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.

Go deeper

3 hours ago - World

Macron visits Beirut promising a "new political pact" for Lebanon

Macron visits the hard-hit Gemmayzeh neighborhood. Photo: AFP via Getty Images

French President Emmanuel Macron walked through the blast-damaged streets of Beirut on Thursday, swarmed by people chanting for the fall of Lebanon's government and pleading for international aid.

Why it matters: Lebanon is at a breaking point. Its economy was collapsing and its government hardly functioning — all before a massive explosion destroyed swathes of the capital city, including its vital port.

3 hours ago - Sports

The PGA Championship is golf's first major in over a year

Photo: Gary Kellner/PGA of America via Getty Images

The 2020 PGA Championship tees off Thursday at San Francisco's TPC Harding Park, which is hosting its first-ever major.

Why it matters: It's the first major in more than a year — and the first of seven majors in the next 12 months. Though there won't be any fans in attendance, the excitement is palpable.

July's jobs report could be an inflection point for the coronavirus recovery

Illustration: Sarah Grillo/Axios

Even if Friday's jobs report shows a big number, it is becoming clear hiring slowed and likely even reversed course in July and real-time indicators suggest the employment situation worsened into August.

Driving the news: Payroll processor ADP's monthly jobs report showed private companies added 167,000 jobs last month, well below the 1.2 million expected by economists and far below June's 4.8 million jobs added.