Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Michael Cohen. Photo: Yana Paskova/Getty Images

Prosecutors from New York’s Southern District are recommending a "substantial term of imprisonment" for President Trump's former lawyer, Michael Cohen, for campaign finance and tax violations, as well as lying to Congress, despite his cooperation with the investigation.

The two big revelations from that memo and a separate sentencing filing released Friday by special counsel Robert Mueller and his team:

  • Mueller's team disclosed that a Russian national reached out to Cohen in November 2015 and claimed they could offer the Trump campaign "synergy on a government level."
  • The federal prosecutors revealed that Cohen paid off two women "in coordination with and at the direction of" then-candidate Donald Trump — described as "Individual 1" — to hide his extramarital affairs.

Mueller and his team are not taking a position on what amount of prison time Cohen should serve, but said "any sentence of incarceration" the court in New York recommends would be "appropriate."

Southern District of New York

Federal prosecutors noted that Cohen committed four "separate and serious" crimes over several years — "willful tax evasion, making false statements to a financial institution, illegal campaign contributions, and making false statements to Congress" — and recommended he serve 42 months in prison.

  • Between 2012 and 2016, "Cohen evaded taxes by failing to report more than $4 million in income" to the IRS.
  • In December 2015, Cohen applied for a home equity line and "made false statements about his net worth and monthly expenses" — the latest in a series of lies he told in credit applications.
  • During the 2016 presidential campaign, Cohen paid off two women "in coordination with and at the direction of" then-candidate Donald Trump to suppress stories about affairs and prevent them from influencing the election.
  • Cohen also made false statements to Congress, which have been outlined in his guilty plea in the Mueller investigation.
Mueller investigation

Mueller's filing notes that Cohen has "gone to significant lengths to assist the Special Counsel's investigation" and has met with the special counsel's office on 7 occasions.

  • Cohen provided information about his contacts with "Russian interests," including his and others’ involvement in the Moscow Project and Russians’ outreach to the campaign.
  • In November 2015, a Russian national claiming to be a "trusted person" in the Russian Federation reached out and said they could offer the Trump campaign "synergy on a government level." The person repeatedly offered to set up a meeting between Trump and Vladimir Putin, but Cohen did not follow up on the invitation.
  • "[B]y virtue of his regular contact with Company executives during the campaign," Cohen provided the Special Counsel's office "useful information concerning certain discrete Russia-related matters core to its investigation."
  • The White House link: Cohen provided "relevant and useful information" about his contacts with "persons connected to the White House" from 2017 to 2018.

What's next: Cohen has "committed to continuing to assist the [office's] investigations."

Go deeper: Read the two memos

Go deeper

"Atmospheric river" swings Northern California from drought to flood

Satellite view of the bomb cyclone swirling off the coast of the Pacific Northwest and the atmospheric river affecting California on Oct. 24. Photo: CIRA/RAMMB

A series of powerful "atmospheric river" storms are delivering historic amounts of rainfall across parts of drought-stricken California and the Pacific Northwest — triggering widespread power outages and flooding.

Why it matters: The strong atmospheric river, packing large amounts of moisture, is causing Northern California to whiplash from drought to flood.

“You blew it”: GOP activist turns on corporations over vaccine mandates

The chairman of the American Conservative Union said on "Axios on HBO" he accepts "Joe Biden is my president, and I want him to succeed," but predicted Republicans retake the House and Senate in 2022 — with greater than 50% odds Donald Trump runs in 2024.

The big picture: In a joint interview with his wife, Mercedes, Matt Schlapp also refused to share their vaccination status. And he told corporate America "you blew it" by embracing vaccine mandates and liberal social stances that have alienated GOP voters and politicians.

2 hours ago - Politics & Policy

Pelosi expects “billionaire’s tax” to pay for Biden social spending

Photo: Yasin Ozturk/Anadolu Agency via Getty Images

House Speaker Nancy Pelosi (D-Calif.) said Sunday she expects the chamber to pass the bipartisan infrastructure plan by week’s end, and alternatives to corporate tax hikes and a “billionaires tax” will be used to finance President Biden’s promised expansion to the social safety net.

Why it matters: Pelosi’s comments come as House and Senate leaders try to wrap up a deal. What will get cut — and how the remainder will be paid — are linchpins to a final agreement.