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Report: Tax reform might not produce that much growth

Sen. Bob Corker is worried about adding to the federal deficit. Photo: Pablo Martinez Monsivais/AP

The GOP tax bill will not produce enough economic growth to pay for itself, which will add to the federal deficit, according to a report by the Committee for a Responsible Federal Budget. The report analyzes a series of estimates by both right- and left-leaning groups.

Why this matters: The future of the tax bill likely hinges on whether Senate deficit hawks can get onboard with increasing the debt in the next decade. The report suggests that the choice for members like Sens. Bob Corker or Jeff Flake is to either hope for an unrealistic growth scenario, decide tanking the bill isn't worth it, or vote against the cuts.

Stef W. Kight 1 hour ago
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U.S. tech giants hiring more foreign workers on H-1B visas

Prominent U.S. tech companies obtained more H-1B visas in 2017 than in 2016, according to a new study by the National Foundation for American Policy using fresh data from U.S. Citizenship and Immigration Services. At the same time, several of the largest India-based companies saw a decrease in approved petitions for the second year in a row.

The big picture: Total petitions for H-1B visas for the 2019 fiscal year fell by about 9,000, mostly due to a decreasing numbers of H-1B petitions from India-based firms. However, the study shows there is still a strong demand for H-1Bs in the U.S.

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Yes, there really is a lot of space junk

This visualization shows the 15,723 objects being tracked in low-Earth orbit by the U.S. military's Joint Space Operations Command — including nearly 13,000 that are classified as space debris.

Data: Space-Track; Note: Perigee is the point in a object's orbit where it is closest to Earth. Chart: Lazaro Gamio/Axios

Why it matters: As space opens up to more nations, companies and possibly non-profits, concerns are growing about how to track the growing amount of debris. This week, Vice President Pence announced a "comprehensive space traffic management policy" to address the issue.