes, adding it doesn't capture other ideas like incentives for building high-voltage transmission.

The intrigue: The analysis says their plan fits under budget reconciliation — the Senate procedure that enables spending and tax provisions to move with a simple majority.

Go deeper

Biden's pick to lead major banking regulator drops out

Saule Omarova, nominee for Comptroller of the Currency, at a confirmation hearing on Nov. 18. Photo: Anna Moneymaker/Getty Images

President Biden's pick to head one of the country's most powerful banking regulators is dropping out of consideration for the post, according to a statement from Biden that accepted the withdrawal.

Why it matters: Saule Omarova, nominated to lead the Office of the Comptroller of the Currency, faced a tough path to confirmation — with opposition from Republicans and moderate Democrats.

Judge temporarily blocks Biden vaccine mandate for federal contractors

Photo: Chip Somodevilla via Getty Images

A federal judge on Tuesday temporarily blocked President Biden's vaccine mandate for federal contractors nationwide.

Why it matters: It's the latest setback in the Biden administration's rollout of COVID-19 vaccine requirements. Federal judges in two states temporarily barred the administration from enforcing mandates for millions of workers last week.

Biden threatens Putin

Photo: Kremlin Press Office/Handout/Anadolu Agency via Getty Images

In a video call that lasted for just over two hours on Tuesday, President Biden warned Russian President Vladimir Putin that if Russia invades Ukraine the U.S. will impose unprecedented sanctions and provide additional weaponry to the Ukrainians, national security adviser Jake Sullivan said.

Why it matters: Russia's military activity on the border with Ukraine has triggered alarms from the U.S. and its European allies of a potential large-scale Russian invasion in early 2022. Sullivan said Biden made clear to Putin that, "things we did not do in 2014, we are prepared to do now."