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German Chancellor and Interior Minister Horst Seehofer prior to a meeting on migration in Berlin, Germany. Photo: Sean Gallup/Getty Images

German Chancellor Angela Merkel reached an agreement with her hard-line interior minister, Horst Seehofer, on Monday amid a growing standoff between them over how to tackle the country’s migrant crisis, per the Wall Street Journal.

Why it matters: Merkel has been seeking to end a standoff with Seehofer, the chairman of the Christian Social Union, the sister party to her Christian Democratic Union, which has put her coalition government on the brink of collapse. Just less than a day ago, Seehofer said he would resign after rejecting a previous deal Merkel clinked with European Union leaders, saying it's insufficient.

The details: Under joint agreement, Germany will establish centers near its borders to review asylum seekers’ applications. Merkel called it a “really good compromise,” per the WSJ. Meanwhile, Seehofer walked back his plan to resign.

  • Seehofer had called for migrants who have been registered as asylum seekers in other countries be turned away at Germany’s border.

Go deeper: Merkel's coalition agrees to migration terms as pressures across EU persist

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 1 p.m. the day after the article is transmitted.

Dan Primack, author of Pro Rata
2 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.