Feb 4, 2018

Durbin: DACA deal unlikely this week

Senate Minority Whip Sen. Dick Durbin (D-IL). Photo: Alex Wong/Getty Images

The number two Senate Democrat, Dick Durbin, said Sunday on CNN that he’s not expecting a deal to be reached by Thursday — when government funding expires — to protect young immigrants from deportation.

“There is not likely to be a DACA deal, though we’re working every single day on telephone calls and person to person, to try to reach this bipartisan agreement. ... I don’t see a government shutdown coming, but I do see a promise by Senator McConnell to finally bring this critical issue that affects the lives of hundreds of thousands of people in America, finally bringing it to a full debate. That’s what we were looking for when there was a shutdown. We’ve achieve that goal, we’re moving forward.”
— Durbin said on CNN’s ‘State of the Union.

The backdrop: A partisan standoff over a deal to protect nearly 800,000 young undocumented immigrants, who were brought to the U.S. as children, caused a partial government shutdown for three days last month.

  • Democrats later voted to end the shutdown after being assured by Republican Senate Majority Leader Mitch McConnell that he would introduce an immigration bill to address the issue. Lawmakers must pass another spending measure by Thursdayto keep the federal government open.

Go deeper: Shutdown watch is back

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SoftBank to cut its stake to get T-Mobile's Sprint deal done

Illustration: Rebecca Zisser/Axios

T-Mobile and Sprint announced a revised merger agreement that will see SoftBank getting a smaller share of the combined company, while most shareholders will receive the previously agreed upon exchange rate. The companies said they hope to get the deal as early as April 1.

Why it matters: The amended deal reflects the decline in Sprint's business, while leaving most shareholders' stake intact and removing another hurdle to the deal's closure.

Trump indulges Wall Street with Milken pardon

Photo Illustration: Sarah Grillo/Axios. Photo: Chris Graythen/Getty Images

Donald Trump loves Wall Street shenanigans. Companies owned by him have declared bankruptcy six different times, and he was once sued alongside Mike Milken for participating in a scheme to artificially inflate junk-bond prices.

Driving the news: Trump pardoned Milken this week, with an official statement positively gushing over Milken's role in developing the wilder side of fixed-income capital markets.