Yesterday, White House Press Secretary Sean Spicer said that President Trump will soon roll out a 1986-style tax reform package that addresses both individual and corporate rates. Today we're learning a bit more, per Bloomberg.

Here are the highlights:

  • Former Goldman Sachs president Gary Cohn, now Trump's chief economic advisor, is the man in charge.
  • There is a focus on cutting individual rates for low earners. Trump also promised to slash top-earner rates during his campaign, although Treasury Secretary nominee Steve Mnuchin (also a Goldman Sachs alum) has elsewhere suggested those cuts would be offset by closing loopholes favored by the wealthy.
  • A lower tax on repatriated corporate profits could be used to help pay for Trump's massive domestic infrastructure plans.
  • Congressional Republican leaders have already been briefed on the "blueprint," which is separate from Trump's budget plan. Or, put another way, Cohn is trying to mix elements of his plan with Paul Ryan's plan, in order to achieve GOP consensus.

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Parties trade election influence accusations at Big Tech hearing

Photo: Michael Reynolds/Pool/AFP via Getty Images

A Senate hearing Wednesday with Big Tech CEOs became the backdrop for Democrats and Republicans to swap accusations of inappropriate electioneering.

Why it matters: Once staid tech policy debates are quickly becoming a major focal point of American culture and political wars, as both parties fret about the impact of massive social networks being the new public square.

1 hour ago - World

Germany goes back into lockdown

Photo: Fabrizio Bensch/Pool/AFP via Getty Images

German Chancellor Angela Merkel will enact one of Europe's strictest coronavirus lockdowns since spring, closing bars and restaurants nationwide for most of November, Reuters reports.

Why it matters: Germany is the latest European country to reimpose some form of lockdown measures amid a surge in cases across the continent.

How overhyping became an election meddling tool

Illustration: Annelise Capossela/Axios

As online platforms and intelligence officials get more sophisticated about detecting and stamping out election meddling campaigns, bad actors are increasingly seeing the appeal of instead exaggerating their own interference capabilities to shake Americans' confidence in democracy.

Why it matters: It doesn't take a sophisticated operation to sow seeds of doubt in an already fractious and factionalized U.S. Russia proved that in 2016, and fresh schemes aimed at the 2020 election may already be proving it anew.