Dec 12, 2017

GOP lawmakers consider lowering top earners' tax rate to 37%

A presidential limousine parked on Capitol Hill. Photo: Susan Walsh / AP

Republicans in Congress are in talks to cut the income tax rate for the nation's top earners from 39.6% to 37%, the Washington Post reports, citing sources familiar with the negotiations, which are continuing.

The change is in response to "complaints from wealthy taxpayers in New York and elsewhere that their taxes could go up under the legislation because of other changes it makes to the code," the paper says.

Why it matters: Cutting the top rate would only worsen the tax plan's reputation for benefiting the wealthiest Americans. A cut in the top rate woud spark a "furious response" from Democrats, the Post says.

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U.S. coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios. This graphic includes "probable deaths" that New York City began reporting on April 14.

D.C. Mayor Muriel Bowser said Wednesday the city will start to lift coronavirus restrictions on Friday after seeing a 14-day decline in community spread of the virus. The city’s current stay-at-home and business closure orders were set to run through June 8.

By the numbers: More than 98,900 people have died from the novel coronavirus and over 1.6 million have tested positive in the U.S. Over 384,900 Americans have recovered and more than 14.9 million tests have been conducted.

Boeing to lay off 6,770 more U.S. employees

Lufthansa Boeing 747 passenger aircraft. Photo: Boris Roessler/picture alliance via Getty Images

Boeing will lay off 6,770 U.S. more employees as it seeks to offset the plummeting demand from the coronavirus pandemic and its year-long grounding of the 737 MAX, CEO Dave Calhoun told employees Wednesday.

The big picture: Boeing was already cutting 10% of its workforce, which included 5,530 voluntary layoffs. The jobs most in peril are related to its commercial industry, while the company's defense, space and related services businesses will try to limit the overall job loss, per a Boeing spokesperson.

Biden compares "tragic" death of George Floyd to Eric Garner

Joe Biden at a virtual event last month. Photo: JoeBiden.com via Getty Images

Before former Vice President Joe Biden began his virtual event with Pennsylvania Gov. Tom Wolf Wednesday, he addressed the recent officer-involved death of George Floyd, a black man in Minneapolis.

What they're saying: Biden referenced the 2014 death of Eric Garner, an unarmed black man who died after a New York police officer used an illegal chokehold on him during an arrest.