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Treasury Secretary Steven Mnuchin speaks at a news conference in Las Vegas. Photo: John Locher / AP

The Treasury Department has taken down a 2012 economic analysis that contradicts what Secretary Mnuchin has said about the effects of corporate tax cuts, the WSJ reports. What happened:

  • Mnuchin said workers benefit the most from corporate income tax cuts.
  • The 2012 analysis from the Office of Tax Analysis revealed that workers pay 18% corporate taxes, whereas owners of capital pay 82%, so cutting them impacts owners more.

A Treasury spokeswoman told the WSJ the paper was "dated" and "does not represent" current thinking at Treasury.

Go deeper

Updated 2 hours ago - Health

CDC: Vaccinated people in COVID hotspots should resume wearing masks

CDC director Rochelle Walensky and top infectious disease expert Anthony Fauci at a Senate HELP committee hearing. Photo: J. Scott Applewhite-Pool/Getty Images

The Centers for Disease Control and Prevention issued updated guidance on Tuesday recommending that vaccinated people wear masks in indoor, public settings if they are in parts of the U.S. with substantial to high transmission, among other circumstances.

Why it matters: The guidance, a reversal from recommendations made two months ago, comes as the Delta variant continues to drive up case rates across the country. Millions of people in the U.S. — either by choice or who are ineligible — remain unvaccinated and at risk of serious infection.

Olympics medal tracker

Data: International Olympic Committee; Chart: Connor Rothschild/Axios
Bryan Walsh, author of Future
3 hours ago - Politics & Policy

U.S. students fell 4 to 5 months behind during pandemic

An empty classroom in Pinole, Calif. Photo: David Paul Morris/Bloomberg via Getty Images

Elementary school students in the U.S. ended the school year four to five months behind their expected level of academic achievement, according to a new report.

Why it matters: Months of school closures and often inferior remote education eroded what schoolchildren would have learned since the pandemic began, and caused some to go backwards.