Dec 10, 2017

How the GOP tax plan's focus shifted from the middle class

Republican leaders Sen. McConnell and Sen. Hatch with Treasury Secretary Mnuchin.

"GOP plan evolved into a windfall for the wealthy," the WashPost's Damian Paletta writes in the paper's lead story:

  • Key stat: "[T]he plan would cut taxes for businesses by $1 trillion, would cut an additional $100 billion in changes to the estate tax for the wealthy, and spreads the remaining $300 billion over 10 years among all households at every income level."
  • Why it matters: "[I]t amounts to a massive corporate tax cut, with uneven — and temporary — benefits for the middle class that could end up increasing taxes for many working families in future years."
  • Tick-tock on how it happened.

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3 p.m. ET: 1,475,976 — Total deaths: 86,979 — Total recoveries: 317,372Map.
  2. U.S.: Total confirmed cases as of 3 p.m. ET: 404,352 — Total deaths: 13,829 — Total recoveries: 22,775Map.
  3. States latest: New York Gov. Andrew Cuomo issued an executive order allowing New Yorkers to vote by absentee ballot for June 23 primaries.
  4. Federal government latest: The U.S. has begun to see "glimmers of hope" despite its highest recorded number of deaths in 24 hours, Dr. Anthony Fauci said.
  5. World updates: WHO Director-General Tedros Adhanom Ghebreyesus urged countries should put politics aside "if you don’t want to have many more body bags.”
  6. 🎧 Podcast: The battle over billionaire coronavirus saviors
  7. What should I do? Pets, moving and personal healthAnswers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

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