May 3, 2017

Latest idea in House to cut the deficit

Photo by AP's J. Scott Applewhite

The House Budget Committee is considering options to use reconciliation to reduce the deficit, two sources close to the committee told Axios. The committee could include instructions for every authorizing committee to find a total of $500 billion of mandatory savings over 10 years one source close to the budget committee said. Medicare is one of dozens of mandatory programs under discussion for the cost reductions.

Why this matters: It would be the first time reconciliation has been used to reduce the deficit since 2006, said the source close to the committee. Some lobbyists say the cuts could be the way to pay for tax reform, though a source close to committee said that wasn't the goal.

Reality check: It's unclear how involved Republican leaders are in these plans.

Go deeper

Axios
1 hour ago - Podcasts

Inside Joe Biden's economic plan

Joe Biden on Thursday returned to his hometown of Scranton, Pennsylvania, to give his first major speech on economic policy since becoming the Democratic Party’s presumptive presidential nominee.

Axios Re:Cap digs into Biden's plans, how they developed and how they may change, with former U.S. Commerce secretary and campaign surrogate Penny Pritzker.

Dave Lawler
2 hours ago - World

Countries grapple with whether to lock back down as hotspots emerge

Tokyo in the time of coronavirus. Photo: Charly Triballeau/AFP via Getty

Many politicians and public health officials sounded a similar lockdown refrain in the spring: let’s do this right so we only have to do it once.

Reality check: While some countries have thus far managed to keep cases under control after opening up, dozens of countries that had initially turned a corner are now seeing a worrying rebound. They have to decide if and how to return to lockdown — and whether their populations will stand for it.

Go deeper (2 min. read)Arrow
Axios
Updated 4 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 4:30 p.m. ET: 12,128,406 — Total deaths: 551,552 — Total recoveries — 6,650,675 — Map.
  2. U.S.: Total confirmed cases as of 4:30 p.m. ET: 3,088,913 — Total deaths: 132,934 — Total recoveries: 953,420 — Total tested: 36,979,745 — Map.
  3. Public health: More young people are spreading the virus — Cases rise in 33 states — Florida reports highest single-day death toll since pandemic began.
  4. Science: World Health Organization acknowledges airborne transmission of coronavirus.
  5. 1 🐂 thing: How the world could monitor for potential pandemic animal viruses.
Go deeper (<1 min. read)Arrow