The new tax overhaul might allow the United States might be the next base of operations for American companies that make a significant amount of cash via their intellectual property, per The Wall Street Journal. Foreign-derived intangible income, the money that companies make overseas on U.S.-produced goods that utilize their IP, will be taxed at 13.125% through 2025 and 16.4% thereafter, down from a previous top rate of 35%.

Why it matters: Ireland's similar tax break on intellectual property, known affectionately as the "Double Irish," ends after 2020. Its lucrative tax structure lured companies like Facebook and Alphabet to set up shop in Dublin, and the U.S. hopes to bring that money back home.

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Trump considering order on pre-existing condition protections, which already exist

President Trump. Photo: Jim Watson/AFP via Getty Images

President Trump announced on Friday he will pursue an executive order requiring insurance companies to cover pre-existing conditions, something that is already law.

Why it matters: The Affordable Care Act already requires insurers to cover pre-existing conditions. The Trump administration is currently arguing in a case before the Supreme Court to strike down that very law — including its pre-existing condition protections.

Updated 8 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 8:30 p.m. ET: 19,266,406 — Total deaths: 718,530 — Total recoveries — 11,671,253Map.
  2. U.S.: Total confirmed cases as of 8:30 p.m. ET: 4,928,802 — Total deaths: 161,052 — Total recoveries: 1,623,870 — Total tests: 60,415,558Map.
  3. Politics: Trump says he's prepared to sign executive orders on coronavirus aid.
  4. Education: Cuomo says all New York schools can reopen for in-person learning.
  5. Public health: Surgeon general urges flu shots to prevent "double whammy" with coronavirus — Massachusetts pauses reopening after uptick in coronavirus cases.
  6. World: Africa records over 1 million coronavirus cases — Gates Foundation puts $150 million behind coronavirus vaccine production.

Trump says he's prepared to sign executive orders on coronavirus aid

President Trump. Photo: Jim watson/Getty Images

President Trump, speaking from a podium at his golf club in Bedminster, N.J., on Friday announced that he is prepared to issue executive orders suspending payroll taxes and extending enhanced unemployment benefits through the end of 2020, and halting student loan interest and payments indefinitely.

Why it matters: The impending orders come after talks between the White House and Democratic leadership collapsed Friday afternoon. But Trump said he remains committed to striking a deal with Congress on a broader stimulus package before signing the orders.