Axios Feb 1
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Tax bill means debt limit action needed sooner

U.S. President Donald J. Trump talks with Senate Majority Leader Mitch McConnell.
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.

Axios 11 hours ago
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Axios situational awareness

🇰🇵 North Korea to stop nuclear testing — 🇨🇳 U.S. fears Chinese tech war will get worse — 💊 A glimmer of hope on opioids🇸🇾 3 years of Syria strikes

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Khorri Atkinson 3 hours ago
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Generation Z's next battleground: lowering the voting age

Students walking out on the 19th anniversary of Columbine
Tens of thousands participate in the March for Our Lives Rally. Photo: Andrew Lichtenstein/Corbis via Getty Images

Washington, D.C. is on the verge of becoming the first major U.S. city to allow people as young as 16 to vote in local and federal elections, including for president — under a proposal that has gotten support from a majority of the District’s council and the mayor.

Why it matters: Lowering the voting age to 16 from 18 is a direct attempt to capitalize on the post-millennial generation’s brewing political activism and power that have been radically heightened by the country’s increasingly polarized climate.