Feb 15, 2018

Trump threatens to veto bipartisan immigration bill

Photo: Win McNamee / Getty Images

The White House released a statement Thursday coming out in full force against the bipartisan immigration bill drafted by Sens. Mike Rounds (R-SD) and Angus King (I-ME) stating that the amendment would "drastically change our national immigration policy for the worse by weakening border security and undercutting existing immigration law."

Our thought bubble, from Axios' Jonathan Swan: This is a big deal. Veto threats are rare at this stage of the legislative process. As I said in Sunday’s Sneak Peek, you should keep an eye on Sens. Tom Cotton and David Perdue. This is Trump emphasizing the extent to which the they represent his thinking on immigration, which is far more than Senate leadership or other more moderate senators. Trump is laying down a marker on immigration— and it’s a tough one. 

Bottom line: It’s hard to imagine a universe in which the bill Trump, Cotton and Perdue want gets 60 votes in the Senate. And it’s equally hard to imagine the Senate passing an immigration bill that will satisfy Trump or the more conservative Republicans in the House. 

Later, Trump also tweeted his criticism of the bipartisan bill:

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SoftBank to cut its stake to get T-Mobile's Sprint deal done

Illustration: Rebecca Zisser/Axios

T-Mobile and Sprint announced a revised merger agreement that will see SoftBank getting a smaller share of the combined company, while most shareholders will receive the previously agreed upon exchange rate. The companies said they hope to get the deal as early as April 1.

Why it matters: The amended deal reflects the decline in Sprint's business, while leaving most shareholders' stake intact and removing another hurdle to the deal's closure.

Trump indulges Wall Street with Milken pardon

Photo Illustration: Sarah Grillo/Axios. Photo: Chris Graythen/Getty Images

Donald Trump loves Wall Street shenanigans. Companies owned by him have declared bankruptcy six different times, and he was once sued alongside Mike Milken for participating in a scheme to artificially inflate junk-bond prices.

Driving the news: Trump pardoned Milken this week, with an official statement positively gushing over Milken's role in developing the wilder side of fixed-income capital markets.