A college education in the U.S. has become virtually impossible for the average American to afford without state or federal loans, grants, scholarships or support from family members. Meanwhile, tuition continues to increase, and the student's share of the cost has grown.
Note: State spending represents appropriations for higher education in each state per student enrolled full-time in a public university; The student share is net tuition as a proportion of total higher education revenues; Data for Illinois is not available and is not included the U.S. average; Dollar amounts are adjusted for inflation; Data: State Higher Education Executive Officers Association; Chart: Chris Canipe / Axios
President Trump said on Saturday that the final corporate tax rate may be 22%, above the 20% rate he had insisted on leading up to last night's Senate vote approving the bill, per the Wall Street Journal.
Why it matters, according to the Journal's Richard Rubin: "During Senate debate, Republican leaders beat back attempts to go above 20%, including calls from Sens. Marco Rubio (R., Fla.) and Mike Lee (R., Utah) to pay for a larger child tax credit and from Sen. Susan Collins (R., Maine) for her priorities."
Michael Flynn's guilty plea and agreement to cooperate with Bob Mueller's investigation was without doubt terrible news for President Trump and his inner circle: Flynn knows more than anyone about their dealings with Russia.
But, but, but: This doesn't necessarily mean Trump is in personal legal jeopardy, much less on the road to impeachment.
Democratic senators are taking to Twitter with their outrage on how Republicans are moving ahead with a massive tax bill without sharing the final text so they can each read the bill. The main offenses, per the Democrats: scribbled changes and hundreds of pages they can't read through tonight.
Our thought bubble: Tweaks to legislative language during floor debate is nothing new, and Democrats are highlighting written edits to draft language. But though both parties have rushed legislation when they're in power, it's not normal for a bill of this magnitude to be voted on so soon after being released.
Bottom line: 51 Republican senators said they'd vote for the bill before they'd seen changes worth hundreds of billions of dollars.
The Senate has passed its version of the GOP tax bill, but it still differs in some significant ways from the House version. That means the conference committee — which House aides unanimously insist is happening — will have real problems to resolve.
Be smart: A final tax bill isn't a done deal, but once members have put themselves on the record voting for the bill once, they're going to feel a lot of pressure to get to "yes" again.
President Trump is holding a rally in Pensacola, Florida next week, just miles from Alabama, Bloomberg reports. The rally will be four days before Alabama's special U.S. Senate election featuring Roy Moore and Doug Jones.
Why it matters: Steve Bannon plans to campaign for Republican Roy Moore next week as well. Trump's visit may draw more attention to Moore, who is under intense scrutiny for a number of sexual harassment allegations, without explicitly campaigning for him.
The U.S. District Court for the District of Columbia overturned the Department of Homeland Security's delay of President Obama's International Entrepreneur Rule (IER) on Friday.
Why it matters: The Obama-era rule would allow foreign-born entrepreneurs two-and-a-half years in the U.S. to grow their companies, and possibly an additional two-and-a-half year extension. The DHS delayed the implementation a week before it was meant to go into effect in July.
Hillary Clinton and Bernie Sanders' former campaign managers, Robby Mook and Jeff Weaver, argue in a memo obtained by CNN that the GOP's effort to overhaul tax reform has given Democrats a "golden opportunity" to get ahead in "just about every demographic."
Why it matters: Senate Republicans are set to pass their tax bill later today, which would be a major legislative win for the GOP going into the 2018 midterm elections.
Sen. Bob Corker will vote against the Senate GOP tax bill, saying it adds too much to the federal deficit. The Joint Committee on Taxation said yesterday it will add more than $1 trillion over the next decade when taking into account economic growth.
Key quote: "I am not able to cast aside my fiscal concerns and vote for legislation that I believe ... could deepen the debt burden on future generations."
Why it matters: It doesn't. The bill is on track to pass 51-49 later today.
Thetop Democrat on the Senate Intelligence Committee questioned why President Trump won't acknowledge Russian interference. "Frankly, virtually every one of my Republican colleagues acknowledges Russian intervention. The one individual that still seems to deny that this is not a major issue is Donald Trump."
Why now: Former National Security Advisor, Mike Flynn, plead guilty to lying to the FBI about his conversations with Russian officials earlier today.
Michael Flynn, who pleaded guilty today to lying to the FBI, has reportedly promised "full cooperation" with Special Counsel Robert Mueller's team, per ABC. Flynn is prepared to testify that Donald Trump directed him to contact the Russians as president-elect, not as a candidate, ABC News reports, correcting their earlier report.
Why it matters: Trump has denied having, or being aware of, any contact with the Russians during the campaign. A former senior aide to Flynn and ABC contributor, Richard Frankel, said "if there are bodies buried so to speak, General Flynn would know about them."
Sen. John Cornyn is telling reporters that Republicans have enough votes to pass tax overhaul legislation, the AP reports. Sen. Bob Corker, an opponent of the bill, also told the Wall Street Journal the bill will "probably" pass.
Our thought bubble: Until bill specifics are released, it's uncertain how holdout Republicans will vote.
The real danger with North Korea, according to CFR President Richard Haass, author of "A World in Disarray" (out in paperback Jan. 2) is that "if there were to be some kind of an incident — say, North Korea puts radar on an American B-1 bomber, and ships collide or get too close to one another at sea," he said talking to Joe Scarborough and Mika Brzezinski on "Morning Joe."
Why it matters: "Does anyone seriously think that these two governments, given the level of vitriol, are in a position to manage a crisis — say, in the way that Kennedy and Khrushchev managed to do at the Cuban missile crisis?"
Michael Flynn is expected to plead guilty to lying to the FBI about his conversations with the former Russian Ambassador this afternoon. What's not included in the charges against Flynn is his foreign work for Turkey last year, which was the subject of investigations earlier this year after foreign interests led Flynn to delay an Obama administration military attack on ISIS.
Why it matters: While Mueller doesn't seem as interested in his foreign work, Flynn did not legally lobby for a foreign country, which doesn't seem to help his case.
President Trump tweeted this morning about the not guilty verdict in the Kate Steinle murder trial, claiming the crime took place thanks to Obama-era immigration policies and stating that Democrats will pay the price in upcoming elections:
Senate Republicans are working to find hundreds of billions of dollars in revenue for their tax bill, in an attempt to bring deficit hawks like Sens. Bob Corker and Jeff Flake onboard. After delaying votes on the bill last night, they'll resume voting Friday morning.
Be smart: Aides say they still hope to bring all 52 Republicans to yes. But it's going to be extremely hard to find ways to raise as much as $500 billion in revenue overnight, and raising taxes could lose other members.
Over the summer, President Trump pressed Senate Republicans to end the Russia investigation, according to the New York Times.
Why it matters: While Republicans "downplayed Mr. Trump's appeals...as the actions of a political newcomer unfamiliar with what is appropriate," Trump spoke with several members of the party, including Sen. Richard Burr, the intelligence committee chairman. Part of special counsel Mueller's investigation is whether or not Trump tried to obstruct justice by firing former FBI Director James Comey.
A San Francisco jury has found Jose Ines Garcia Zarate not guilty in the murder of Kate Steinle in 2015.
Why it matters: Steinle's murder was the backbone of a law voted on by the House earlier this year, called Kate's Law, which was originally introduced in 2015. The law would make punishment for convicted and deported criminals more severe if they re-entered the country. Garcia Zarate is a Mexican citizen who was released from jail after a federal request to hold him for his sixth deportation from the United States, according to the San Francisco Chronicle. He had "a history of drug crimes but no record of violence," per the Chronicle.
Trump has been telling those close to him that a government shutdown would bode well for him politically, the Washington Post reports. His rationale is reportedly that refusing to budge on immigration will curry favor with his base of supporters who were unhappy he struck a debt ceiling deal with Democrats in the fall.
Why it matters: The deadline to pass a spending bill and avoid shutdown is Dec. 8, though the Post reports that there have been talks to pass a temporary extension to Dec. 22 or later if Democrats and Republicans can't reach a deal.
Majority Leader Mitch McConnell said that the next votes on the tax bill will take place at 11 a.m. on Friday. Debate will continue tonight.
Why it matters: It's a clear sign that Senate Republican leaders don't have the votes to pass the bill yet. They'll have to get a deal with Republicans who are worried about the bill's impact on the deficit, now that a proposed fiscal “trigger" is off the table
