John Lewis will lie in state in the Capitol Rotunda, one of the highest American honors.
Congressional leaders announced Thursday that Representative John Lewis, Democrat of Georgia and a civil rights icon, would lie in state next week in the Capitol Rotunda, one of the highest American honors, before a viewing for the public to be held outside.
With the Capitol closed to the public amid the coronavirus pandemic, Mr. Lewis will spend only a few hours lying in state under the Capitol dome after an invitation-only ceremony on Monday afternoon, according to plans released by Speaker Nancy Pelosi, Democrat of California, and Senator Mitch McConnell, Republican of Kentucky and the majority leader.
Afterward, his coffin will be moved outside to the top of the Capitol steps, and members of the public will be able to line up — with masks required and social distancing enforced — to view it from the plaza below on Monday evening and all day Tuesday, the leaders said in a joint statement.
Mr. Lewis, a 17-term congressman from Georgia and the senior member of the Congressional Black Caucus, died last week after battling pancreatic cancer. He was known as the “conscience of the Congress” for his moral authority acquired through years of protest for racial equality — including when he was brutally beaten during voting rights demonstrations in Selma, Ala., in 1965 and across the Jim Crow South.
The leaders said Mr. Lewis’s family would provide more details about honoring him beyond the Capitol ceremony, including with a procession through Washington. Americans often travel from far-flung locations to honor Americans lying in state at the Capitol, but Mr. Lewis’s family discouraged people from doing so amid the pandemic, instead asking for “virtual tributes” using the hashtags #BelovedCommunity or #HumanDignity.
Last year, Representative Elijah E. Cummings became the first Black lawmaker to lie in state in the Capitol. It is an honor that has been afforded to more than 40 individuals, most recently including Mr. Cummings, Democrat of Maryland, President George H.W. Bush and Senator John McCain, Republican of Arizona.
Trump announces that he is canceling the Jacksonville portion of the G.O.P. convention.
President Trump said Thursday that he had decided to cancel the Republican National Convention, planned for August in Jacksonville, Fla., amid growing concern among party donors, local officials and voters in Florida that the spread of the coronavirus made the gathering untenable.
“The timing for the event is not right,” Mr. Trump said during a late afternoon briefing on the pandemic at the White House. “To have a big convention is not the right time.”
Mr. Trump’s decision to cancel the Jacksonville convention came weeks after he initially pulled the event from Charlotte, N.C., amid a clash with the state’s governor over social distancing guidelines. He said that he would still keep a much smaller meeting of Republican delegates, scheduled for August in Charlotte, on the calendar.
Mr. Trump can ill afford a repeat of his disastrous and lightly-attended rally in Tulsa, Okla., a debacle spurred by fears of the pandemic that led to the dismissal of his campaign manager Brad Parscale.
“I just felt it was wrong to have people going to what turned out to be a hot spot,” Mr. Trump said when asked if he was concerned about an inability to keep people safe should the convention be held in Jacksonville. “We didn’t want to take any chances.” He added: “I could see the media saying ‘oh this is very unsafe.’ I just don’t want to be in that position.”
The decision comes about a week after Democrats announced a dramatic downsizing of their convention in Milwaukee — from an expected attendance of 50,000 to around 300.
Fund-raising for the Florida convention has been sluggish, hampered by skittish donors worried about the growing caseload, and conflicts between local politicians and Mr. Trump’s campaign.
Sixty-two percent of Florida voters said it was unsafe to hold the convention with the pandemic still raging, according to a Quinnipiac University poll released Thursday.
Mr. Trump — who in the past week has begun to change his tone on the pandemic (even if he continues to call it the “China virus”), urging the use of masks and other protective measures that he had previously downplayed — said he did not plan to scrap the entire event.
“We’re going to do other things, like ‘tele-rallies’ and other, smaller events,” Mr. Trump added. “And I’ll still do a convention speech in a different form, but we won’t do a big, crowded convention, per se. It’s just not the right time for that.”
Mr. Trump did announce plans to attend another big event: He said he plans to throw out the first pitch at Yankee Stadium on Aug. 15.
Florida leaders, fearing ‘largest super-spreader event in history,’ are relieved about the canceled convention.
City officials and party leaders in Jacksonville had long warned Mr. Trump and national Republican leaders that holding even a scaled-back version of the Republican National Convention, with most events taking place outdoors, was a lethal mistake.
Mr. Trump’s announcement Thursday that he was canceling most of the convention, scheduled for the end of August, came as a relief to a city hard-hit by rising coronavirus cases over the past month.
On Monday, the Jacksonville sheriff, Mike Williams, issued a warning to planners that set the stage for Mr. Trump’s decision, saying, “We are simply past the point of no return to execute the event with safety and security.”
In a joint statement after Mr. Trump’s announcement, Mr. Williams and Mayor Lenny Curry, a Republican, said the president “has once again reaffirmed his commitment to the safety of Jacksonville,” and they thanked him for “considering our public health and safety concerns in making this incredibly difficult decision.”
State Senator Joe Gruters of Sarasota, chairman of the Republican Party of Florida, said he was looking forward to hosting the convention but understood Mr. Trump’s decision.
“The president is obviously putting safety first and foremost, and I’m glad,” said Mr. Gruters, who had been working on convention planning earlier on Thursday before learning about Mr. Trump’s decision during the afternoon news conference. “We’re disappointed that this is not coming to Jacksonville, but Florida still loves the president, and we’re going to deliver the state.”
Behind the scenes, however, state and local officials were increasingly adamant in their opposition to the convention. One Florida Republican close to the president said his decision was less a courageous call than a belated recognition that events were spinning out of control.
“This is great news for our city. It would have created the largest super-spreader event in history,” said W.C. Gentry, a Republican lawyer in Jacksonville who had filed a lawsuit on behalf of a downtown church and group of small business owners trying to stop the convention.
State Democrats agreed.
“I’m glad Donald Trump took his head out of the sand long enough to realize what a predictable, preventable disaster he was about to inflict on the city of Jacksonville,” Terrie Rizzo, chairwoman of the Florida Democratic Party, said in a statement, calling his original plan for the convention “an ego-driven stunt.”
Ocasio-Cortez condemns Yoho for accosting her, reading misogynist slur into the Congressional Record.
Representative Alexandria Ocasio-Cortez and her allies took to the floor of the House Thursday to condemn Representative Ted Yoho, Republican of Florida, for accosting her and referring to her with a sexist vulgarity, calling it emblematic of a culture that demeans women and girls.
In a rare use of profanity on the House floor, Ms. Ocasio-Cortez, a New York Democrat who is one of the highest-profile members of Congress, recounted in detail the incident that unfolded on Monday on the steps of the Capitol.
“I was minding my own business, walking up the steps, and Representative Yoho put his finger in my face. He called me disgusting. He called me crazy. He called me out of my mind. He called me dangerous,” she said.
After entering the Capitol to vote, she said, she walked back outside, and, “in front of reporters, Representative Yoho called me, and I quote: ‘A fucking bitch.’ These are the words Representative Yoho levied against a congresswoman.”
It was the third straight day that the confrontation has consumed the Capitol. In an hourlong session she organized on the House floor, Ms. Ocasio-Cortez and a series of other Democratic women took turns criticizing Mr. Yoho for his actions and discussing the toxic masculinity they said that they reflected.
“That the whole Democratic Women’s Caucus has gone to the floor at a time when floor time is very precious tells you how important it is,” Speaker Nancy Pelosi of California told reporters afterward.
On Tuesday, The Hill published a story about the exchange, which quoted Mr. Yoho’s remarks verbatim.
Mr. Yoho offered some words of contrition for the episode on Wednesday, but he declined to apologize to Ms. Ocasio-Cortez for his language, denying that he had used the phrase and arguing that his passion stemmed from his concern about poverty. A spokesman for Mr. Yoho said he used a barnyard epithet to describe her policies, not insult her.
On the floor Thursday, Ms. Ocasio-Cortez said she had been willing to let the incident fade until she heard the non-apology from Mr. Yoho.
“That I could not let go,” she said.
She said she felt compelled to stand up for all the women and girls who have been subjected to abuse and misogyny.
“Mr. Yoho mentioned that he has a wife and two daughters,” Ms. Ocasio-Cortez said. “I am two years younger than Mr. Yoho’s youngest daughter. I am someone’s daughter too. My father, thankfully, is not alive to see how Mr. Yoho treated his daughter. My mother got to see Mr. Yoho’s disrespect on the floor of the House toward me on television, and I am here because I have to show my parents that I am their daughter, and that they did not raise me to accept abuse from men.”
A new poll of Florida voters shows Biden surging over Trump, while support for DeSantis plummets.
A new Quinnipiac University poll of Florida voters shows Former Vice President Joseph R. Biden Jr. leading Mr. Trump by 13 percentage points, significantly outside the margin of error — a worrisome sign for Mr. Trump in a state he won four years ago.
Fifty-one percent of respondents supported Mr. Biden, compared with 38 percent who supported Mr. Trump; the margin of error was plus or minus 3.2 percentage points.
The poll also found overwhelming support — 79 percent — for a statewide mask mandate to slow the spread of the coronavirus, something Gov. Ron DeSantis has resisted even as infections have skyrocketed in Florida. This is one more data point in a growing body of evidence that mask mandates, while controversial among elected officials, are extremely popular among the general public; a Quinnipiac poll released yesterday found similar support for a mandate in Texas.
Other numbers in the poll showed the depth of Floridians’ concern about the pandemic: 83 percent said the virus’s spread was a serious problem in Florida, 70 percent said it was “out of control,” and 61 percent said Mr. DeSantis had reopened the state’s economy too quickly.
Mr. DeSantis’s push to reopen schools next month is also unpopular: 62 percent of voters said they thought it would be unsafe for students to attend in-person classes. And his overall approval rating has plummeted, to 41 percent from 53 percent, since Quinnipiac released its last Florida poll in April.
Quinnipiac’s Florida polling was off in 2018: Its last poll before the midterm elections showed seven-point leads for Senator Bill Nelson and the Democratic candidate for governor, Andrew Gillum, but both ended up losing. However, its polling more broadly has a strong track record.
Ohio bribery case prompts Gov. Mike DeWine to call for repealing the law behind the scandal.
In the wake of the arrest of one of Ohio’s top lawmakers, Gov. Mike DeWine on Thursday asked the State Legislature to repeal a 2019 bailout bill that is at the heart of the scandal.
On Tuesday, the F.B.I. arrested Larry Householder, the Republican speaker of the House, on racketeering charges in what federal officials described as a $60 million scheme to bail out a foundering energy company. In a criminal complaint, the F.B.I. described a wide-ranging conspiracy in which the energy company, FirstEnergy Corp., and some of its subsidiaries helped finance Mr. Householder’s election as House speaker and then allegedly bankrolled an effort led by Mr. Householder in 2019 to pass a $1.3 billion bill that subsidized two troubled nuclear power plants. The firms then financed a campaign to defeat a referendum to repeal the measure, known as House Bill 6.
On Thursday, Governor DeWine, a Republican, said he was still struggling to process the news of the arrests — which included a former head of the State Republican Party and several lobbyists — and he called for the bailout bill to be repealed and then replaced in a process involving greater public vetting.
“The most important thing is that the public have confidence in the process,” Mr. DeWine said in a news conference. He added that although he supports the policies in the bailout measure, he felt it should be repealed and replaced soon.
Mr. DeWine has called on Mr. Householder to resign. “It is clear, as I indicated yesterday, that Speaker Householder can no longer function as speaker with these very, very serious charges,” Mr. DeWine said. “The people’s business must be done, and so I’d urge my friends in the legislature to very vigorously look at that.”
With release of Biden video, Obama takes another step into the campaign arena.
“You can’t separate out the public health crisis from the economy,” Mr. Obama said. “If you want the economy growing, people have to feel safe.”
Mr. Biden responded: “What you did, and what all great presidents do, is persuade.”
The conversation was socially distanced, with the two men seated in leather armchairs some 10 feet apart, as Mr. Biden continues to contrast himself with Mr. Trump, who has only recently embraced certain coronavirus mitigation tactics such as occasionally touting face masks.
The video represents another careful step into the public arena by Mr. Obama, who is desperate to see Mr. Trump defeated but has sought to let the Democratic Party chart its own course. Mr. Biden’s campaign released several clips online as teasers to build anticipation, highlighting Mr. Obama’s still broad appeal.
One of those excerpts focused on health care, and featured Mr. Biden reflecting on a deeply personal subject: when his son Beau Biden was dying of brain cancer.
That experience, Mr. Biden said, underscored the importance of the Affordable Care Act.
“I used to sit there and watch him in the bed and in pain and dying of glioblastoma,” Mr. Biden said of his older son, who died in 2015. “And I thought to myself, what would happen if his insurance company was able to come in, which they could have done before we passed Obamacare, and said: ‘You’ve outrun your insurance. You’ve outlived it. Suffer the last five months of your life in peace. You’re on your own.’”
The conversation cast the much younger former president in the role of mentor conferring a kind of secular blessing on his 77-year-old former governing partner. Mr. Obama told Mr. Biden that his candidacy represented a chance to restore a government “that cares about people.”
“Because policy is important, laws are important, budgets are important,” Mr. Obama said. “But you know what’s important also, is what kind of values are you communicating.”
“Bingo,” Mr. Biden said.
A few hours after the video was posted, Mr. Trump weighed in with a tweet claiming his election was the result of a backlash against the Obama-Biden years.
“Obama, who wouldn’t even endorse Biden until everyone else was out of the primaries (and even then waited a long time!), is now making a commercial of support,’’ the president wrote. “Remember, I wouldn’t even be here if it weren’t for them.”
Bloomberg’s gun control group is investing $15 million to help Democrats up and down the ballot.
The opening investment includes $5 million earmarked for Florida, the lone state where Everytown plans advertising in the presidential contest; $3.5 million in Texas, where the group is focusing on six House races; and $1 million to $1.5 million in Arizona, Iowa and North Carolina — three states where it will advertise in Senate races — as well as Minnesota and Pennsylvania.
The group is also planning an initial $500,000 investment in Georgia, where in addition to the state legislative contests the group will advertise on behalf of Representative Lucy McBath, a suburban Atlanta Democrat who used to work as an Everytown spokeswoman.
Though the coronavirus pandemic and protests over racial disparities in policing have dominated Americans’ attention this summer, John Feinblatt, Everytown’s president, said in an interview that he believed gun violence remained hugely important to voters.
“Post-Covid, our polling tells us it’s more critical to voters than ever,” Mr. Feinblatt said.
Trump talks Iran, space, virus and arms control — but not hacking or Afghanistan — with Putin.
Mr. Trump spoke on the phone Thursday morning with the Russian president, Vladimir Putin, about upcoming arms control talks and the coronavirus, according to a one-paragraph readout of the exchange.
The report, provided by a White House spokesman, Judd Deere, was noteworthy for what it did not address.
It did not include any mention of two pressing issues that have sprung up since the two leaders last spoke in June — a report that Moscow placed bounties on American soldiers in Afghanistan and a National Security Agency assessment, made in the last week, that Russian hackers were attempting to steal vaccine data from U.S. and European researchers.
“President Trump and President Putin discussed efforts to defeat the coronavirus pandemic while continuing to reopen global economies,” Mr. Deere wrote in a statement. “The two leaders also discussed critical bilateral and global issues. President Trump reiterated his hope of avoiding an expensive three-way arms race between China, Russia and the United States and looked forward to progress on upcoming arms control negotiations in Vienna.”
Mr. Deere said he had nothing to add when asked if the two men addressed the vaccine hacking story, the bounties or continued allegations that Russia is continuing to interfere in the U.S. elections.
The Kremlin’s readout of the call was somewhat more expansive, as has often been the case.
Mr. Putin and Mr. Trump “touched upon” the “situation around the Iranian nuclear program,” the need to improve trade between the two nations and shared verbal high-five ahead of the 45th anniversary Cold War-era joint Soyuz-Apollo space program, a Putin spokesman wrote on the Russian president’s website.
Trump’s language about urban unrest mirrors the fears he stoked about migrant caravans in 2018.
Voters with long memories — well, two-year-old memories — will find many similarities between Mr. Trump’s stoking of fears of urban unrest in 2020 and the dark shadows he cast over the 2018 midterm elections with another issue: migrant caravans.
THEN Calling the midterms “the election of the caravan,” the president raised alarms about a threat to the country’s safety and security from Central American migrants headed for the U.S. border. It was an election strategy meant to rally his base. “We have Strong Borders and will never accept people coming into our Country illegally!” he tweeted.
NOW Mr. Trump has repeatedly raised the specter of American communities torn apart by lawless anarchy, either from protesters in Portland, Ore., or from a rise in violent crime in other cities led by Democrats. It is an election strategy to rally his base.
THEN Mr. Trump said the caravans — composed of many parents and children seeking asylum — included gang members and “very bad people.” He tweeted warnings of an “invasion” that would be met at the border by the U.S. military.
NOW Mr. Trump announced a “surge” of militarized federal agents on Wednesday to cities including Chicago and Albuquerque, building on earlier deployments to Portland and Kansas City. Mayors and governors have denounced the actions — which have included tactics like pulling people into unmarked vehicles — as an abuse of power.
THEN Mr. Trump’s dark rhetoric about nonwhite migrants was matched by hyperbolic coverage in conservative media. Stoking fears about immigration had helped Mr. Trump win the White House.
NOW Right-wing media stars like Rush Limbaugh and Sean Hannity have seized on the Portland protests, misleadingly portraying the city as a war zone. Outside a small downtown area where there are nightly demonstrations, which the mayor says are rowdier because of the federal presence, daily life is relatively calm. The conservative media messaging dovetails with ominous Trump campaign ads warning “you won’t be safe in Joe Biden’s America.”
THEN Mr. Trump’s scaremongering did little to save Republicans on Election Day. Democrats captured the House majority and governorships in battleground states. Democrats ran up their largest popular vote victory in House races since Watergate, besting Republicans by more than 8 million votes. Mr. Trump rarely mentioned migrant caravans again.
NOW There are 103 days until Election Day. Turnout by both parties is expected to shatter records for a presidential race.
The president tries to defend his cognitive abilities by repeating five words, again and again.
Long defensive about challenges to his mental sharpness, Mr. Trump again brought up a cognitive test on Wednesday night that he claims he aced. He offered extended details of how he performed on one of the questions designed to test short-term memory, by repeating several times a series of words: “Person. Woman. Man. Camera. TV.”
In the interview, with a medical analyst for Fox News, Mr. Trump recalled taking a test known as the Montreal Cognitive Assessment, or MOCA, at Walter Reed National Military Medical Center. The White House has not disclosed details about when the president underwent the testing or why.
As he had earlier on Sunday in an interview with Chris Wallace on Fox, Mr. Trump sought to defend his mental fitness for office while attacking the acuity of Mr. Biden.
The president said the MOCA questions got progressively harder, and he cited one of the final ones, in which he was asked to repeat a string of words, and then was quizzed later to see if he still recalled them.
“OK, now he’s asking you other questions, other questions, and then, 10 minutes, 15, 20 minutes later they say, ‘Remember that first question — not the first — but the 10th question? Give us that again. Can you do that again?’” Mr. Trump said. “And you go: ‘Person. Woman. Man. Camera. TV.’ If you get it in order, you get extra points.”
“They said nobody gets it in order,” Mr. Trump continued. “It’s actually not that easy, but for me, it was easy. And that’s not an easy question. In other words, they ask it to you, they give you five names and you have to repeat ’em. And that’s OK. If you repeat ’em out of order, it’s OK, but, you know, it’s not as good. But when you go back about 20, 25 minutes later and they say go back to that — they don’t tell you this — ‘Go back to that question and repeat ’em, can you do it?’ And you go: ‘Person. Woman. Man. Camera. TV.’
Marc K. Siegel, the professor of medicine at New York University who conducted the interview, did not ask any follow up questions.
Bernie Sanders renews his call to supporters: Get behind Biden.
Senator Bernie Sanders on Wednesday night again urged his most loyal supporters to unite behind Mr. Biden, saying the moment demanded they “engage in coalition politics” even as he encouraged them to continue fighting for a progressive agenda.
“I understand we do not agree with Joe Biden on all of the issues — believe me, I know that, I ran against Joe Biden,” he told hundreds of delegates on an evening Zoom call. “But at this moment, what we need to do is engage in coalition politics with the goal of defeating Trump.”
His remarks, just weeks before a pared-down Democratic National Convention is set to take place, served as both a call to action and an attempt to rally supporters who remain disappointed in his primary loss.
Since Mr. Sanders withdrew from the presidential race in April — and even when he was a candidate — he has been adamant about supporting the eventual Democratic nominee against Mr. Trump, urging his supporters to fall in line behind Mr. Biden.
He and many aides have been eager to avoid a repeat of 2016, when some of his supporters — fueled in part by his acrimonious race against Hillary Clinton — viewed the race as rigged and vowed never to support Mrs. Clinton.
On Wednesday, Mr. Sanders mobilized his supporters to back progressive candidates down the ballot and to continue their quest to push the party leftward. He specifically highlighted the work his supporters had done on six so-called unity task forces that he had formed with Mr. Biden, which released their recommendations two weeks ago.
“We have been making progress,” he said. “We’ve got to keep up the pressure.”
After days of Republican criticism of Liz Cheney, Trump joins in.
Mr. Trump joined conservative allies on Thursday in assailing Representative Liz Cheney, a leading House Republican who has come under fire this week amid accusations that she is not loyal enough to the president.
Ms. Cheney, a staunch conservative from Wyoming and the party’s third-ranking House leader, has largely supported Mr. Trump but diverged in recent weeks by backing Dr. Anthony S. Fauci, urging Americans to wear masks and calling on the administration to stand up to Russia amid reports of bounties on American troops.
A half-dozen fellow conservatives berated her on Tuesday at an extraordinary closed-door session, saying she was hurting the party by speaking out on issues at odds with Mr. Trump. At least one, Representative Matt Gaetz of Florida, one of the president’s most vocal allies, called on her to step down as chairwoman of the House Republican Conference.
Mr. Trump on Thursday reposted a Twitter message from Mr. Gaetz making that demand and added his own criticism, essentially painting Ms. Cheney as a warmonger.
“Liz Cheney is only upset because I have been actively getting our great and beautiful Country out of the ridiculous and costly Endless Wars,” he wrote on Twitter. “I am also making our so-called allies pay tens of billions of dollars in delinquent military costs. They must, at least, treat us fairly!!”
The president also retweeted a post by Senator Rand Paul, Republican of Kentucky, a regular antagonist of Ms. Cheney. “We should all join @realDonaldTrump in advocating to stop our endless wars,” the tweet said. “Liz Cheney not only wants to stay forever, she’s leading the fight to try to stop him from leaving. Unacceptable.”
Ms. Cheney responded mildly to Mr. Trump’s tweets. “It’s no secret the president and I disagree on some foreign policy issues,” she told Politico. Noting that she belongs to the Armed Services Committee, she added that her biggest obligation is to “provide for the defense of the nation” and that she would continue to speak out.
Biden’s plan for caregiving reflects a growing acknowledgment that it’s not only a women’s issue.
The coronavirus made it undeniable that caregiving is not just a concern for women, and when Mr. Biden presented his new caregiving plan this week — speaking about his experience as a single father and describing caregiving policies as an economic necessity — he made it explicit, Claire Cain Miller writes.
“This is the so-called sandwich generation,” he said. “It includes everyone from an 18-year-old daughter caring for a mom who suddenly gets sick to a 40-year-old dad raising his child and caring for his own aging parents. The joy and love are always there. But it’s hard. I know it’s hard.”
Treating caregiving the way Mr. Biden proposed — as labor that is respected, worthy of a living wage and an economic necessity for everyone — would be a significant economic shift in the United States.
“The more we make it a broader issue, the better we are,” said Linda Smith, director of the early childhood development initiative at the Bipartisan Policy Center. “It’s long overdue for some of us who have been working on this for a very long time.”
Often, it’s female politicians who speak most publicly about caregiving needs. An older man framing the issue as one that affects everyone, and speaking from personal experience about caring for his young children, was a striking change.
Mr. Biden’s policy proposals focused not just on new mothers, as many do, but also on the full range of caregiving needs from birth to death. A big part of his plan was improving caregiving jobs — by raising wages, guaranteeing benefits, providing career training and allowing unionizing. Improving these jobs would help the women and people of color who disproportionately do them, research has shown — and also recruit more men into the field.
Biden’s tax plan would cut earnings for many large companies by 10 percent, an analysis finds.
Based on what Mr. Biden has proposed thus far, a win for the Democratic presidential candidate would mean major changes for companies that have gotten used to lower tax rates under Mr. Trump, the DealBook newsletter reports.
Earnings would fall by 10 percent, on average, for a large group of companies in the S&P 500 index, according to the Zion Research Group, which specializes in accounting analysis. The effective tax rate for those companies would rise to 26.7 percent, from 18.7 percent, based on last year’s financials, because of proposed increases in the headline tax rate and a special levy on foreign income.
Technology and health care companies, which are currently able to lower their taxes by shifting intellectual property and other assets abroad more easily than many other firms, would be among the hardest hit, according to the analysis.
Zion’s analysis excluded real estate companies, which have complained about a proposal by Mr. Biden this week to restrict so-called like-kind exchanges, in which investors defer taxes on property sales by putting the proceeds toward new purchases. Republican lawmakers considered a similar restriction as part of the 2017 tax cut, but didn’t include it in the final bill.
Reporting was contributed by Maggie Astor, Peter Baker, Luke Broadwater, Claire Cain Miller, Sydney Ember, Reid J. Epstein, Trip Gabriel, Michael M. Grynbaum, Astead W. Herndon, Thomas Kaplan, Jason Karaian, Patricia Mazzei, Giulia McDonnell Nieto del Rio,Adam Nagourney, Katie Rogers, Benjamin Weiser and Glenn Thrush.