Dec 20, 2017

Trump congratulates GOP on passage of tax bill

President Trump and Vice President Mike Pence walked onto the South Lawn of the White House Wednesday to cheers and fist pumps before delivering a congratulatory speech on the passage of the GOP tax bill.

Trump, rattling off several names of the people who played a role in the passage of "the largest tax cut in the history of our country," said he "had a lot of fun" working with leadership to get this done. It was fun because "we won."

Other speakers:

  • Majority Leader Mitch McConnell: "This has been a year of extraordinary accomplishment for the Trump administration," he said, citing Neil Gorsuch's Supreme Court confirmation, Circuit Court judge confirmations, regulatory rollback, and now the tax bill.
  • House Speaker Paul Ryan: "Something this big, something this profound could not have been done without exquisite presidential leadership."
  • VP Mike Pence: "We made history today but as the President said... we're just getting started! This administration will not rest until the forgotten men and women of this country are forgotten no more."
  • House Ways and Means Committee Chairman Rep. Kevin Brady said he knew overhauling the tax code would be possible when Trump was elected.

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Fed temporarily lifts Wells Fargo's growth restrictions

Photo: Streeter Lecka/Getty Images

The Federal Reserve said Wednesday it will temporarily lift Wells Fargo’s growth restrictions, which were put in place following the bank’s customer abuse scandals.

Why it matters: The Fed’s only reason for lifting the cap is so Wells Fargo can dole out more loans to struggling small businesses as part of the government’s coronavirus aid package. Earlier this week, the bank said it could only lend a total of $10 billion, thanks to Fed restrictions that it can’t grow its assets beyond $1.95 trillion.

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 12 p.m. ET: 1,450,343 — Total deaths: 83,568 — Total recoveries: 308,617Map.
  2. U.S.: Total confirmed cases as of 12 p.m. ET: 399,979 — Total deaths: 12,912 — Total recoveries: 22,539Map.
  3. Business updates: Roughly one-third of U.S. apartment renters didn't make April payments.
  4. Federal government latest: The U.S. has begun to see "glimmers of hope" despite its highest recorded number of deaths in 24 hours, Anthony Fauci said.
  5. Public health latest: Surgeon General Jerome Adams highlighted the disproportionate impact the illness is having on African-American communities.
  6. World latest: Indians look to Taiwan amid China's coronavirus missteps
  7. 🚌 Public transit: Systems across the country are experiencing ridership collapse, squeezed funding streams and slow recovery from the pandemic.
  8. What should I do? Pets, moving and personal healthAnswers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  9. Other resources: CDC on how to avoid the virus, what to do if you get it.

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Bernie Sanders suspends presidential campaign

Photo: ANDEL NGAN/AFP via Getty Images

Sen. Bernie Sanders announced Wednesday that he is suspending his presidential campaign.

The big picture: It's an end to the campaign of the leading progressive in the race — and the candidate who seemed to be the clear front-runner for the Democratic nomination just a few months ago. It also makes Biden the presumptive Democratic nominee four months before the party's convention in Milwaukee.