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The annual black-tie dinner of the Alfalfa Club is the board meeting of America's establishment: The 750 guests tonight include Warren Buffett, Tim Cook, Jamie Dimon, Bill Gates, Bob Gates, Vernon Jordan, Charlie Rose, Jeb Bush, James Baker and plenty more moguls and grandees. The head table, stretching across a giant ballroom, includes the Cabinet, the congressional leadership and the cream of the diplomatic corps.

President Trump's name is in the program, seated between Michael Bloomberg and Chief Justice Roberts.

But in a shot at the swamp, Trump isn't coming. The White House says he'll be working, and never committed to going. Vice President Pence is still expected and some West Wing officials, including Kellyanne Conway, plan to attend. Chief strategist Steve Bannon was going, but now will be with the president in some briefings.

Others from the Trump inner circle who are expected: Jared Kushner, Reince Priebus, Gary Cohn, Hope Hicks, deputy chief of staff Katie Walsh, CIA Director Mike Pompeo, incoming SecState Rex Tillerson, incoming SecDef James Mattis and incoming Commerce Secretary Wilbur Ross. Dina Powell, Trump's senior counselor for economic initiatives, is a "sprout" – an inductee to Alfalfa.

The evening includes funny speeches, with plenty of barbs aimed at the president. During the debate over whether Trump should go, some aides worried that a zinger might rankle the boss. Now they won't have to fret about the piercing comedy stylings of Mayor Bloomberg and Erskine Bowles.

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Go deeper

Dan Primack, author of Pro Rata
14 mins ago - Politics & Policy

Democrats' billionaires tax explained

Illustration: Aïda Amer/Axios

There is now legislative language behind the push to tax American billionaires on unrealized capital gains, as Sen. Ron Wyden last night released his 107-page plan.

Why it matters: This would be a sea change in U.S. tax policy, which has only applied to realized gains (otherwise known as income).

1 hour ago - World

Scoop: Blinken protests Israel settlements approval in "tense" phone call

Benny Gantz (L) and Tony Blinken. Photo: Jacquelyn Martin/Pool/AFP via Getty

Secretary of State Tony Blinken protested the decision to approve 3,000 new housing units in Israeli settlements in the occupied West Bank during a tense phone call on Tuesday with Israeli Defense Minister Benny Gantz, three Israeli officials tell me.

Why it matters: This is the first time new construction in the settlements has been approved since President Biden assumed office, and the Biden administration had been privately pressing the Israeli government not to proceed.

The startup that wants to disrupt big internet providers

Illustration: Maura Losch/Axios

A new startup backed by funding from AOL founder Steve Case and Laurene Powell Jobs wants to break up broadband monopolies across the country.

Why it matters: Internet access has been crucial during the pandemic, but it's not ubiquitous, and it can be both slow and unaffordable in swaths of the country.

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