Jun 27, 2017

FedEx CEO proposes tax plan amid delayed WH action

Carolyn Kaster / AP

FedEx founder and CEO Fred Smith is pushing his own alternative tax plan as Washington remains divided over the tax plans proposed by Congress and the Trump administration, per Bloomberg.

"We at FedEx, like many major U.S. companies, are concerned the window for tax reform is closing," said Smith. "Our current federal tax system is simply not globally competitive, retarding investment and the high paying jobs that follow."

FedEx's proposal places greater emphasis on revenue-raising programs, such as increasing employer Medicare taxes and gasoline taxes to create more spending for infrastructure. It would also place restrictions on the tax cut available to high-income "pass-through" entities, and would eliminate the controversial border-adjusted tax.

Why it matters: The move reflects a major concern held by big businesses that tax reform isn't really coming any time soon, so they're acting on their own.

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The business of tear gas

Illustration: Eniola Odetunde/Axios

U.S. forces yesterday used tear gas on peaceful protesters outside the White House gates, prior to a declared curfew, clearing a path for President Trump to visit a riot-damaged church for a photo opportunity.

The state of play: Two of the largest U.S. producers of tear gas are owned by private equity firms, but those firms have no interest in discussing their ownership.

Exclusive: Washington Post makes major move into local news

People entering the Washington Post building in D.C. in 2019. Photo: Eric Baradat/AFP via Getty Images

The Washington Post has signed all 30 of McClatchy's local news outlets to its Zeus Performance product, a software that gives sites better speed, ad view-ability and performance, executives tell Axios.

Why it matters: By adding more local news outlets, The Post can start to build a local news ecosystem within its tech stack.

Biden: George Floyd's last words are "a wake-up call for our nation"

Former Vice President Joe Biden meets with clergy members and community activists during a visit to Bethel AME Church in Wilmington, Del. on June 1, 2020. Photo: JIM WATSON/AFP via Getty Images

Joe Biden will call George Floyd’s dying words “a wake-up call for our nation,” and criticize President Trump’s decision to unleash tear gas on peaceful protesters outside the White House, in a civil rights speech from Philadelphia on Tuesday.

Why it matters: Biden in the address will seek to draw a sharp contrast between himself and Trump, whose first remarks addressing nationwide unrest Monday highlighted law and order, extreme demonstrations of militarized “strength” and other blustery threats.