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!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

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!

GOP Sen. Lindsey Graham and Democratic Sen. Sheldon Whitehouse are teaming up to "put a price on carbon." Photo: John Minchillo / AP

GOP Sen. Lindsey Graham announced at a climate change event at Yale Tuesday that he's working with Democratic Sen. Sheldon Whitehouse on legislation to "put a price on carbon." He didn't get into details, but Whitehouse has for years been pushing a carbon tax.

The big question: Whether Graham's announcement can lead to other sitting GOP senators coming out in support of pricing carbon in some fashion beyond the tiny circle that already has in years past.

In the Senate that's...

  • Graham himself, who worked with then-Sens. John Kerry and Joe Lieberman on a cap-and-trade plan in 2010 but ditched the talks, dooming any slim chance of passage.
  • John McCain, who co-sponsored cap-and-trade bills in the 2000s.
  • Susan Collins, who offered a carbon-capping bill with Democrat Maria Cantwell in late 2009.
  • Jeff Flake (sort of), who co-sponsored a carbon tax bill in 2009 as a House member, though he later walked away from the idea, suggesting it had been a tactical move to counter cap-and-trade legislation he opposed.

Why you'll hear about this again: The ecosystem of conservative and free-market groups trying to work with Republicans is larger and better organized than it used to be. A number of groups have emerged in recent times, such as the Niskanen Center and the Alliance for Market Solutions.

  • The highest profile has been the Climate Leadership Council, which launched earlier this year and is led by GOP elder statesmen including James Baker and Hank Paulson. The group is pushing a plan that, among other things, would create a carbon tax with the revenues returned to the public via dividend payments, while scuttling emissions regulations that the group says are no longer needed with the tax in place.
  • Indeed Graham's videotaped remarks to the Yale event were at a session where Baker was the speaker. Founding members of the group include oil-and-gas giants Exxon, Shell, BP and Total, as well other large corporations.

Reality check: I should have cleared the decks already by noting by there's probably zero chance of a carbon tax moving anytime in the next few years — especially under a GOP administration that's dismantling the regulations that may have helped to force tax-curious lawmakers to the table.

Yes, but: Graham's announcement shows the idea has a faint pulse. The question now is whether it gets any stronger. At an American Enterprise Institute event in July, Whitehouse said he and Democratic co-sponsor Brian Schatz have had discussions with six to 10 GOP lawmakers (scroll to the 24-minute mark of the video here).

  • Ted Halstead, the CLC's executive director, said there's a larger appetite among Capitol Hill Republicans to his group's idea than has been made public. He tells Axios: "Behind closed doors there's a lot of interest in what we are proposing."

Go deeper

Ben Geman, author of Generate
3 mins ago - Energy & Environment

Democrats' clean power outlook is very muddy

Illustration: Annelise Capossela/Axios

Here are two big questions as a key Democratic proposal to slash emissions from power generation flounders: how much its demise would sap climate protections, and what might replace it.

Catch up fast: New financial carrots and sticks for utilities to deploy zero-carbon power — the Clean Electricity Performance Program (CEPP) — look unlikely to stay in Democrats' big social spending and climate bill.

Colin Powell dies from COVID complications at 84

Photo: Paul Morigi/Getty Images for Capital Concerts

Colin Powell, the first Black U.S. secretary of state, died of complications from COVID-19, his family announced Monday. He was 84.

Driving the news: The Powell family said in a statement that he was fully vaccinated. "We want to thank the medical staff at Walter Reed National Medical Center for their caring treatment."

Mike Allen, author of AM
4 hours ago - Politics & Policy

GOP senator calls for senility test for aging leaders

Photo: "Axios on HBO"

Sen. Bill Cassidy (R-La.), a physician, told me during an "Axios on HBO" interview that he favors cognition tests for aging leaders of all three branches of government.

Why it matters: Wisdom comes with age. But science also shows that we lose something. And much of the world is now run by old people — including President Biden, 78 ... Speaker Pelosi, 81 ...  Senate Majority Leader Chuck Schumer, 70 ... and Senate Minority Leader Mitch McConnell, 79.