Dec 15, 2017

GOP releases final tax bill

House Ways and Means Committee chairman Kevin Brady was one of the main authors. Photo: J. Scott Applewhite / AP

House and Senate Republicans have released their tax conference report. (There's also a two-page summary.) It looks like it's on track to pass next week, now that key Senate holdouts — Sens. Marco Rubio and Bob Corker — have announced their support for the bill.

What's next: The House will vote on the bill on Tuesday, according to House Majority Leader Kevin McCarthy, and then the Senate will follow. House Republicans will meet on Monday night and Tuesday morning.

Three big things in the report:

  • The child tax credit has been made more refundable than in the Senate bill. It's now $2,000 per child, with $1,400 of this refundable for families who have no income tax liability.
  • The corporate rate will be 21% beginning in 2018.
  • The top individual rate is 37%. There are seven brackets, and the lowest rate is 10%.

The bottom line: House Speaker Paul Ryan said Republicans are "on the door step of something truly historic."

This story has been updated to add the date of the House vote and a link to the summary.

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Sign of the times: A pro-Warren super PAC

Democratic presidential candidate Sen. Elizabeth Warren at a rally in Nevada. Photo: Alex Wong/Getty Images

A group of women progressives who back Sen. Elizabeth Warren has formed Persist PAC, a super PAC airing pro-Warren ads starting Wednesday in an effort to boost her performance ahead of Saturday's crucial Nevada caucuses, a spokesman told Axios.

Why it matters: Warren has spoken adamantly against the influence of unlimited spending and dark money in politics. But these supporters have concluded that before Warren can reform the system, she must win under the rules that exist — and that whether she likes it or not, their uncoordinated help may be needed to keep her viable through this weekend's contest and into South Carolina and Super Tuesday.

Go deeperArrowUpdated 1 hour ago - Politics & Policy

Pentagon policy chief resigns amid reported discord with Trump

John Rood. Photo: Mark Wilson/Getty Images

John Rood, the Pentagon's top policy official, will resign from his post on Feb. 28, CNN first reported and President Trump confirmed.

The state of play: CNN said Rood "was perceived as not embracing some of the changes in policy the White House and senior Pentagon officials wanted," such as peace talks in Afghanistan with the Taliban and a decision to cut back on military exercises with South Korea as the president courted North Korea's Kim Jong-un.

Coronavirus cases rise, as warnings of global pandemic grow

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's NHC; Note: China refers to mainland China and the Diamond Princess is the cruise ship offshore Yokohama, Japan. Map: Danielle Alberti/Axios

We may be "at the brink" of a global pandemic, warns a top U.S. public health official, as cases continue to spread despite containment efforts. Meanwhile, the global economy is being affected, including the tech manufacturing industry.

The big picture: COVID-19 has now killed more than 2,000 people and infected over 75,000 others, mostly in mainland China, where the National Health Commission announced 136 new deaths since Tuesday.

Go deeperArrowUpdated 2 hours ago - Health