Nov 15, 2017

Why you should care about “chained CPI"

Senate Finance Committee chairman Orrin Hatch begins the committee’s work on the tax bill. Photo: Pablo Martinez Monsivais / AP

The Wall Street Journal’s Greg Ip has a smart story about the new inflation measure that’s included in the House and Senate tax bills. Instead of the Consumer Price Index, which economists believe overstates the cost of living, it would use a measure called “chained CPI,” which may be more accurate, but also rises more slowly than the regular CPI.

Why it matters: Some people will get pushed into higher tax brackets faster than they would have under the old measure. It helps Republicans pay for the tax bill, because it’ll raise $130 billion in revenue over 10 years. But it’s also safe to say that most Americans who aren’t tax experts will have no idea of the impact until it hits them.

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Repatriated American citizens have doubled coronavirus cases in U.S.

Face mask discarded outside the Diamond Princess cruise ship. Photo: Tomohiro Ohsumi/Getty Images

The official number of confirmed cases of the novel coronavirus in the U.S. just doubled — to 34 — but public health officials are pointing out that these are mostly people who've been repatriated.

Why it matters: As concerns grow about a global pandemic, officials from the Centers for Disease Control and Prevention want to make sure the message gets out: "We are not seeing community spread here in the United States," Nancy Messonnier says.

Bernie opens up massive lead among college students

Data: College Reaction; Note: ±3.4 margin of error; Chart: Axios Visuals

In the last two months, Bernie Sanders has surged 20 points among college students to become the group's clear 2020 favorite, according to a new College Reaction/Axios poll.

Why it matters: The numbers reflect the extent to which young Democratic voters are embracing socialism and rejecting moderate choices.

Situational awareness

Photos: Jeff Kowalsky/AFP via Getty Images; Alex Wong/Getty Images

Catch up on today's biggest news:

  1. Bloomberg campaign says Tennessee vandalism "echoes language" from Bernie supporters
  2. Scoop: New White House personnel chief tells Cabinet liaisons to target Never Trumpers
  3. Trump misrepresents 2020 Russia briefing as Democratic "misinformation"
  4. Bernie Sanders takes aim at Bloomberg: "Trump will chew him up and spit him out"
  5. Nearly half of Republicans support pardoning Roger Stone
  6. Scoop: Lyft acquires cartop advertising startup Halo Cars