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Illustration: Sam Jayne / Axios

Steve Bannon is stepping down as executive chairman of Breitbart News. SiriusXM has now also cancelled his radio show, as "the agreement is with Breitbart."

The big picture: Trump got his scalp. He forced everyone inside and close to the White House to make a binary choice: “it’s me or Steve.” For everyone, including some of Bannon’s close allies, it was an easy choice. Almost everyone abandoned Bannon.

Between the lines:

  • This was the Mercer’s forcing his hand. It wasn’t just Bannon’s quotes to Wolff but how he mishandled the fallout. He took five days to issue a weak apology, which fell flat.
  • Right up until today Steve was telling associates everything was going to be fine (but he always does that when he’s under the gun.) But his associates knew this was coming. The Mercers had turned against him months ago. 
  • Per source close to the White House: “God, I can’t believe the whole movement just collapsed on this guy. He’s done.”
  • Per a former WH ally of Bannon’s: “I’ve gone from being sympathetic to Steve to believing he’s a genuinely bad guy, totally duplicitous. It’s a shame. He has a lot of talent. But his self-destructive streak is unlike anything I’ve ever seen.”

Go deeper:

From Breitbart's statement:

  • Bannon said, “I’m proud of what the Breitbart team has accomplished in so short a period of time in building out a world-class news platform.”
  • According to Breitbart CEO Larry Solov, “Steve is a valued part of our legacy, and we will always be grateful for his contributions, and what he has helped us to accomplish.”

Go deeper

"Atmospheric river" swings Northern California from drought to flood

Satellite view of the bomb cyclone swirling off the coast of the Pacific Northwest and the atmospheric river affecting California on Oct. 24. Photo: CIRA/RAMMB

A series of powerful "atmospheric river" storms are delivering historic amounts of rainfall across parts of drought-stricken California and the Pacific Northwest — triggering widespread power outages and flooding.

Why it matters: The strong atmospheric river, packing large amounts of moisture, is causing Northern California to whiplash from drought to flood.

“You blew it”: GOP activist turns on corporations over vaccine mandates

The chairman of the American Conservative Union said on "Axios on HBO" he accepts "Joe Biden is my president, and I want him to succeed," but predicted Republicans retake the House and Senate in 2022 — with greater than 50% odds Donald Trump runs in 2024.

The big picture: In a joint interview with his wife, Mercedes, Matt Schlapp also refused to share their vaccination status. And he told corporate America "you blew it" by embracing vaccine mandates and liberal social stances that have alienated GOP voters and politicians.

3 hours ago - Politics & Policy

Pelosi expects “billionaire’s tax” to pay for Biden social spending

Photo: Yasin Ozturk/Anadolu Agency via Getty Images

House Speaker Nancy Pelosi (D-Calif.) said Sunday she expects the chamber to pass the bipartisan infrastructure plan by week’s end, and alternatives to corporate tax hikes and a “billionaires tax” will be used to finance President Biden’s promised expansion to the social safety net.

Why it matters: Pelosi’s comments come as House and Senate leaders try to wrap up a deal. What will get cut — and how the remainder will be paid — are linchpins to a final agreement.

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