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Sen. Rand Paul (R-Ky.) tore into his fellow Republicans on Fox News Wednesday for considering a coronavirus relief package that could cost more than $1 trillion, calling on them to apologize to President Obama "for complaining that he was spending and borrowing too much" during his time in office.

Why it matters: Paul's comments, while tongue-in-cheek, underscore the divisions within the Senate Republican conference, where as many as 20 GOP senators are likely to vote against any coronavirus relief bill — even if a deal is reached between Democrats and Trump administration.

The state of play: House Speaker Nancy Pelosi said Tuesday that she's willing to settle for a price tag of $3.4 trillion, which is the cost of the relief package that House Democrats passed in May. White House chief of staff Mark Meadows said Wednesday that he's "extremely doubtful" the two sides will reach a deal if negotiations continue past Friday.

What they're saying: "Republicans and Democrats compromise every day of the year to spend money we don't have. We were already running a trillion dollars short just with our normal budgetary expenses for the year. We added $3 trillion, now they're talking about another $1-$2 trillion. We're going to borrow another $5 trillion in five months," Paul told Fox News.

  • "They might lose this election because they are acting like Democrats now. I am very upset with my colleagues. They went 8 years. They should apologize now to President Obama for complaining he was spending and borrowing too much. He was a piker compared to their borrowing and what they're doing now."

Go deeper: GOP Sen. Sasse slams Mnuchin and Pelosi as "big government Democrats"

Go deeper

Updated Nov 10, 2020 - Politics & Policy

Schumer, McConnell re-elected as Senate leaders

Photo: Stefani Reynolds/Getty Images

The Senate Democratic caucus re-elected Minority Leader Chuck Schumer (D-N.Y.) and added Sens. Cory Booker (D-N.J.) and Catherine Cortez Masto (D-Nev.) to its leadership ranks, a Senate Democratic source tells Axios.

Why it matters: The re-election of the full Senate Democratic leadership team comes after a relatively disappointing general election in which the party failed to win outright control of the Senate, despite record amounts of fundraising. Democrats still have a chance to become the Senate majority if they win a pair of Georgia runoffs in January.

The rebellion against Silicon Valley (the place)

Photo illustration: Sarah Grillo/Axios. Smith Collection/Gado via Getty Images

Silicon Valley may be a "state of mind," but it's also very much a real enclave in Northern California. Now, a growing faction of the tech industry is boycotting it.

Why it matters: The Bay Area is facing for the first time the prospect of losing its crown as the top destination for tech workers and startups — which could have an economic impact on the region and force it to reckon with its local issues.

Erica Pandey, author of @Work
1 hour ago - Economy & Business

Telework's tax mess

Illustration: Annelise Capossela/Axios

As teleworkers flit from city to city, they're creating a huge tax mess.

Why it matters: Our tax laws aren't built for telecommuting, and this new way of working could have dire implications for city and state budgets.