1 big thing: The tax plan
"While leadership and staff were pleased with how yesterday's rollout of the House tax bill went," reports Axios' Caitlin Owens, "there are a handful of issues that will be subject to, at the very least, further negotiations among Republicans.
The issues raised by members so far:
- Mortgage interest deductibility
- State and local tax deduction
- Carried interest tax break
- International tax policy
- Individual mandate
- Dive into the issues.
Big picture, from Axios' Jonathan Swan:
- "There's a bunch of members who have real concerns, and they can only afford to lose about 20 votes in the House..."
- "[B]ut leadership feels genuinely confident."
- "The real trouble is in the Senate, where Mitch McConnell can only afford to lose two votes. He's got two deficit hawks in Bob Corker and Jeff Flake who have two additional liabilities: they can't stand Trump and they're leaving Congress so they don't have to face the voters again. Throw the unpredictable Susan Collins and Rand Paul into the mix and you have yourself a problem. They might get this done before the end of the year — as they claim — but don't bet on it."
2. What you missed
- President Trump has embarked on a 5-country, 11-day tour of Asia. His itinerary.
- Bowe Bergdahl avoids jail: He'll be dishonorably discharged, but won't spend time in prison, a judge ruled today. Trump called the decision a "disgrace." Background on Bergdahl.
- Broadcom is considering a bid for Qualcomm, Bloomberg reported Friday, in what would be the biggest ever takeover in the semiconductor industry. More.
- A contractor for Twitter was behind last night's deactivation of President Trump's account. Why that deactivation matters.
- A new, isolated species of orangutan has been found on the Indonesian island of Sumatra nearly a century after being originally reported, growing our great ape family by one. Details.
3. Where are the wages?
"The U.S. has the very picture of a squeaky-tight jobs market, according to government figures released today," Axios' Steve LeVine writes. "Yet wage growth... worsened last month... According to the law of supply and demand, employers should be sharply bidding up wages in order to capture increasingly scarce workers. But they aren't — and in fact, by the numbers, you might say they defiantly aren't."