Good Thursday morning. If you're in D.C., please join me downtown at 8 a.m. for my double-header year-end event: back-to-back conversations with Senate Majority Leader Mitch McConnell, who'll take us behind the scenes of the tax wrangling, and Senate Intelligence Committee Vice Chair Mark Warner, who yesterday declared "red lines" on firing Mueller or pardoning witnesses.
RSVP, location here.
Two weeks of insight: Between now and New Year's Day, Axios CEO Jim VandeHei and I will bring AM readers our year-end thoughts on the topics that matter most ...
For all the worldwide worries, a fascinating and rare trend is unfolding around the globe: synchronized growth.
President Trump and many other global leaders are basically boosting each other with their expanding economies and increased spending at home. It's very unusual for the world's biggest economies to grow all at once — and this phenomenon has no doubt helped boost U.S. markets.
Check out the Q3 growth rates of the world's 10 largest economies:
U.S.: 3.3% China: 6.9% Japan: 2.5% Germany: .8% U.K.: .4% India: 6.3% France: .5% Brazil: .1% Italy: .4% Canada: 1.7%
There are many reasons/theories for simultaneous growth:
Bullish at the top: Dimon says we "could have years of more global growth." White House economic adviser Gary Cohn told us to expect a lot more growth at home next year, especially with the tax cuts in place. He sees a continued rally "based on real, underlying fundamentals of the economy — the U.S. economy as well as European economy and global economy," plus the new tax incentives. Be smart: Economics is like politics: Everyone has an opinion, but everyone is guessing. Be watchful: The same force that pulled the world out of an economic funk — sustained if anemic growth in the U.S., and robust growth in China — could turn and pull others down.
New Year signing planned: President Trump plans to sign the tax bill Jan. 3 to ensure automatic spending cuts to Medicare and other programs don't take effect, a House Republican aide told Bloomberg:
Trump's triple dip ... From his South Lawn remarks: "[W]e essentially repealed Obamacare because we got rid of the individual mandate ... So we have [drilling in] ANWR, we have mandate [repeal], and we have the tax cut."
Shot ... From the Wall Street Journal's tick-tock: "Early Wednesday, after [the] Senate vote, ... Republicans piled into a 1 a.m. press conference to congratulate themselves ... Ten senators spoke for a total of nine minutes. Two words that weren't used: 'President' and 'Trump.'"
How it's playing ... NYT banner, "G.O.P. EXULTS AS CONGRESS DELIVERS TAX BILL" ... WP, "Sweeping tax overhaul clears Congress" ... WSJ, "Tax Vote Seals Victory for Trump" ... USA Today, "Government headed for $1 trillion deficit" in 2018 ... L.A. Times, "No deal for 'Dreamers' expected by year's end."
Within minutes of the tax bill's final passage, companies began to roll out pre-staged plans to increase pay benefits and philanthropy, Axios' Khorri Atkinson reports.
Go deeper: What you'll see under the new tax code.
Near Carpinteria, Calif., ashen hillsides burned in the Thomas Fire take on a nearly winter-like appearance.
Microsoft CEO Satya Nadella — the heir to Gates and Ballmer — talks to Bloomberg Businessweek Editor Megan Murphy about dealing with populism and nativism:
Breaking ... "Tech giants ratify a key standard for 5G cellular technology." Axios' Ina Fried reports from S.F.
P.S. "Targeted Job Ads on Facebook Prompt Concerns About Age Bias," per N.Y. Times A1:
Penske Media Corp., owner of Variety, buys a controlling interest in Wenner Media, parent of Rolling Stone, Variety reports:
Homicide data show that urban killings are rising in clusters, while other areas of the same city grow safer, AP's Sara Burnett and Larry Fenn report:
Reliving 2017 in 30 images ... ISIS loses its caliphate: A woman holds an injured girl as Iraqi forces advance against Islamic State group militants in the old city of Mosul, Iraq, on July 3.
"Control of Virginia House comes down to a coin toss," per a WashPost front-pager: