Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Aïda Amer/Axios

Conservative groups are unveiling huge ad-buys going after vulnerable House Democrats over tax increases and other revenue measures in their party's massive infrastructure spending bill, Axios has learned.

Why it matters: President Biden and Democrats have an immense amount of political capital riding on a $3.5 trillion bill facing razor-thin margins in both chambers. Conservatives are running ads targeting the House members who leaders will need to pass the measure.

Driving the news: On Saturday, the Common Sense Leadership Fund, a new Republican-aligned nonprofit group, launched what it says will be a $10 million ad campaign over 10 days.

  • The ads hit 14 House Democrats over provisions that would change rules for retirement account contributions and distributions for high-income Americans.
  • "Washington liberals want to tax your retirement funds to pay for their new trillion-dollar power grab," one of the two ads says. The other says Democrats are "raiding your retirement to pay for their power grab."
  • The group is led by former National Republican Senatorial Committee executive director Kevin McLaughlin.

Another GOP-aligned nonprofit, the Coalition to Protect American Workers, is expanding an ad-buy that hits provisions to enhance IRS tax enforcement.

  • An "army of IRS agents" will be "coming for every dime they can grab," the group warns, with footage of drones and surveillance cameras, in an ad unveiled earlier this year.
  • The coalition, which is led by Marc Short, former Vice President Mike Pence's chief of staff, plans to expand its campaign into the seven figures and run two new 30-second spots, the group tells Axios.
  • It's hitting six Democrats — five in the House and one in the Senate — with the IRS ad and two others focused on other tax hikes in the bill and efforts to finance electric vehicle infrastructure. It says that will boost Chinese battery manufacturers.

Between the lines: Both groups are targeting moderate House Democrats who've expressed misgivings about the $3.5 trillion spending bill, including the new revenues that will be required to pay for it.

  • If the centrists balk at specifics — or the scope — of a bill with huge spending aimed at expanding the social safety net, the dual-track strategy the president is pursuing with congressional leaders could collapse.
  • Progressive are demanding the centrists support the $3.5 trillion, Democrat-only bill before the progressives vote to pass the $1.2 trillion bipartisan infrastructure package that's already passed the Senate.
  • The House centrists are convinced they have an agreement from House Speaker Nancy Pelosi (D-Calif.) to vote on the $1.2 trillion infrastructure bill by Sept. 27.
  • Rep. James Clyburn (D-S.C.) the House majority whip, raised doubts about that Sunday on CNN's "State of the Union," saying: "Sometimes, you have to kind of stop the clock to get to the goal."

The bottom line: Outside conservative groups know Biden's agenda hangs by a tread and that they only need to spook a handful of centrist members — some of them in swing districts — to cause major complications.

Go deeper

Scoop: “How about zero?” Manchin, Sanders get heated behind closed doors

Sen. Joe Manchin. Photo: Tom Williams/CQ-Roll Call via Getty Images

Sens. Joe Manchin (D-W.Va.) and Bernie Sanders (I-Vt.) squabbled behind closed doors Wednesday, with Manchin using a raised-fist goose egg to tell his colleague he can live without any of President Biden's social spending plan, Axios has learned.

Why it matters: The disagreement, recounted to Axios by two senators in the room, underscores how far apart two key members remain as the Democratic Party tries to meet its deadline for reaching an agreement on a budget reconciliation framework by Friday.

Oct 21, 2021 - Technology

Snapchat stock sinks as it warns about Apple changes

Illustration: Rebecca Zisser/Axios

Snapchat's stock fell nearly 25% in after-hours trading Thursday after the tech giant acknowledged that its ad business "was disrupted" by changes to Apple's privacy terms that rolled out in June and July.

Why it matters: Snapchat's quarterly results sent stocks for Google and Facebook down in after-hours trading on fears that their businesses may also be affected by Apple's changes.

Mike Allen, author of AM
40 mins ago - Politics & Policy

Fauci fires back at Rand Paul for slam on tonight's "Axios on HBO"

Responding to charges by Sen. Rand Paul on Sunday's "Axios on HBO," NIAID director Anthony Fauci told "ABC This Week" that it's "molecularly impossible" for U.S.-funded bat virus research in China to have produced COVID-19.

Why it matters: The issue 0f Wuhan research was reignited on the right last week with a National Institutes of Health letter to Congress disclosing more about the research.