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J. Scott Applewhite / AP

House conservatives have spent the past few days in closed-door meetings in New York sorting out their differences over the Republican legislative agenda. What we know about the private conversations, per a source in the room:

  1. They remain divided on the border adjustment tax, the most controversial — and important — part of Paul Ryan's tax plan. A source in the room tells Axios: "There was a consensus on the desire to move tax reform quickly but there are still a number of unanswered questions on the border adjustment tax... There are a number of members that believe we should move forward with reducing both personal and corporate tax rates without the border adjustment provision."
  2. They largely agree on the need to repeal Obamacare swiftly. Our source says there was "consensus that we need to move forward with a repeal vote that is at least as robust as what we have previously passed in 2015 and that we should move quickly."

The two groups gathered: The House Freedom Caucus (~40 ultra conservative Republicans) and the Republican Study Committee (178 Republicans). The two have overlapping members, and the conservative Heritage Foundation sponsored the gathering.

Go deeper

Ben Geman, author of Generate
14 mins ago - Economy & Business

GM's shrinking deal with Nikola

Illustration: Rebecca Zisser/Axios

General Motors will no longer take an equity stake in Nikola Corp. or build its pickup truck, under a revised deal that still envisions GM as a key tech supplier for Nikola's planned line of electric and fuel cell heavy trucks.

Driving the news: The revised agreement Monday is smaller in scope than a draft partnership rolled out in September that had included a $2 billion stake in the startup and an agreement to build its Badger pickup.

1 hour ago - Technology

Exclusive: Facebook's blackout didn't dent political ad reach

Photo: Valera Golovniov/SOPA Images/LightRocket via Getty Images

Americans saw more political ads on Facebook in the week before the 2020 election than they did the prior week despite the company's blackout on new political ads during that period, according to Global Witness, a human rights group that espouses tech regulation.

Why it matters: The presidential election was a key stress test for Facebook and other leading online platforms looking to prove that they can curb misinformation. Critics contend measures like the ad blackout barely made a dent.

Wall Street wonders how bad it has to get

Illustration: Aïda Amer/Axios

Wall Street is working out how bad the economy will have to get for Congress to feel motivated to move on economic support.

Why it matters: A pre-Thanksgiving data dump showed more evidence of a floundering economic recovery. But the slow drip of crumbling economic data may not be enough to push Washington past a gridlock to halt the economic backslide.