Aug 1, 2017

Schumer: "real potential" for bipartisan deal on tax reform

J. Scott Applewhite / AP

Forty-five members of the Senate's Democratic Caucus signed a letter to the Republican leadership outlining three objectives on tax reform: it should not increase taxes for the middle class or cut taxes for the top 1% of earners, it should follow "regular order" on the Senate floor, and it should not add to the budget deficit.

Tax reform will have a similar fate in the Senate if negotiated behind closed doors like health care, Minority Leader Chuck Schumer told reporters Tuesday. "There's real potential for bipartisan support on tax reform … We're not gonna get it all our way. There're going to be compromises," Schumer said.

The stakes: After the dramatic failure of Affordable Care Act repeal, the pressure is on for Republicans to pass tax reform legislation ahead of the midterm elections.

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Ashley Gold

1 hour ago - Technology

Congress' next moves to rein in Big Tech

Illustration: Eniola Odetunde/Axios

After grilling the CEOs of Amazon, Facebook, Google and Apple last week, members of Congress are grappling with whether to accuse any of the firms of illegal anticompetitive behavior, to propose updating federal antitrust laws — or both.

The big picture: Congress is just one arm of government making the case against these companies. Google is expected to be the first of the firms to face possible antitrust litigation from the Justice Department before summer's end, but all four face a full-court press of investigations by DOJ, the Federal Trade Commission and state attorneys general.

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Eileen Drage O'Reilly

2 hours ago - Health

Fauci: Coronavirus task force to examine aerosolized spread

A sneeze. Photo: Maartje van Caspel/Getty Images

The White House coronavirus task force will examine more closely just how much SARS-CoV-2 might be transmitted via aerosols, and not just from droplets, NIAID director Anthony Fauci said Wednesday at an online forum sponsored by Harvard T.H. Chan School of Public Health.

Why it matters: The longer the coronavirus can remain infectious in the air, the more likely it can infect people, particularly indoors — leading to the possible need to alter air filtration and circulation within buildings.

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Dion Rabouin, Kim Hart

2 hours ago - Economy & Business

The next wave to hit Main Street

Illustration: Eniola Odetunde/Axios

Call it the great retail wash. A wave of defaults, bankruptcies and evictions expected in cities across the U.S. is poised to remake the retail landscape across the country, but there may be some upside for consumers and small businesses.

Why it matters: Rather than an overnight descent into a collection of urban wastelands full of Starbucks, Amazon fulfillment centers, Chase bank branches and nothing else, the coronavirus pandemic and resulting retail apocalypse may just mean that, in major U.S. cities, less is more.