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Photo: Steve Pope/Getty Images

Billionaire Democratic activist and donor Tom Steyer is preparing to jump into the presidential race as soon as this week, reversing his January decision to stay out, according to several reports.

Why it matters: A well-funded Steyer run would likely include a heavy focus on climate change, though it would be broader.

The billionaire former hedge fund manager has expanded the scope of his work in recent years and now focuses on pushing for Trump's impeachment.

Where it stands: The Atlantic first reported the plan late Sunday night and cautioned that nothing with Steyer is definite until it's definite.

Behind the scenes: Per The Atlantic, Steyer is "frustrated" that Washington Gov. Jay Inslee's climate-focused campaign has not gotten more traction. He's around 1% in the polls.

But, but, but: The political opening for a relatively late-starting Steyer bid is quite uncertain.

  • And on the climate front in particular, it's not clear that emphasizing the topic would bring dividends to Steyer's bid.
  • Look what's happening with Inslee. He's certainly made the topic more prominent in the 2020 race — including his push for a climate-focused primary debate that's now supported by many candidates.
  • But Inslee himself has not been moving up in the polls, at least not yet.

Editor's note: This post was corrected to reflect that Tom Steyer is a former hedge fund manager.

Go deeper

Schumer's m(aj)ority checklist

Senate Minority Leader Chuck Schumer. Photo: Tasos Katopodis/Getty Images

Capitalizing on the Georgia runoffs, achieving a 50-50 Senate and launching an impeachment trial are weighty to-dos for getting Joe Biden's administration up and running on Day One.

What to watch: A blend of ceremonies, hearings and legal timelines will come into play on Tuesday and Wednesday so Chuck Schumer can actually claim the Senate majority and propel the new president's agenda.

The dark new reality in Congress

National Guard troops keep watch at security fencing. Photo: Kent Nishimura/Los Angeles Times via Getty Images

This is how bad things are for elected officials and others working in a post-insurrection Congress:

  • Rep. Norma Torres (D-Calif.) said she had a panic attack while grocery shopping back home.
  • Rep. Jim McGovern (D-Mass.) said police may also have to be at his constituent meetings.
  • Rep. Adam Kinzinger (R-Ill.) told a podcaster he brought a gun to his office on Capitol Hill on Jan. 6 because he anticipated trouble with the proceedings that day.
Off the Rails

Episode 3: Descent into madness ... Trump: "Sometimes you need a little crazy"

Photo illustration: Sarah Grillo/Axios. Photos: Tom Williams/CQ-Roll Call, Chip Somodevilla/Getty Images

Beginning on election night 2020 and continuing through his final days in office, Donald Trump unraveled and dragged America with him, to the point that his followers sacked the U.S. Capitol with two weeks left in his term. This Axios series takes you inside the collapse of a president.

Episode 3: The conspiracy goes too far. Trump's outside lawyers plot to seize voting machines and spin theories about communists, spies and computer software.

President Trump was sitting in the Oval Office one day in late November when a call came in from lawyer Sidney Powell. "Ugh, Sidney," he told the staff in the room before he picked up. "She's getting a little crazy, isn't she? She's really gotta tone it down. No one believes this stuff. It's just too much."