U.S. President Donald J. Trump talks with Senate Majority Leader Mitch McConnell. Photo: Chip Somodevilla / Getty Images

Because the tax bill reduced government revenues, Congress must act to raise the debt limit by early March, instead of as late as April, the Congressional Budget Office said today, according to Bloomberg.

Why it matters: Failing to raise the debt limit — which would prevent the U.S. from continuing to borrow money to pay its bills — is perhaps the most dangerous of the deadlines awaiting Congress early this year. Treasury markets are already "starting to show apprehension," Bloomberg reported. A failure would be chaotic to the world economy, and could mean delays in Social Security benefit or other government payments.

Go Deeper: the Axios Facts Matter on failing to raise the debt limit and the difference between the debt limit fight and the government shutdown fight.

Go deeper

11 mins ago - Health

At least 48 local public health leaders have quit or been fired during pandemic

Former California public health director Dr. Sonia Angell on Feb. 27 in Sacramento, California. Photo: Justin Sullivan/Getty Images

At least 48 local and state-level public health leaders have retired, resigned or been fired across 23 states since April, according to a review by the AP and Kaiser Health News.

Driving the news: California public health director Dr. Sonia Angell resigned on Sunday without explanation, a few days after the state fixed a delay in reporting coronavirus test results that had affected reopenings for schools and businesses, AP reports.

House will not hold votes until Sept. 14 unless stimulus deal is reached

Photo: Mandel Ngan/AFP via Getty Images

House Majority Leader Steny Hoyer (D-Md.) announced Monday that the House will not hold any floor votes until Sept. 14, though members will remain on 24-hour notice to return to Washington in case a deal on coronavirus stimulus is reached.

Why it matters: Democrats and the Trump administration remain deadlocked and have not met since negotiations broke down without a deal on Friday.

Updated 53 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Global: Total confirmed cases as of 3 p.m. ET: 19,936,547 — Total deaths: 732,467 — Total recoveries — 12,144,510Map.
  2. U.S.: Total confirmed cases as of 3 p.m. ET: 5,063,770 — Total deaths: 163,156 — Total recoveries: 1,656,864 — Total tests: 61,792,571Map.
  3. Business: Richer Americans are more comfortable eating out.
  4. Public health: How America can do smarter testing.
  5. Sports: The cost of kids losing gym class — College football is on the brink.
  6. World: Europe's CDC recommends new restrictions amid "true resurgence in cases."