Trump has proposed cutting the corporate tax rate from the current 39% to 15%.
Where the U.S. stands today:
Currently the U.S. has the third-highest corporate tax rate in the world, but if Trump succeeds in the tax cut, the U.S. will be among the 20 countries with the lowest corporate tax rate.
Illustration: Sarah Grillo/Axios
A medical technologist processes test samples for the coronavirus at a lab in Tampa, Florida, on June 25. Photo: Octavio Jones/Getty Images
A record 50,655 tested positive for the novel coronavirus in the United States on Wednesday, Johns Hopkins data shows.
Driving the news: The pandemic is accelerating across the U.S., with the Sun Belt being hit particularly hard. Daily coronavirus case records were reported on Wednesday in Texas (8,076), Arizona (4,878), Georgia (2,946), North Carolina (1,843) and Tennessee (1,806).
Democratic presidential candidate and former Vice President Joe Biden at Philadelphia City Hall in Pennsylvania in June. Photo: Jim Watson/AFP via Getty Images
Former Vice President Joe Biden and the Democratic Party raised $141 million in June, his campaign announced on Wednesday night.
Why it matters: It's the most the presumptive Democratic presidential nominee has raised in a month. It's also more than the record $131 million President Trump's re-election campaign and the Republican National Committee raised last month.