Dec 9, 2017

Tax cuts could be too good for the economy

A recruiter from the postal service, right, speaks with an attendee of a job fair in Cheswick, Pa. Photo: Keith Srakocic / AP

The New York Times today reports the U.S. "economy's vital signs are stronger than they have been in years." Particularly in light of yesterday's news the economy added 228,000 jobs in November and the unemployment rate stayed at 4.1%.

Why it matters: The $1.5 trillion tax cut Congress is expected to approve by the end of the year would provide an added boost the economy at the wrong time. As the Times writes: "With unemployment so low and the economy fundamentally healthy, a tax cut could lead the economy to grow too quickly, pushing up inflation and forcing the Federal Reserve to raise interest rates faster than planned."

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In photos: Protesters clash with police nationwide over George Floyd

Police officers grapple with protesters in Atlanta. Photo: Elijah Nouvelage/Getty Images

Police used tear gas, rubber bullets and pepper spray as the protests sparked by the killing of George Floyd spread nationwide on Friday evening.

The big picture: Police responded in force in cities ranging from Atlanta to Des Moines, Houston to Detroit, Milwaukee to D.C. and Denver to Louisville. In Los Angeles, police declared a stretch of downtown off limits, with Oakland issuing a similar warning.

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Supreme Court sides with California on coronavirus worship service rules

The Supreme Court has ruled 5-4, with Chief Justice John Roberts joining the court's liberal justices, to reject a challenge to California's pandemic restrictions on worship services.

Why it matters: This is a setback for those seeking to speed the reopening of houses of worship, including President Trump.

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 10 p.m. ET: 5,923,432— Total deaths: 364,836 — Total recoveries — 2,493,434Map.
  2. U.S.: Total confirmed cases as of 10 p.m. ET: 1,745,930 — Total deaths: 102,808 — Total recoveries: 406,446 — Total tested: 16,099,515Map.
  3. Public health: Hydroxychloroquine prescription fills exploded in March —How the U.S. might distribute a vaccine.
  4. 2020: North Carolina asks RNC if convention will honor Trump's wish for no masks or social distancing.
  5. Business: Fed chair Powell says coronavirus is "great increaser" of income inequality.
  6. 1 sports thing: NCAA outlines plan to get athletes back to campus.