EPA Restores California's Authority In Emission Standards

• The U.S. Environmental Protection Agency has restored California's authority to implement its own greenhouse gas (GHG) emission standards and zero-emission vehicle (ZEV) sales mandate. 
• The move is a reversal of the 2019 decision by former President Donald Trump.
• "With today's action, we reinstate an approach that for years has helped advance clean technologies and cut air pollution for people not just in California, but for the U.S. as a whole," said EPA Administrator Michael Regan.
• The EPA in December finalized new vehicle emissions rules restoring targets undone by Trump and requiring a 28.3% reduction in vehicle emissions through 2026, Reuters reported.
• Price Action: GM shares are trading lower by 1.14% at $41.80 in pre-market trading on Thursday.