Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. 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 Axios Closer 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!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

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 Axios Sports. 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 Axios Des Moines

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 Axios Tampa Bay

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!

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!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Susan Collins. Photo: Kevin Dietsch/Getty Images

Sen. Susan Collins (R-Maine) told Sunday's "Face the Nation" that the new tentative infrastructure deal from a group of bipartisan senators will not include a gas tax hike or any reversal of former President Donald Trump’s 2017 tax reform bill.

Why it matters: The group of 10 senators announced the success of their infrastructure negotiations on Thursday, but did not elaborate on how the bill would be paid for except to say it would "not include tax increases."

The big picture: Collins, one of the 10 senators involved in the deal's drafting, gave additional details about the three ways in which the the agreement would be paid.

  • Collins said that there should be a repurposing of unused COVID-19 relief funds for infrastructure projects.
  • Another funding avenue would be the creation of an infrastructure financing authority, which she described as "very similar to the state revolving funds that we used for sewer and water projects."
  • The deal, though it wouldn't include a gas tax increase, would also include a provision to tax electric cars to ensure they pay for their "fair share of of using our roads and bridges," she said.

What she's saying: "There won't be a debt — a gas tax increase, and we won't be undoing the 2017 tax reform bill," Collins said.

  • Collins added she had spoken to senators who are "enthusiastic about the prospect" of repurposing COVID relief funds.
  • "Right now, they are literally free riders because they're not paying any gas tax," she said of electric vehicle owners.

Go deeper

Sep 16, 2021 - Economy & Business

New tolling systems are poised to hit highways

Illustration: Aïda Amer/Axios

Electric vehicles might be good for the environment, but they're terrible for state budgets, which depend on fuel taxes to pay for road maintenance. So states like Oregon and Utah are experimenting with new road user fees — known as "vehicle mileage taxes" or VMTs — that reflect changing mobility trends.

Why it matters: By charging drivers for the miles they drive — instead of taxing the gas they use — states can ensure that everyone pays their fair share for public roads. But some drivers might wind up paying more than they do now, and the preliminary technology involved is raising privacy concerns.

Ben Geman, author of Generate
Sep 16, 2021 - Energy & Environment

First look: Greens seek K Street wedge on climate

Illustration: Sarah Grillo/Axios

Environmentalists are pressing big companies with lofty climate goals to split with their lobbying associations over sweeping Democratic legislation that includes major new clean energy spending and tax incentives.

Driving the news: A suite of climate groups just released an open letter to two dozen companies — including Apple, Walmart, Coca-Cola and Amazon — in the Business Roundtable, which has voiced several concerns about Democrats' wider spending and tax package.

Sep 16, 2021 - Politics & Policy

The debt ceiling stare down

Illustration: Aïda Amer/Axios

Congress is fast approaching its deadline to raise the debt ceiling or risk defaulting on the nation's debt, and, as of now, there's no serious plan to stave off what many members are calling the worst-case scenario.

Why it matters: The U.S. has never defaulted on its debt. If Congress doesn't take "extraordinary measures" to finance the government, it would "likely cause irreparable damage to the U.S. economy and global financial markets," Treasury Secretary Janet Yellen warned last week.