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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 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.
The Trump administration, House Republicans and Democratic attorneys general have settled a lawsuit over the Affordable Care Act's cost-sharing reduction payments to insurers, Bloomberg reports. The court filing doesn't give any details of the settlement, per Bloomberg, except to say that it's "conditional."
What to watch: It's hard to know the true significance of the settlement when zero details are available. The only way to know is to watch for the next actions from the Trump administration — to see if it restarts the payments it had stopped — or Congress, to see if it passes the bipartisan bill to fund the payments. Either action could satisfy the Democratic attorneys general, who intervened in the lawsuit to try to preserve the subsidies.
From a spokesperson for House Speaker Paul Ryan: "We are gratified that as a follow-up to the executive branch’s acknowledgement that making Obamacare payments to insurers without a congressional appropriation was unlawful, the parties have now agreed to resolve this lawsuit while leaving in place the district court’s legal rulings vindicating the House’s constitutional powers."
The Trump administration's decision to roll back access to birth control under the Affordable Care Act has been blocked temporarily by a federal judge in Pennsylvania, Buzzfeed reports. The new rules went into effect in October and allowed employers and universities to decline providing birth control coverage for "religious or moral" reasons.
Why it matters: The ruling is one of several recent court orders blocking a Trump administration law. Trump's series of travel bans as well as his order preventing transgender troops from serving in the military have also been halted in court.
U.S. District Judge Wendy Beetlestone agreed to grant Pennsylvania Attorney General Josh Shapiro's motion for a preliminary injunction, ruling that the Trump administration’s decision could potentially result in “enormous and irreversible” harm to the women of Pennsylvania. The injunction is applicable to all 50 states.
What's next: The block will remain in place until all arguments in the case are heard, which means the ACA requirement that all employers pay for contraception will stay in effect in the interim.
The Pennsylvania ruling joins a handful of similar lawsuits, including one in California, filed against the Trump administration's contraception rules.
Michigan entrepreneur Ann Marie Sastry has left vacuum-maker Dyson, two years after it acquired her controverial lithium-ion battery company, Axios has learned. The $90 million all-cash buyout remains one of the richest lithium-ion deals ever.
Quick take: Sources with knowledge of the situation were not certain of the circumstances of Sastry's departure. But it comes eight months after Dyson relinquished Sakti3's core battery patents, and doubts remain in the field regarding her main claim, asserted repeatedly — that she was on the verge of commercializing much-sought-after solid state battery technology.
Why it matters: For the last two years, Dyson founder James Dyson has spoken of ambitious plans to spend $1 billion to $3 billion to revolutionize batteries and electric cars. He has said said his electric car will ready for the road by 2020. At the time, Dyson's October 2015 purchase of Sakti3 was the spearpoint of the mission, and Sastry's departure suggests more internal turmoil than he has let on.
In September, Dyson told Bloomberg that he had created two competing battery teams—Sakti3, plus another that was attempting a different approach to solid state. One explanation for Sastry's departure was that the other team won. In an interview with the Guardian, Dyson said the company's batteries were already more efficient than those in commercial electric vehicles.
At the time of the October 2015 deal and since, numerous leading U.S. battery researchers told me they wondered why Dyson had bought Sakti3. Despite Sastry's robust claims of the company's progress with solid state, she had revealed very little publicly and, since no one else had made much progress, the deep suspicion was that she was exaggerating. Indeed, in reporting for a story at the time of the buyout, former Sakti3 executives told me that the doubters were correct—the company's technology was rudimentary and nowhere near commercial.
Dyson said Sastry is no longer with the company but declined to comment further. Sastry could not be reached.
Dan Primack contributed to this story.
Sen. Bob Corker (R-Tenn.), the only holdout on the Senate's initial tax bill, announced Friday that he will vote "yes" on the GOP's tax cuts bill, less than an hour after Sen. Marco Rubio (R-Fla.) said he will also vote yes.
Why it matters: Corker's vote essentially cements the tax bill's passage before the Christmas deadline.
"After many conversations over the past several days with individuals from both sides of the aisle across Tennessee and around the country — including business owners, farmers, chambers of commerce and economic development leaders — I have decided to support the tax reform package we will vote on next week.
"This bill is far from perfect, and left to my own accord, we would have reached bipartisan consensus on legislation that avoided any chance of adding to the deficit and far less would have been done on the individual side with items that do not generate economic growth.
"But after great though and consideration, I believe that this once-in-a-generation opportunity to make U.S. businesses domestically more productive and internationally more competitive is one we should not miss. While many project that it is very possible over the next ten years we could be at least $500 billion short on a $43 trillion policy baseline, I believe this bill accompanied with the significant regulatory changes that are underway, and hopefully, future pro-growth oriented policies relative to trade and immigration , could have significant positive impact on the well-being of Americans and help drive additional foreign direct investment in Tennessee.
"In the end, after 11 years in the Senate, I know every bill we consider is imperfect and the questions becomes is our country better off with or without this piece of legislation. I think we are better off with it. I realize this is a bet on our country's enterprising spirit, and that is a bet I am willing to make."
The Department of Justice said that some members of the media received early copies of the texts between FBI officials Peter Strzok and Lisa Page, and that the release was not authorized by the department, Business Insider reports.
Why it matters: The texts are part of an ongoing investigation; they were shared with lawmakers on Tuesday night, prior to Deputy Attorney General Rod Rosenstein's testimony to the House Judiciary Committee, and were shared with reporters afterwards. But DOJ spokeswoman Sarah Isgur Flores said some reporters had already recieved them.
Sen. Marco Rubio's office has confirmed to reporters that the senator will be voting for the GOP tax cuts bill now that the child tax credit has been enhanced to meet his standards.
Why it matters: This thing looks ready to pass.
The FCC plans to fine Sinclair Broadcasting Corporation milions of dollars over undisclosed cancer ads that aired during newscasts over a six-month period in 2016, Reuters reports.
The news comes one day after reports surfaced that the DOJ wants Sinclair to divest roughly 12 local broadcast stations in order for its $3.9 million merger with Tribune Media Company to be approved. It also comes as FCC Chairman Ajit Pai is being attacked for what is seen as a close relationship with Sinclair.
The fine addresses roughly 1,700 commercials that aired for the Huntsman Cancer Institute. According to the report, Sinclair has previously told reporters that the violations were unintentional.
Reuters reports that the fine was approved by the five-member FCC but has not yet been made public. Sinclair's management has always been right-leaning and conservative-leaning Pai has been accused by progressives as being favorable to the broadcaster.
A senior White House official told reporters today that the Trump administration believes the Western Wall in East Jerusalem will remain part of Israel in any future peace agreement with the Palestinians. The issue came up during a briefing to reporters on Vice President Mike Pence's upcoming visit to Israel.
Why it matters: The statement risks further infuriating the Palestinians at a time when the administration is trying to cool down the crisis created by President Trump's Jerusalem speech. The Western wall was occupied by Israel during the Six-Day War in 1967 and was never recognized as part of Israel by any country around the world.
Context: During previous negotiations between Israel and the Palestinians, the U.S. supported the Israeli position that the Western Wall should stay part of Israel, but it was never articulated publicly.
What to watch: The official said Pence will visit the Western Wall during his trip to Israel, and he will do it as the vice president and not as a private citizen. "We cannot envision any situation under which the Western Wall would not [be] part of Israel," the official said. "But as the president said, the specific boundaries of sovereignty of Israel are going to be part of the final status agreement."
The bottom line: After the briefing ended, the White House official noted that the U.S. "cannot imagine Israel would sign a peace agreement that didn’t include the Western Wall."
What's next: In the meantime, White House special envoy Jason Greenblatt will arrive in Israel early next week. It is unclear whether Greenblatt is going to meet any Palestinian officials. Palestinian Authority president Mahmoud Abbas announced he does not see the U.S. as an honest broker and said the Palestinians will not meet with Pence during his visit.
While in Israel, Greenblatt will meet Fernando Gentilini, European Union envoy for Middle East peace. The 28 leaders of EU member states announced yesterday they see Jerusalem as the shared capital of both Israel and Palestine — pushing back against Trump's announcement that the U.S. recognizes it as the capital of Israel.
The White House official added that given the timing, Greenblatt will stay on for Pence’s visit to provide any relevant support.
The Facebook logo is displayed on an iPad. Photo: Matt Rourke / AP
In a new installment of its "Hard Questions" series, Facebook acknowledges that social media can have negative (or positive) effects on people, depending on how they use it.
Why it matters: This might be the first public acknowledgment from the company that its product — and category in general — can have detrimental effects on people.
Good and bad use, according to research cited by Facebook:
But: This isn't a capitulation from Facebook, admitting that it may be doing some harm. Instead, the company is simply telling us that we just need to use its social network in more positive ways.
The number of people planning to attend law schools next fall has increased by 12%, there have been 14% more law school applications and 23 law schools reported 40% increases in applications, according to data from the Law School Admission Council.
Why it matters: Interest in law school has been declining since before the recession, Wall Street Journal reports. Law school deans and advisors told WSJ that the upturn is at least in part due to the legal issues arising from Trump's administration, better discounts at law schools and a revived economy.