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Gary Cohn speaks with Axios' Mike Allen at a News Shaper event. Photo: Chuck Kennedy / Axios

Gary Cohn, Trump's Director of the National Economic Council, told Axios' Mike Allen at an Axios News Shapers event that he thinks the stock market highs are driven by economic growth, not the tax bill.

The big quote: "I think there's a lot more momentum in the stock market," Cohn said, pointing out that he thinks that "tax cuts are not priced in."

  • Cohn said he believes a continuing resolution will pass this week and send Congress home by the weekend, which would push the debate about a government shutdown to next year.
  • If he could change one thing about the tax bill, he says he would cut carried interest.
  • When withholding changes in February, Cohn says there will be "huge change" in perception.
  • "We didn't set out to give the wealthy a tax cut," Cohn said.
  • Cohn said virtually getting the GOP tax plan passed "is a historic achievement." Cohn added that he didn't know why the plan was so unpopular, noting, "we have clearly not communicated" the benefits.

Context: Cohn was speaking in anticipation of the House jumping through the final procedural hoop, voting on the bill a second time, today.

Go deeper

Kaine, Collins' censure resolution seeks to bar Trump from holding office again

Sen. Tim Kaine (center) and Sen. Susan Collins (right). Photo: Andrew Harnik/Pool via Getty Images

Sens. Tim Kaine (D-Va.) and Susan Collins (R-Maine) are forging ahead with a draft proposal to censure former President Trump, and are considering introducing the resolution on the Senate floor next week.

Why it matters: Senators are looking for a way to condemn Trump on the record as it becomes increasingly unlikely Democrats will obtain the 17 Republican votes needed to gain a conviction, Axios Alayna Treene writes. "I think it’s important for the Senate's leadership to understand that there are alternatives," Kaine told CNN on Wednesday.

Stark reminder for America's corporate leaders

Rosalind "Roz" Brewer is about to become only the second Black woman to permanently lead a Fortune 500 company. She starts as Walgreens CEO on March 15.

Why it matters: It's a stark reminder of how far corporate America's top decision-makers have to go during an unprecedented push by politicians, employees and even a stock exchange to diversify their top ranks.

Ina Fried, author of Login
Updated 3 hours ago - Technology

Apple's quarterly sales top $100 billion for first time

Credit: Apple

Spurred by strong sales of the latest iPhones, Apple reported it took in a record $111 billion in revenue for the three months ended Dec. 31, as the company crushed expectations.

Why it matters: The move showed even a pandemic didn't dull demand for Apple's latest smartphones.