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The Environmental Protection Agency issued a new rule today aimed at reducing tailpipe pollution from cars and light-duty trucks — an effort by President Joe Biden to return to the fuel economy standards put in place by Barack Obama nearly a decade ago.

Under the rule, passenger vehicles would be required to achieve an average of 55 miles of travel per gallon of gasoline (mpg) by 2026 — slightly over Obama’s goal of 54 mpg, but a major increase over the 38-mpg rule put in place by President Donald Trump. The EPA estimates the new standard would prevent the release of 3.1 billion tons of carbon dioxide through 2050 and will save car owners $420 billion in fuel costs.

EPA Administrator Michael Regan called it “the most ambitious vehicle…

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