Matt Rourke / AP

Background: House Speaker Paul Ryan thinks the only way he can pay for massive tax cuts is through a $1.2 trillion revenue plan known as "border adjustment" that raises taxes on imports and lowers them on exports.

Fighting for border adjustment: The "American Made Coalition," a coalition of more than 25 American businesses. GE is playing a leading role and hosted coalition partners at its D.C. offices recently. Boeing is another big player on this side of the fight. Other industries include manufacturing, high tech, software, medical device production, agriculture, energy production, biopharmaceuticals and information services.

Oh, and Paul Ryan, House GOP leadership, Trump's chief strategist Steve Bannon and (maybe) a lukewarm President Trump.

Fighting against border adjustment: "Americans for Affordable Products." As the AP reports: "More than 100 retailers including Wal-Mart and Target as well as key trade associations are launching a new coalition" aimed at fighting border adjustment. The coalition includes The National Retail Federation, along with the American International Automobile Dealers Association, the National Grocers Association. Walmart is a major hitter in this group and the well-funded Koch network will be supporting the opposition to border adjustment.

Why this matters: It's the biggest fight of the tax season. But, as we have reported, Ryan has his work cut out for him. Especially in the Senate.

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Winter coronavirus threat spurs new surge of startup activity

Illustration: Sarah Grillo/Axios

U.S. coronavirus cases and hospitalizations are surging, with cold weather arriving before even the best-case scenario for a widely distributed vaccine. Now we're also beginning to see an increase in coronavirus-related startup funding, focused on both testing and pharma.

Driving the news: Gauss, a Silicon Valley computer vision startup focused on health care, tells Axios that it's raised $10 million to accelerate development and commercialization of an at-home rapid antigen test for COVID-19.

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Illustration: Sarah Grillo/Axios

  1. Politics: Axios-Ipsos poll: Federal response has only gotten worse — The swing states where the pandemic is raging.
  2. Health: The coronavirus is starting to crush some hospitals — 13 states set single-day case records last week.
  3. Business: Winter coronavirus threat spurs new surge of startup activity.
  4. Media: Pandemic causes cable and satellite TV providers to lose the most subscribers ever.
  5. States: Nearly two dozen Minnesota COVID cases traced to 3 Trump campaign events.
  6. World: Unrest in Italy as restrictions grow across Europe.

Ted Cruz defends GOP's expected return to prioritizing national debt

Sen. Ted Cruz (R-Texas) told "Axios on HBO" on Monday that he wishes reining in the national debt was a higher priority for President Trump.

Why it matters: Trump pledged during the 2016 campaign to reduce the national debt and eliminate it entirely within eight years, though he also deemed himself "the king of debt" and said there were some priorities that required spending. In the fiscal year that ended in September, the deficit reached a record $3.1 trillion.

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