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.

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Updated 15 mins ago - World

At least 50 killed, 3,000 injured after massive explosion rocks Beirut

Photo: Anwar Amro/AFP via Getty Images

A major explosion has slammed central Beirut, Lebanon, damaging buildings as far as several miles away and injuring scores of people.

Driving the news: Lebanon's health minister said in televised remarks that more than 50 people have been killed and over 3,000 injured. Prime Minister Hassan Diab said the explosions occurred at a warehouse that had been storing 2,750 tons of ammonium nitrate for the past six years, per NBC.

"Mulan" will head to Disney+, home to more than 60 million subscribers

An outdoor ad for Disney's "Mulan" in Hollywood, California. Photo: Rich Fury/Getty Images

Disney announced Tuesday that its most highly-anticipated blockbuster of the year, the live-action remake of "Mulan," is heading to Disney+ on Sept. 4 for consumers to purchase for a premium access fee of $29.99. The movie's theatrical debut had previously been delayed four times.

Why it matters: It's a huge blow to movie exhibitors across the country that were relying on the Disney hit to come exclusively to theaters for at least a few months before being made available to consumers at home via streaming.

Updated 57 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 5:30 p.m. ET: 18,380,616 — Total deaths: 696,389 — Total recoveries — 10,973,850Map.
  2. U.S.: Total confirmed cases as of 5:30 p.m. ET: 4,751,853 — Total deaths: 156,301 — Total recoveries: 1,513,446 — Total tests: 57,543,852Map.
  3. States: New York City health commissioner resigns in protest of De Blasio's coronavirus response — Local governments go to war over schools.
  4. Public health: 59% of Americans support nationwide 2-week stay-at-home order in NPR poll.
  5. Politics: Trump's national security adviser returns to work after coronavirus recovery Republicans push to expand small business loan program.
  6. Sports: Indy 500 to be held without fansRafael Nadal opts out of U.S. Open.