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Photo: Mark Makela/Getty Images

Sen. Kamala Harris — who has largely held on as a top-tier polling candidate after standing out in 2020 debates — is laying off dozens of her campaign aides as her campaign manager cuts his own salary, Axios has confirmed.

The big picture, via Axios' Alexi McCammond: Harris is not the only candidate facing a cash crunch with more staffers than she can probably afford, but these layoffs are not a good sign for someone polling in the top five.

  • Harris and others in this position ultimately face two choices: drop out or fire staff to reallocate money and keep running.

By the numbers: Harris raised $11.8 million in Q3, per her FEC filing, and finished with $10.5 million cash on hand. She spent $14.5 million — more than what she got. Former Vice President Joe Biden also spent more than he raised in Q3.

What they're saying: “From the beginning of this campaign, Kamala Harris and this team set out with one goal — to win the nomination and defeat Donald Trump in 2020. This requires us to make difficult strategic decisions and make clear priorities, not threaten to drop out or deploy gimmicks,” Harris' campaign manager Juan Rodriguez wrote in a memo obtained by Axios.

Go deeper: 2020 candidates' Q3 fundraising hauls

Go deeper

Senate confirms retired Gen. Lloyd Austin as defense secretary

Photo: Greg Nash-Pool/Getty Images

The Senate voted 93-2 on Friday to confirm retired Gen. Lloyd Austin as secretary of defense. Sens. Mike Lee (R-Utah) and Josh Hawley (R-Mo.) were the sole "no" votes.

Why it matters: Austin is the first Black American to lead the Pentagon and President Biden's second Cabinet nominee to be confirmed.

House will transmit article of impeachment to Senate on Monday, Schumer says

Photo: Drew Angerer/Getty Images

Senate Majority Leader Chuck Schumer (D-N.Y.) announced that the House will deliver the article of impeachment against former President Trump for "incitement of insurrection" on Monday.

Why it matters: The Senate is required to begin the impeachment trial at 1pm the day after the article is transmitted.

Dan Primack, author of Pro Rata
3 hours ago - Politics & Policy

Private equity bets on delayed tax reform in Biden administration

Illustration: Brendan Lynch/Axios

In normal times, private equity would be nervous about Democratic Party control of both the White House and Congress. But in pandemic-consumed 2021, the industry seems sanguine.

Driving the news: Industry executives and lobbyists paid very close attention to Treasury Secretary nominee Janet Yellen's confirmation hearings this week, and came away convinced that tax reform isn't on the near-term agenda.