The U.S. Capitol dome reflected in water. Photo: Jacquelyn Martin / AP

An analysis released Monday by the non-partisan Joint Committee on Taxation projects that the House tax bill would generate enough growth to produce $428 billion in revenue over ten years, per WSJ. That's less than one-third of the $1.4 trillion in tax revenue that would be lost over that time due to the cuts.

  • The bottom line: Estimates find that the bill would come nowhere near paying for itself, despite claims to the contrary from GOP leadership and Treasury Secretary Mnuchin.
  • What's next: The House and Senate are reconciling their two versions of the bill.

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Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Global: Total confirmed cases as of 1:30 p.m. ET: 20,412,501 — Total deaths: 744,649— Total recoveries: 12,629,465Map.
  2. U.S.: Total confirmed cases as of 1:30 p.m. ET: 5,163,509 — Total deaths: 164,994 — Total recoveries: 1,714,960 — Total tests: 63,252,257Map.
  3. Politics: Pelosi on state of coronavirus stimulus talks: "It's a chasm"
  4. Business: U.S. already feeling effects of ending unemployment benefits.
  5. Public health: America is flying blind on its coronavirus response.
  6. Education: Gallup: America's confidence in public school system jumps to highest level since 2004.

Pelosi on state of coronavirus stimulus talks: "It's a chasm"

Democrats and the Trump administration remain "miles apart" on negotiations over a coronavirus stimulus deal, House Speaker Nancy Pelosi (D-Calif.) said on Wednesday.

Driving the news, via Axios' Dion Rabouin: Congress' failure to renew enhanced unemployment measures for millions of Americans at the end of July is already affecting consumer spending patterns, holding down retail purchases and foot traffic, economists at Deutsche Bank say.

3 hours ago - World

U.S. threatens to veto UN peacekeeping in Lebanon over Hezbollah concerns

Peacekeepers with Lebanese troops in southern Lebanon. Photo: Jalaa Marey/AFP via Getty

The Trump administration is threatening to veto a resolution to extend the UN's long-standing peacekeeping mission in southern Lebanon if its mandate isn't changed, Israeli and U.S. officials tell me.

Why it matters: The U.S. is the main funder of the UN Interim Force in Lebanon (UNIFIL), which has an annual budget of $250 million. The veto threat is a tactical move, and part of a broader effort to put pressure on Iran and its proxy in Lebanon, Hezbollah.