SubscribeArrow

Good Wednesday morning. Situational awareness: A White House official, confirming a WashPost report, tells me the top tax rate in the GOP package will be cut from 39.6% to 37%. "We never intended to raise people's taxes," the official told me. The rate cut is designed to compensate for lost deductibility of state and local taxes, and should make up the difference in most places besides California and New York, the official said.

Axios is at the University of Michigan in Ann Arbor today for the Midwest launch of our Smarter Faster Revolution, aimed at college students. My guests include TaskRabbit CEO Stacy Brown-Philpot, raised in a single-parent household in Detroit, and JPMorgan Chase CEO Jamie Dimon, who will announce that Detroit's Entrepreneurs of Color Fund is tripling in size. RSVP here.