Axios Dec 3
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Trump considers bumping up corporate tax rate

The sky over the Capitol was lit up at dawn on Thursday. Photo: J. Scott Applewhite / AP

"Hours after the pre-dawn passage of a $1.5 trillion tax cut, President Trump suggested for the first time ... that he would consider a higher corporate rate than the one Senate Republicans had just endorsed," the WashPost's David Lynch and Damian Paletta report in the paper's lead story:

  • "On his way to New York for three fundraisers, Trump told reporters that the corporate tax rate in the GOP plan might end up rising to 22 percent from 20 percent."
  • Why it matters: "Moving the corporate tax rate up by 2 percentage points could raise $200 billion, money Trump might need to try to satisfy the concerns of Republicans frustrated that the plan does not reduce top individuals' tax rates enough or of others such as Sen. Marco Rubio (Fla.), who argued that the bill should do more for low-income families."
  • Rubio tweeted: "For days heard that anything more than 20% corp rate would be anti-growth & catastrophic. Less than 12 hours later 22% is now an option?"
Dan Primack 9 hours ago
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Why the stock markets are tanking

Stock market trader adjusts his glasses.
Photo by Xinhua/Wang Ying via Getty Images

Stock markets are down sharply on Thursday, with the Dow Jones Industrial Average off around 1.25% as of 2 p.m. EST.

Three key drivers: Tariffs, inter-bank lending rates and Facebook's troubles.

Caitlin Owens 11 hours ago
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How Congress missed yet another chance for an immigration deal

Congressional leaders with President Trump
Congressional leaders with President Trump. Photo: Olivier Douliery - Pool / Getty Images

Congressional leaders and the White House failed to come to an agreement on temporary protections for Dreamers over the past week as part of the giant spending bill, leaving the issue unresolved.

Why it matters: After all of the fighting over President Trump's decision to end DACA — including a government shutdown over it — the White House and Congress ended up with nothing. The issue is currently tied up in the courts. And though both sides agree it's better to give Dreamers more certainty over their future, they just can't agree how to do it.