The Treasury Department is signaling that it plans to offer more time for renewable power developers to qualify for tax credits as projects are disrupted by the coronavirus pandemic.

Why it matters: The industry is facing supply chain problems and other woes, leading to concern that a suite of projects will miss looming deadlines for incentives that are important for project finance.

What we don't know: Details. Treasury Secretary Steven Mnuchin, in a brief letter to Senate Finance Chairman Chuck Grassley, said the department "plans to modify the relevant rules in the near future."

  • Grassley is among a bipartisan group who recently pressed Mnuchin to extend what are known as "continuity safe harbor" provisions in existing guidelines.

What they're saying: The American Council on Renewable Energy, an industry trade group, said extending the deadlines would be "immensely" helpful.

  • "[T]he renewable sector has been hit hard these last couple of months by supply chain disruptions, shelter-in-place orders and other significant pandemic-related delays," the group said.

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6 mins ago - World

Trump announces new Iran sanctions in effort to maintain international arms embargo

Photo: Anna Moneymaker-Pool/Getty Images

President Trump signed an executive order on Monday that would impose sanctions on any person or entity that contributes to the supply, sale, or transfer of conventional arms to or from Iran or is engaged in providing training and financial support related to those weapons.

Why it matters: The executive order is the first step by the Trump administration to put teeth into its claim that international sanctions on Iran were restored over the weekend, one month after the U.S. initiated the "snapback" process under a United Nations Security Council resolution.

Exclusive: Conservative group launches $2M Supreme Court ad

Screengrab of ad, courtesy of Judicial Crisis Network.

The Judicial Crisis Network is launching a $2.2 million ad campaign to put pressure on vulnerable Senate Republicans in battleground states to support a quick confirmation when President Trump announces his Supreme Court nominee.

The big picture: "Follow Precedent," previewed by Axios, is one of the first national and cable television ads to run following Justice Ruth Bader Ginsberg's death Friday.

Updated 21 mins ago - Politics & Policy

CDC says it mistakenly published guidance about COVID-19 spreading through air

CDC Director Robert Redfield. Photo: Anna Moneymaker/Pool/Getty Images

The CDC has removed new guidance that acknowledged airborne transmission of the coronavirus, posting in a note on its website that the guidance was only a draft and had been published in error.

Why it matters: The initial update — which was little noticed until a CNN story was published Sunday — had come months after scientists pushed for the agency to acknowledge the disease was transmissible through the air. The CDC previously said that close person-to-person contact was the bigger concern, and the language has been changed back to erase the warning about airborne transmission.