Republicans released their final tax bill Friday, the result of conference between the House and Senate. The final legislation proposes seven tax brackets for individual earners, with the top rate capped at 37 percent, down from 39.6 percent. The corporate tax rate is lowered to 21 percent from 35 percent.

Dubbed the Tax Cuts and Jobs Act, the bill overall includes $1.5 trillion in tax cuts. The latest version notably retains a deduction for state and local taxes, which had been scrapped from versions of the bill in both the House and Senate to the consternation of some Republicans in California and the Northeast. It also expands the child tax credit to be fully refundable up to $1,400 — a concession to Sen. Marco Rubio (R-Fla.) — as well as preserves deductions for mortgage interest, medical expenses, and charitable contributions.

After the child tax credit expansion prompted Rubio earlier Friday to flip to a "yes" vote, Tennessee Sen. Bob Corker (R) also announced that he would back the bill, likely sealing enough support for the bill to pass the Senate and hit President Trump's desk. Republicans have said they hope to deliver the measure to the president by Christmas.

Critics of the bill warn that the sweeping tax cuts are not sufficiently offset and will cause the federal deficit to balloon. Read more about the bill at The Wall Street Journal, or see a summary of its contents below. Kimberly Alters

Just one day after a major sponsor of the Washington Redskins issued a rebuke of the football team's controversial name, the franchise announced it will "review" the moniker. FedEx, "a Fortune 100 company that for more than two decades has tied its brand to that of the team," as The Washington Post reports, made the request on Thursday after investors worth more than $620 billion in assets urged the company to cut ties with the team unless the name was changed. Nike, another sponsor, removed Redskins merchandise from its online store Thursday.

The move is significant because it suggests the battle over sports team names "has shifted from moral appeals to business and political tactics," the Post says, especially as the U.S. grapples with its long history of racial inequality in the wake of the killing of George Floyd in Minneapolis police custody.

FedEx owns the naming rights to the team's stadium in Maryland, so its opinion could matter quite a lot. Team owner Daniel Snyder has long been pressured to change the team's name, but he's previously claimed the name honors Native Americans. This is the first time he's relented. "This process allows the team to take into account not only the proud tradition and history of the franchise but also input from our alumni, the organization, sponsors, the National Football League, and the local community it is proud to represent on and off the field," Snyder said in a statement.

Read more at The Washington Post. Jessica Hullinger

As coronavirus cases continue to surge in the U.S., overwhelming hospitals and bringing state-wide reopening plans to a halt, many might be wondering where the next hotspots will be. Unfortunately, that's somewhat hard to predict, as "the infection curve rose in 40 of the 50 states heading into the July Fourth holiday weekend," The Associated Press reports. But we can make some educated guesses.

The states with the most severe outbreaks at present are Arizona, Florida, Texas, and California, which "reported a combined 25,000 new confirmed coronavirus cases Thursday," AP says. But Georgia "is among the most worrying states right now," says Robinson Meyer at The Atlantic. Over the last week, the Peach State reported more than 14,800 new cases, and this can't be chalked up to more testing: "At the beginning of June, about one in 14 tests came back positive. Last week, about one in nine tests did; today, one in seven tests did," Meyer says.

Another state to watch is Ohio, "which saw new cases rise much faster than tests this week," Meyer reports. The percentage of positive tests has also doubled in Kansas, Montana, Michigan, Missouri, Tennessee, Mississippi, and South Carolina. "In Nevada, it has tripled. In Idaho, it is five times higher," according to AP.

Meanwhile, the Northeast, which was the early epicenter for the virus, has seen new infections drop significantly. Of the states seeing a downward trend in infections, only two — Nebraska and South Dakota — are outside the Northeast. "What seems to unite many of the most affected states is that they reopened indoor dining, bars, and gyms," Meyer says. "What will distinguish them is how they react now." Jessica Hullinger

Tucker Carlson for president? It's not inconceivable.

According to Politico, a number of Republican Party insiders are hoping the Fox News host will "parlay his TV perch into a run for president in 2024," believing he could be the next-generation leader of Trumpism. It's undeniable that Carlson has a massive platform from which he could make his pitch. As Politico reports, Tucker Carlson Tonight is the most watched cable news program in history, and Luke Thompson, a Republican strategist who worked for Jeb Bush's super PAC in 2016, told Politico this would make him a "formidable" candidate. But if he were to become the nominee, a "debate over the future of the party" would erupt, Politico says, about "whether Trump was an aberration or a party-realigning disrupter — a fight that will be all the fiercer if Trump loses in November."

Carlson's high ratings come alongside an advertiser exodus following his on-air claim that the Black Lives Matter movement "is definitely not about Black lives. Remember that when they come for you, and at this rate, they will." His ability to repeatedly withstand a barrage of backlash seems to be one of his selling points for the Republican base. "What he's been saying speaks for a lot of people, and it's basically not expressed or serviced by most Republican politicians," Rich Lowry, editor of the conservative National Review, told Politico. "There's a lot to be said for being fearless, and he is, while Republican politicians, as a breed, are not."

The question, though, is: Would Carlson run? According to one former top political aide to Trump, Carlson is "disgusted" with politicians, so he probably won't be interested in becoming one. He also has zero political experience under his belt, but as Lowry notes: "Political experience matters less than it once did."

Read more at Politico. Jessica Hullinger

As President Trump and Vice President Mike Pence continue to host events in areas hard-hit by the coronavirus crisis, the Secret Service agents assigned to look after them are starting to fear for their own health and safety, The Washington Post reports.

"The heightened risk of agents getting sick" while preparing for rallies in states like Arizona and Oklahoma "has begun to frazzle agents and their families," the Post reports, citing people close to agents. Their worries aren't unfounded: The Post says Pence was forced to duck out of a "Faith in America" campaign rally scheduled for Tuesday in Arizona after some of his Secret Service agents displayed coronavirus symptoms and at least one tested positive. Pence postponed his visit until Wednesday so that new, healthy agents could be brought in.

This is the second time recently that Secret Service agents have contracted the virus while prepping for an event for the administration. Two agents tested positive before Trump's controversial rally in Tulsa on June 20, and at least eight campaign staff members who helped plan the event have also tested positive. Catherine Milhoan, the director of communications for the Secret Service, told The New York Times that "the health and safety of our work force, their families, and that of our protectees remains the agency's highest priority." Jessica Hullinger

President Trump will start the three-day Independence Day weekend at Mount Rushmore, where 7,500 people are expected to attend a fireworks display Friday, The Associated Press reports. South Dakota Republican Gov. Kristi Noem (R), a Trump ally, said masks will be optional at the event, and social distancing won't be required. That prompted objections from local officials, including the Republican mayor of nearby Rapid City, Steve Allender.

Leaders of several Native American tribes in the region also warned the event could result in a coronavirus spike among their members. "The president is putting our tribal members at risk to stage a photo op at one of our most sacred sites," said Harold Frazier, chairman of the Cheyenne River Sioux Tribe.

In many states, leaders are encouraging residents to limit their July 4 celebrations to help stem the spread of the coronavirus. Harold Maass

The United States hit another grim milestone in the coronavirus pandemic Thursday, recording 55,220 new daily cases, according to The Washington Post. Georgia and Florida both set single-day records — Georgia reported 3,472 new daily cases, while Florida recorded a staggering 10,109 cases Thursday, up more than 3,500 from Wednesday's record-breaking total. "It's the 25th consecutive day that Florida has set a record high in its seven-day rolling average," the Post says.

Texas reported nearly 8,000 new cases Thursday, and in Houston, hospitals are being forced to transfer patients to facilities in other parts of the state as intensive care units near capacity due to the surge in COVID-19 patients. "We're running out of ICU beds," Harris Health Systems spokesman Bryan McLeod told ABC News. Texas Gov. Greg Abbott (R) mandated everyone in the state wear masks in public to help slow the spread of the virus.

There have been more than 11 million coronavirus cases worldwide, with 521,000 global deaths. While cases continue to skyrocket in the U.S., there hasn't been a corresponding surge in the death toll. However, a study published Wednesday in JAMA Internal Medicine said the true COVID-19 death toll may be significantly higher than what's being reported. Jessica Hullinger