Feb 16, 2017

The Obamacare mess is screwing up tax reform

Cowen has a note this morning saying the path ahead for tax legislation has grown more muddled in the past two weeks as Republicans tie themselves in knots over how to proceed with Obamacare repeal/replace/repair. Analyst Chris Krueger lays out the five now likely scenarios on taxes:

  1. Tax overhaul following GOP's "Better Way" plan including border adjustment (note: border-tax opponents have been winning lately)
  2. Rehash of the George W. Bush tax cuts with a 10-year sunset
  3. Combination of Obamacare and taxes in one giant bill
  4. Nothing
  5. A "Middle of Road" tax and infrastructure bill

The easiest route is #2 to get a tax-cut win and deal with the cost later. Krueger calls it the "In Emergency, Break Glass Option."

The more the legislative process breaks down on Capitol Hill, the more likely we suspect this option heads to the very top of the probability list ... Everyone is waiting to get ObamaCare off the mat and Trump to get in the ring.

Go deeper

Pentagon watchdog sidelined by Trump resigns

Fine testiying before the Senate Judiciary Committee in 2017. Photo: Drew Angerer/Getty Images

Glenn Fine, the Pentagon's principal deputy inspector general, submitted his resignation on Tuesday.

Why it matters: President Trump removed Fine as the Pentagon's acting inspector general in April 7 after a group of independent federal watchdogs selected him to lead the Pandemic Response Accountability Committee, which was set up to oversee the rollout of the $2 trillion coronavirus relief bill.

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 12 p.m. ET: 5,534,728 — Total deaths: 347,587 — Total recoveries — 2,260,945Map.
  2. U.S.: Total confirmed cases as of 12 p.m. ET: 1,667,154 — Total deaths: 98,371 — Total recoveries: 379,157 — Total tested: 14,604,942Map.
  3. 2020: Trump pushes for a polarized pandemic election.
  4. States: Michigan Gov. Gretchen Whitmer says "I can’t for the life of me understand" Trump’s antagonism toward her state — New York reports lowest number of new coronavirus deaths since March.
  5. Public health: The final data for remdesivir is in and its benefits are rather limited.
  6. Education: A closer look at how colleges can reopenNotre Dame president says science alone "cannot provide the answer" to reopening.
  7. What should I do? Hydroxychloroquine questions answeredTraveling, asthma, dishes, disinfectants and being contagiousMasks, lending books and self-isolatingExercise, laundry, what counts as soap — Pets, moving and personal healthAnswers about the virus from Axios expertsWhat to know about social distancingHow to minimize your risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it, the right mask to wear.

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Updated 46 mins ago - Politics & Policy

New York reports lowest number of daily coronavirus deaths since March

The number of daily new coronavirus cases and deaths reported in New York was the lowest since the state started its lockdown in March, Gov. Andrew Cuomo said Tuesday, calling Memorial Day a "pivot point" for New York.

By the numbers: 73 New Yorkers died from coronavirus in the past 24 hours, and 200 people tested positive. Hospitalizations and intubations also decreased.