Sen. Orrin Hatch, R-Utah, speaks to reporters following the weekly Republican policy luncheon on Capitol Hill. Photo: Susan Walsh / AP

The Congressional Budget Office's analysis of the Senate GOP tax plan shows it would hurt Americans earning less than $30,000, The Washington Post reports, and it would hurt them more than originally thought. Republicans like Senate Finance Committee Chairman Orrin Hatch say the bill helps everyone, regardless of income.

The cause: Those earners would be getting less government aid for health care since the bill would get rid of the individual mandate from the Affordable Care Act, per the CBO.

The CBO also reports:

  • Those earning under $40,000 are all losing out with the tax bill.
  • The bill would add $1.4 trillion to the deficit over the next decade, just under the $1.5 trillion limit.
  • Health insurance premiums would rise, with 4 million Americans losing insurance by 2019, a number that spikes to 13 million by 2027.
  • When the Joint Committee on Taxation only takes into account the tax impacts of the Senate bill, all income groups receive a tax cut, although in 2027, after the individual tax cuts expire, that benefit goes away.

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U.S. policy shift will allow taxpayer funding for projects in West Bank settlements

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The U.S. and Israel will announce tomorrow that they are expanding three agreements on scientific cooperation to include Israeli settlements in the West Bank, Israeli and U.S. officials tell me.

Why it matters: This is a substantial policy shift for the U.S., which did not previously allow its taxpayers' money to be spent in the Israeli settlements.

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Illustration: Sarah Grillo/Axios

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  3. Business: Winter threat spurs new surge of startup activity.
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McConnell: Confirming Amy Coney Barrett will help GOP retain Senate

Photo: Samuel Corum/Getty Images

Senate Majority Leader Mitch McConnell (R-Ky.) expressed no regrets about Judge Amy Coney Barrett's controversial confirmation, telling Politico in an interview that he believes the decision to place her on the Supreme Court just a week before the election will help Republicans retain the Senate.

Why it matters: With a week to go until Election Day, many Republicans are concerned that President Trump's unpopularity could cost them the Senate. McConnell has long viewed the transformation of the federal judiciary through the confirmation of young conservative judges as his defining legacy.