Sen. Orrin Hatch, R-Utah on Captiol Hill. Photo: J. Scott Applewhite / AP File

Senate Finance Committee chairman Orrin Hatch, one of the "Big Six" tax negotiators, says tax reform will take a lot of cooperation between the Democrats and Republicans. Why? Because once it reaches the floor for a vote, there will be "doubling and tripling of the ideas of people who have been waiting for a long time... [to] put their own ideas and imprint on it."

Other highlights from his interview with CNBC's Ylan Mui:

  • What will happen if Congress lets it slip into 2018? "[I]f it does, it does but I actually believe we know enough about it that we can do it in 2017."
  • On Trump's goal of a 15% corporate tax rate: "I sincerely doubt we'll be able to get that level on the corporate tax rates. But, you know, we have to bring them down..."

Go deeper: The next steps for tax reform (and why GOP is still stuck)

Go deeper

Updated 40 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Americans feel Trump's sickness makes him harder to trustFlorida breaks record for in-person early voting — McConnell urges White House not to strike stimulus deal before election — Republican senators defend Fauci as Trump escalates attacks.
  2. Health: The next wave is gaining steam.
  3. Education: Schools haven't become hotspots — University of Michigan students ordered to shelter-in-place.
  4. World: Ireland moving back into lockdown — Argentina becomes 5th country to report 1 million infections.

Report: Goldman to settle DOJ probe into Malaysia's 1MDB for over $2B

Illustration: Lazaro Gamio/Axios

Goldman Sachs has agreed with the Department of Justice to pay over $2 billion for the bank's role in Malaysia's multi-billion dollar scandal at state fund 1MDB, Bloomberg first reported.

Why it matters: The settlement, expected to be announced within days, would allow Goldman Sachs to avoid a criminal conviction in the U.S. over the bribery and money laundering scandal that saw three of its former bankers banned for life from the banking industry by the Federal Reserve Board.

Trump threatens to post "60 Minutes" interview early after reportedly walking out

Trump speaks to reporters aboard Air Force One, Oct. 19. Photo: Mandel Ngan/AFP via Getty Images

President Trump tweeted on Tuesday that he was considering posting his interview with CBS' "60 Minutes" prior to airtime in order to show "what a FAKE and BIASED interview" it was, following reports that he abruptly ended the interview after 45 minutes of taping.

Why it matters: Trump has escalated his war on the media in the final stretch of his re-election campaign, calling a Reuters reporter a "criminal" this week for not reporting on corruption allegations about Hunter Biden and disparaging CNN as "dumb b*stards" for the network's ongoing coronavirus coverage.

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