Photo: Jim Watson/AFP/Getty Images

JPMorgan Chase CEO Jamie Dimon told CNBC Wednesday that he has "no problem paying higher taxes to address some of the fundamental challenges and inequities in our society," but that government spending must be efficient.

Flashback: Dimon told Axios he supported the 2017 Republican tax bill that lowered the corporate tax rate from 35% to 21% because he believed corporations would reinvest capital to create jobs. But a new survey from the National Association for Business Economics shows the $1.5 trillion tax cut package "appeared to have no major impact on businesses' capital investment or hiring plans," according to Reuters. The government's growing budget deficit, meanwhile, will force the Treasury Department to borrow $1 trillion for the second straight year.

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Updated 33 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 12:30 a.m. ET: 33,560,877 — Total deaths: 1,006,564 — Total recoveries: 23,297,593Map.
  2. U.S.: Total confirmed cases as of 12:30 a.m. ET: 7,190,036 — Total deaths: 205,974— Total recoveries: 2,809,674 — Total tests: 103,155,189Map.
  3. Health: Americans won't take Trump's word on the vaccine, Axios-Ipsos poll finds.
  4. Politics: 7 former FDA commissioners say Trump is undermining agency's credibility
  5. States: NYC's coronavirus positivity rate spikes to highest since June.
  6. Sports: Tennessee Titans close facility amid NFL's first coronavirus outbreak.
  7. World: U.K. beats previous record for new coronavirus cases.
  8. Work: United States of burnout — Asian American unemployment spikes amid pandemic
Mike Allen, author of AM
Updated 51 mins ago - Politics & Policy

The first Trump v. Biden presidential debate was a hot mess

Photos: Jim Watson and Saul Loeb/AFP via Getty Images

This debate was like the country: Everybody’s talking. Nobody’s listening. Nothing is learned. It’s a mess.

  • We were told President Trump would be savage. Turned out, that was a gross understatement. Even the moderator, Fox News' Chris Wallace, got bulldozed.

Why it matters: Honestly, who the hell knows?

Pundits react to a chaotic debate: “What a dark event we just witnessed”

The first presidential debate between President Trump and Joe Biden in Cleveland on Tuesday night was a shouting match, punctuated by interruptions and hallmarked by name-calling.

Why it matters: If Trump aimed to make the debate as chaotic as possible with a torrent of disruptions, he succeeded. Pundits struggled to make sense of what they saw, and it's tough to imagine that the American people were able to either.