Name: Yellen says Biden is "fully supportive" of carbon pricing
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Yellen says Biden is "fully supportive" of carbon pricing

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Photo: Alex Wong/Getty ImagesJanet Yellen, President Biden's nominee to run the Treasury Department, has made clear to senators that her boss supports carbon pricing, but how that backing translates to policy is unknown. Driving the news: "I am fully supportive of effective carbon pricing and I know that the President is as well," Yellen to Senate Finance Committee members' questions published Thursday.What we don't know: What that "enforcement mechanism" might mean. Carbon pricing typically refers to taxes or emissions trading systems.Background: Yellen is on record supporting a that would tax emissions and then return revenues to the public. But carbon taxes have little political traction on Capitol Hill, and emissions trading systems are a heavy lift in Congress, too.The intrigue: There could be some avenues that don't require Congress (but would likely face litigation).What to watch: Yellen said she'll continue discussing her views with Biden and other people in the administration.In normal times, private equity would be nervous about Democratic Party control of both the White House and Congress. But in pandemic-consumed 2021, the industry seems sanguine.Driving the news: Industry executives and lobbyists paid very close attention to Treasury Secretary nominee Janet Yellen's confirmation hearings this week, and came away convinced that tax reform isn't on the near-term agenda.A PAC backing Sen. Susan Collins in her high-stakes reelection campaign received $150,000 from an entity linked to the wife of a defense contractor whose firm Collins helped land a federal contract, new public records show.Why it matters: The executive, Martin Kao of Honolulu, leaned heavily on his political connections to boost his business, federal prosecutors say in an ongoing criminal case against him. The donation linked to Kao was veiled until last week.Companies pulling back on political donations, particularly to members of Congress who voted against certifying President Biden's election win, could inadvertently push Republicans to embrace their party's rightward fringe.Why it matters: Scores of corporate PACs have paused, scaled back or entirely abandoned their political giving programs. While designed to distance those companies from events that coincided with this month's deadly siege on the U.S. Capitol, research suggests the moves could actually empower the far-right.

Photo: Alex Wong/Getty ImagesJanet Yellen, President Biden's nominee to run the Treasury Department, has made clear to senators that her boss supports carbon pricing, but how that backing translates to policy is unknown. Driving the news: "I am fully supportive of effective carbon pricing and I know that the President is as well," Yellen to Senate Finance Committee members' questions published Thursday.What we don't know: What that "enforcement mechanism" might mean. Carbon pricing typically refers to taxes or emissions trading systems.Background: Yellen is on record supporting a that would...

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Yellen says Biden is "fully supportive" of carbon pricing

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