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President Trump with Senate Majority Leader Mitch McConnell. Photo: AP

We've learned that after months of frosty distance, President Trump picked up the phone yesterday and called Senate Majority Leader Mitch McConnell — ahead of a week when they absolutely have to work together on a budget, or risk losing tax reform.

Why it matters: Well-wired Republicans privately think chances for tax cuts are still pretty bleak. If Trump and McConnell are able to patch things up even temporarily, Republicans have a better chance at avoiding an embarrassing legislative shutout that could imperil their majorities.

  • The stakes: They need to get a budget done in the Senate this week. No budget, no tax reform. It's that simple.
  • Jonathan Swan hears that the two had a productive conversation on the agenda, and bonded over their joint effort to nominate and confirm conservative judges across the country.
  • Trump was upbeat and brought up a Kim Strassell column in The Wall Street Journal, "Scalias all the way down," giving the president credit for "remaking the federal judiciary."

I'm told the two speak behind the scenes more frequently than is leaked, with judges and tax reform as regular topics:

  • They also are said to trade intel such as whip counts.
  • That makes Trump's public and private slaps at McConnell seem even more bizarre, although it fits with the reality that much of what this president says is for show.
  • The two will have lunch at the White House tomorrow.

Be smart: This is a truce that both sides need — not a thaw, or a change in how they view each other. You can count on Trump to attack McConnell on Twitter again soon, and keep courting "Chuck and Nancy."

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Go deeper

10 mins ago - Health

The new vaccine threat is fear itself

Illustration: Sarah Grillo/Axios

The FDA’s decision to pause the use of Johnson & Johnson's coronavirus vaccine has set off a chain reaction of fear — about the safety of the vaccine, and about whether the FDA is overreacting — that's causing unnecessary drama just as the vaccine effort is finally picking up speed.

The big picture: Throughout the pandemic, the public and the media, and sometimes even regulators, have struggled to keep risks in perspective — to acknowledge them without exaggerating them, and to avoid downplaying them because other people will exaggerate them.

Cryptocurrency giant Coinbase heads to Wall Street

Illustration: Annelise Capossela/Axios

Coinbase, the country's largest cryptocurrency exchange, is expected to go public today at what could be a valuation north of $100 billion.

Why it matters: This gives crypto a Wall Street seal of legitimacy, after an early existence marred by ties to illicit goods.

In photos: St Vincent water supply running low as volcano eruptions continue

La Soufrière volcano erupting in Saint Vincent on April 9. Photo: Zen Punnett/AFP via Getty Images

There are "chronic water shortages" in St. Vincent and the Grenadines as La Soufrière volcano continues to explode, government spokesperson Sehon Marshall told a local radio station Tuesday.

The big picture: Up to 20,000 people have been evacuated from the Caribbean island's northern region since the volcano began erupting there last Friday, per AP. Over 3,000 evacuees are staying in more than 80 government shelters.

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