Apr 20, 2017

Mnuchin backtracks again on his tax plan

Dan Primack, author of Pro Rata

Soeren Stache / AP

Treasury Secretary Steve Mnuchin today said that the White House would unveil its comprehensive tax reform plan "very soon," just days after telling The Financial Times that releasing a plan by August's congressional recess would be "highly aggressive to not realistic."

What changed? President Trump gave a speech in between Mnuchin's conflicting statements, saying that the White House has "the concept of the plan" and that "we're going to be announcing it very soon."

Market reaction: U.S. markets jumped following Mnuchin's comments today. Then again, those same markets also rose after Mnuchin's prior statement, suggesting that the prospect of tax reform isn't really driving trades in the first place.

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Axios
Updated 4 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 9 p.m. ET: 20,755,406 — Total deaths: 752,225— Total recoveries: 12,917,934 — Map.
  2. U.S.: Total confirmed cases as of 9 p.m. ET: 5,246,760 — Total deaths: 167,052 — Total recoveries: 1,774,648 — Total tests: 64,831,306 — Map.
  3. Politics: House Democrats to investigate scientist leading "Operation Warp Speed" vaccine project — McConnell announces Senate will not hold votes until Sept. 8 unless stimulus deal is reached.
  4. 2020: Biden calls for 3-month national mask mandate — Biden and Harris to receive coronavirus briefings 4 times a week.
  5. States: Georgia Gov. Brian Kemp to drop lawsuit over Atlanta's mask mandate.
  6. Business: Why the CARES Act makes 2020 the best year for companies to lose money.
  7. Public health: Fauci's guidance on pre-vaccine coronavirus treatments — Cases are falling, but don't get too comfortable.
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Jacob Knutson
4 hours ago - Politics & Policy

Trump says he intends to give RNC speech on White House lawn

President Trump speaking to reporters on South Lawn in July. Photo: Jabin Botsford/The Washington Post via Getty Images

President Trump told the New York Post on Thursday that he plans to deliver his Republican National Convention speech from the White House lawn, despite bipartisan criticism of the optics and legality of the location.

Why it matters: Previous presidents avoided blurring staged campaign-style events — like party conventions — with official business of governing on the White House premises, per Politico.

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Eileen Drage O'Reilly
7 hours ago - Health

Fauci's guidance on pre-vaccine coronavirus treatments

Illustration: Aïda Amer/Axios

Antibody drugs and various medicine cocktails against the coronavirus are progressing and may provide some relief before vaccines.

The big picture: Everyone wants to know how and when they can return to "normal" life, as vaccines are not expected to be ready for most Americans for at least a year. Two therapies are known to be helpful, and more could be announced by late September, NIAID Director Anthony Fauci tells Axios.

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