Feb 3, 2017

Gary Cohn hedges on border tax reform

Gary Cohn (Andrew Harnik/AP)

Trump Chief Economic Advisor Gary Cohn wouldn't commit to the border adjustment tax, a proposed duty hike on corporate imports, during an interview Friday on CNBC.

Why it matters: Unified Republican government under President Trump has revealed the diversity of opinion on the right toward tax reform:

  • Donald Trump is reportedly skeptical that border adjustment will really protect domestic industry given that it will likely cause the value of the dollar to rise.
  • House Republicans like the idea because it is a Grover Norquist-approved means of raising revenue to cut the headline corporate rate.
  • Senate Republicans are divided depending on the relative clout of exporters and importers in their states.

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U.S. coronavirus updates: 3 out of 4 Americans forced to stay home

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios

At least 30 state governors and the District to Columbia have ordered their residents to stay home to promote social distancing and limit community spread from the coronavirus pandemic.

The big picture: Those states account for about 3/4 of the American population, the N.Y. Times notes. More cities like Boston, Detroit, New Orleans and Philadelphia, are reporting an influx of cases, prompting states to take stronger actions.

Go deeperArrowUpdated 20 mins ago - Health

America under lockdown

Illustration: Sarah Grillo/Axios

If you thought March felt like the longest month in American history, just wait for April and May, when people will be forced to witness spring from the indoors.

The big picture: 28 states are in or entering lockdown, with Maryland and Virginia joining those ranks today. So is D.C., as its mayor made official this afternoon. Those states include roughly 3/4 of the American people, the N.Y. Times notes.

Go deeperArrow22 mins ago - Health

Ford, GE aim to make 50,000 ventilators in 100 days

A Model A-E ventilator, left, and a simple test lung. The ventilator uses a design that operates on air pressure without the need for electricity, addressing the needs of most COVID-19 patients. Photo: Ford

Ford and GE Healthcare announced plans on Monday to build a simplified ventilator design licensed from a Florida medical technology company, with the goal of producing 50,000 machines by early July, and up to 30,000 a month thereafter, to fight the coronavirus.

Why it matters: The companies are moving in "Trump time" to meet demand for urgently needed ventilators, says White House Defense Production Act Coordinator Peter Navarro. But with deaths expected to peak in two weeks, the machines won't arrive in large numbers in time to help the hardest-hit cities.

Go deeperArrowUpdated 24 mins ago - Health