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Senate Finance Committee Chairman Orrin Hatch (R-Utah) at a panel to overhaul the nation's tax code. Photo: J. Scott Applewhite / AP

Ding dong, the dumb deal is dead.

Sen. Orrin Hatch, chair of the Senate Finance Committee, released markups to the Senate tax plan, and gone was the bit about taxing stock options and restricted stock units at the time of vesting. Moreover, it largely mirrored a House plan to allow startup employees to defer taxes on exercised options until there is a liquid market for the underlying securities.

Other big changes:

  • Individual tax cuts would expire in 2025, but the corporate cut to 20% would be permanent. Certain new pass-through entity rules also would be temporary.
  • Obamacare's individual mandate would be revoked, thus decreasing the likelihood of tax legislation actually getting passed in 2017 (which the stock markets have clearly noticed).

Go deeper

Tech scrambles to derail inauguration threats

Illustration: Sarah Grillo/Axios

Tech companies are sharing more information with law enforcement in a frantic effort to prevent violence around the inauguration, after the government was caught flat-footed by the Capitol siege.

Between the lines: Tech knows it will be held accountable for any further violence that turns out to have been planned online if it doesn't act to stop it.

Dave Lawler, author of World
1 hour ago - World

Uganda's election: Museveni declared winner, Wine claims fraud

Wine rejected the official results of the election. Photo: Sumy Sadruni/AFP via Getty

Yoweri Museveni was declared the winner of a sixth presidential term on Saturday, with official results giving him 59% to 35% for Bobi Wine, the singer-turned-opposition leader.

Why it matters: This announcement was predictable, as the election was neither free nor fair and Museveni had no intention of surrendering power after 35 years. But Wine — who posed a strong challenged to Museveni, particularly in urban areas, and was beaten and arrested during the campaign — has said he will present evidence of fraud. The big question is whether he will mobilize mass resistance in the streets.

Off the Rails

Episode 1: A premeditated lie lit the fire

Photo illustration: Sarah Grillo/Axios. Photo: Chip Somodevilla/Getty Images

Beginning on election night 2020 and continuing through his final days in office, Donald Trump unraveled and dragged America with him, to the point that his followers sacked the U.S. Capitol with two weeks left in his term. Axios takes you inside the collapse of a president with a special series.

Episode 1: Trump’s refusal to believe the election results was premeditated. He had heard about the “red mirage” — the likelihood that early vote counts would tip more Republican than the final tallies — and he decided to exploit it.

"Jared, you call the Murdochs! Jason, you call Sammon and Hemmer!”