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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Amy Harder, author of Generate
20 mins ago - Energy & Environment

Climate change goes mainstream in presidential debate

Photo illustration: Aïda Amer/Axios. Photo: Olivier Douliery-Pool/Getty

The most notable part of Thursday’s presidential debate on climate change was the fact it was included as a topic and assumed as a fact.

The big picture: This is the first time in U.S. presidential history that climate change was a featured issue at a debate. It signals how the problem has become part of the fabric of our society. More extreme weather, like the wildfires ravaging Colorado, is pushing the topic to the front-burner.

Finally, a real debate

Photo: Morry Gash/AP

A more disciplined President Trump held back from the rowdy interruptions at tonight's debate in Nashville, while making some assertions so outlandish that Joe Biden chuckled and even closed his eyes.

  • A Trump campaign adviser told Axios: "He finally listened." 

The result: A real debate.

Biden to Trump: "I have not taken a penny from any foreign source ever in my life"

Former VP Joe Biden pushed back Thursday against allegations from President Trump, saying he had never profited from foreign sources. "Nothing was unethical," Biden told debate moderator Kristen Welker about his son Hunter's work in Ukraine while he was vice president.

Why it matters: Earlier on Thursday, Hunter Biden's former business partner, Tony Bobulinski, released a statement saying Joe Biden's claims that he never discussed overseas business dealings with his son were "false."