Sign up for our daily briefing

Make your busy days simpler with the Axios AM and PM newsletters. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to the Axios Closer newsletter for insights into the day’s business news and trends and why they matter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios Pro Rata

Dive into the world of dealmakers across VC, PE and M&A with Axios Pro Rata. Delivered daily to your inbox by Dan Primack and Kia Kokalitcheva.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with the Axios Sports newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with the Axios Des Moines newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with the Axios Tampa Bay newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Austin news?

Get a daily digest of the most important stories affecting your hometown with the Axios Austin newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Atlanta news?

Get a daily digest of the most important stories affecting your hometown with the Axios Atlanta newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Philadelphia news?

Get a daily digest of the most important stories affecting your hometown with the Axios Philadelphia newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Chicago news?

Get a daily digest of the most important stories affecting your hometown with the Axios Chicago newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top DC news?

Get a daily digest of the most important stories affecting your hometown with the Axios DC newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Shoshana Gordon/Axios

President Biden declared victory in announcing the bipartisan infrastructure package. Now comes the hard part: negotiating with his own party on the separate reconciliation bill.

Why it matters: By trying to simultaneously pass two massive spending bills, Biden and congressional leaders are attempting a legislative feat that will likely require Congress to work through its August recess — and potentially well into the fall, according to lawmakers and senior staffers.

  • Even then, the prospects for success are long.

What they're saying: “We have to be prepared to be here for as long as it takes," Sen. Chris Murphy (D-Conn.) told Axios' Sarah Mucha.

  • “We’re not doing one step unless we’ve done the other. We need to be willing to put in the time to get that done.”

Driving the news: Biden, House Speaker Nancy Pelosi (D-Calif.) and Senate Majority Leader Chuck Schumer (D-N.Y.) all indicated Thursday that the bipartisan agreement won’t become law unless a separate reconciliation bill is assured.

  • “If this is the only thing that comes to me, I’m not signing it,” Biden said. “It’s in tandem.”
  • “There ain’t no infrastructure bill without the reconciliation bill,” Pelosi told reporters.
  • “Everyone in our caucus knows you can’t do one without the other. We don’t have the votes for one, unless you have the votes for the other one,” Schumer said.

The big picture: White House officials have been working the phones to ensure the bipartisan agreement — which would spend an additional $579 billion in a package priced at $1.2 trillion over eight years — will survive challenges from progressives in the House and Senate.

  • While key House transportation leaders haven’t agreed to the bipartisan deal, administration officials are confident they have the votes, according to people familiar with the process.
  • But all sides are bracing for a brutal battle about what will be included in the reconciliation package, its total price tag and how much money it will raise with new revenue from corporations and individuals.
  • Congress also will have to increase the debt ceiling, which is set to reach its limit on July 31.

Go deeper: While progressives are talking about a potential $6 trillion budget resolution, Sens. Joe Manchin (D-W.Va.) and Kyrsten Sinema (D-Ariz.) will likely set the cap below $2 trillion.

  • That will put pressure on progressives to winnow and agree on their priorities.
  • That's not the only challenge.
  • Moderate House Democrats are threatening to vote against any tax bill that doesn’t eliminate the $10,000 limit for an exemption on state and local tax payments, which costs $70 billion to $80 billion per year.

By the numbers: The White House is privately pleased it convinced Republican senators to accept a more expansive definition of infrastructure, with $266 billion for projects that aren’t traditional roads, bridges and airports.

  • Broadband is set to receive $65 billion.
  • Waterways are allotted $55 billion.
  • The power grid is slated for $73 billion.
  • And for environmental remediation, there’s $21 billion.

Between the lines: The White House also is claiming victory because Biden reached a deal without violating his two redlines.

  • No tax increases on families making less than $400,000.
  • Inaction was not an option, Biden frequently said.

Be smart: The pending legislative battle will serve as a full-employment act for Democratic lobbyists on K Street.

  • They'll be in play for debates about everything from the corporate tax rate to Medicare expansion to billion-dollar issues that won't make headlines.

Go deeper

Senate passes short-term highway funding extension

Senate Majority Leader Chuck Schumer walking through the Capitol building on Sept. 30.

The Senate passed a 30-day, short-term extension of federal highway programs on Saturday, sending the legislation to President Biden, who is expected to sign.

Why it matters: Roughly 3,700 Transportation Department employees were temporarily furloughed after Congress failed to reauthorize the programs because Republicans rejected the legislation on Friday.

Crypto leads to massive surge in online scams

Expand chart
Reproduced from FTC; Chart: Axios Visuals

Bogus cryptocurrency investments led to an unprecedented increase in online scams last year, according to new data from the Federal Trade Commission (FTC).

Why it matters: Cryptocurrency is an easy target because while it's surging in popularity, there's still a lot of confusion about how it works.

Tina Reed, author of Vitals
2 hours ago - Health

New clues emerge on long COVID

Illustration: Maura Losch/Axios

The presence of certain autoantibodies or high amounts of coronavirus RNA in the blood could be indicators a patient has a higher chance of developing long COVID, according to a new study in the journal Cell.

  • Other factors include a person having Type 2 diabetes or the reactivation of the Epstein-Barr virus.