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Gamestop trading action pits powerful against powerless
A popular rebellion, organized by the powerless against the powerful. It might have failed in Washington, but it certainly seems to be working on Wall Street.
Driving the news: The market value of GameStop closed at more than $10 billion on Tuesday, on record volume of more than $26 billion.
Senate Democrats settling on 25% corporate tax rate
The universe of Democratic senators concerned about raising the corporate tax rate to 28% is broader than Sen. Joe Manchin, and the rate will likely land at 25%, parties close to the discussion tell Axios.
Why it matters: While increasing the rate from 21% to 25% would raise about $600 billion over 15 years, it would leave President Biden well short of paying for his proposed $2.25 trillion, eight-year infrastructure package.