Nov 2, 2017

Rubio: House child tax credit not enough for middle class families

Photo: Pablo Martinez Monsivais / AP

The House's newly released tax reform calls for the Child Tax Credit to be expanded from $1,000 to $1,600 per child, which some Republican lawmakers have said isn't enough. Sen. Marco Rubio tweeted this morning, "House #TaxReform plan is only starting point.But $600 #ChildTaxCredit increase doesn't achieve our & @potus goal of helping working families."

Why it matters: Let the tax fight begin. This is the first serious knock on the tax bill of many that are sure to come. Sen. Rubio, Sen. Mike Lee and Ivanka Trump have been pushing for a $2,000 child tax credit, and Rubio told reporters last month that an $1,800 credit would result in all middle class families only breaking even.

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Premier League players launch fund to help U.K. medical workers

Illustration: Aïda Amer/Axios

Premier League players have launched an initiative called #PlayersTogether, which will funnel part of their salaries to the National Health Service to support the U.K.'s front-line workers during the coronavirus crisis.

Why it matters: This decision came at the conclusion of a protracted argument between players, clubs and even government officials over who should bear the brunt of lost revenue in the midst of the pandemic.

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GOP sees more hurdles for Trump as coronavirus crisis drags on

Photo: Alex Wong/Getty Images

Republicans are increasingly concerned not only about President Trump’s daily briefings but also his broader plan to ease the nation out of the virus crisis and back to work. This concern is acute — and spreading. 

Why it matters: Trump can easily address the briefing worries by doing fewer, but the lackluster bounce-back planning is what worries Republicans most. 

Pandemic forces startups to shift gears

Illustration: Eniola Odetunde/Axios

Spaces CEO Brad Herman had an early warning about COVID-19 because his startup supplies VR attractions to a number of theme parks in China. Realizing that the business he spent the last few years building was going to evaporate, Herman quickly found a new way to apply his team's know-how: helping companies host Zoom teleconferences in VR.

Why it matters: Many startups are rethinking the viability of their core businesses in the wake of the coronavirus. Spaces' move is one of many such pivots likely to crop up in the coming months.