Alan Rogers / The Casper Star-Tribune via AP

A group of former senior U.S. officials from past Republican administrations have called for a tax on carbon emissions to help fight climate change, per the Financial Times. The group — known as the Climate Leadership Council — is led by James Baker, former secretary of state for George H.W. Bush and Treasury secretary for Ronald Reagan; George P. Schultz, former secretary of state under Reagan; and Henry Paulson, former Treasury secretary under George W. Bush.

They are scheduled to meet with White House officials later today, including Vice President Mike Pence, Jared Kushner and Director of the National Economic Council Gary Cohn, to present their plan for addressing global warming. They argue the proposal — which would tax carbon emissions at $40 per ton, with all of the revenue recycled in dividends paid back to the public — will "embody the principles of free markets and limited government."

Why this matters: The proposal puts influential members of the GOP on the record as favoring action on climate change — a position that is not publicly supported by establishment Republicans, as most GOP members have promised a rollback of emissions regulations now that they have control of both houses of Congress and the White House.

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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.

Updated 47 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 10 a.m. ET: 10,902,347 — Total deaths: 521,940 — Total recoveries — 5,777,662Map.
  2. U.S.: Total confirmed cases as of 10 a.m. ET: 2,739,879 — Total deaths: 128,740 — Total recoveries: 781,970 — Total tested: 33,462,181Map.
  3. Public health: The states where face coverings are mandatory Regeneron stops trial after drug fails to help patientsWhat we know about the coronavirus immune response — 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. Politics: Herman Cain hospitalized for COVID-19 after attending Trump Tulsa rally — Biden downplays jobs number, rebukes Trump for ignoring health crisis.
  6. Economy: The economy may recover just quickly enough to kill political interest in more stimulus.
  7. States: Texas mandates face masks in public spaces Florida reports more than 10,000 new coronavirus cases, and its most-infected county issues curfew.

Markets swell as the economy shrinks

Illustration: Eniola Odetunde/Axios

The economy is sputtering, but the markets are thriving — a highly unusual event that shows how the coronavirus has thrown all bets off.

Why it matters: The disconnect adds to the wealth gap. The richest 10% of households — who own 84% of stocks — are getting richer, while millions of out-of-work Americans cross their fingers that pandemic unemployment benefits will be extended.