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Photo: Spencer Platt/Getty Images

Mike Bloomberg, former New York City mayor, pledged $60 million to help House Democrats try and strengthen their majority in November, the Washington Post reports.

Why it matters: The billionaire's pledge nearly matches what he contributed to help Democrats flip the House in 2018. Bloomberg has deep pockets that allowed him to finance his own presidential campaign earlier this year.

The state of play: Of the money, more than $10 million has already been given to House Majority PAC, per the Post.

  • The money will be used to fund digital and television ads for some of the 20 freshman Democrats Bloomberg helped in 2018.
  • Some of the spending will be aimed at unseating Republican incumbents.
  • 21 of the 24 Democrats Bloomberg supported in 2018 won their races.

Yes, but: Bloomberg did not say how much more money he will spending on television and digital ads to help Biden or if he will help Democrats take the Senate.

What they're saying: Speaker of the House Nancy Pelosi issued a statement saying, "Mike Bloomberg played a role that was pivotal to our success two years ago. We are so glad that he is staying in the fight to protect and expand the Democratic majority in the House."

Go deeper

Both Georgia Senate seats are heading to a runoff

David Perdue, Jon Ossoff, Raphael Warnock, Kelly Loeffler. Photo: Getty Images

Sen. David Perdue (R-Ga.) will go to a Jan. 5 runoff contest after failing to win 50% of the popular vote in the race against Democrat Jon Ossoff, AP reports.

Why it matters: No winner has been declared in either of Georgia's two Senate battles, which means we likely won’t know which party will hold the Senate majority until 2021.

1 hour ago - Science

COVID time warp

Illustration: Sarah Grillo/Axios

The start of the COVID-19 pandemic seems like a lifetime ago to some, and just yesterday to others. Scientists are beginning to unpack the way people processed the passage of time amidst the stress, uncertainty and isolation of the 1 year, 8 months and 21 days since WHO declared a pandemic.

Why it matters: The pandemic's global effects on how people experience time could provide new insights into the brain's ability to perceive and predict time — a fundamental feature of life.

Mitt Romney calls Ray Dalio's China investments a "sad moral lapse"

Sen. Mitt Romney walks to a Senate Republican caucus meeting at the Capitol on Oct. 7. Photo: Stefani Reynolds/Bloomberg via Getty Images

Sen. Mitt Romney (R-Utah) on Thursday criticized billionaire Ray Dalio's investments in China, writing in a tweet that "his feigned ignorance of China's horrific abuses and rationalization of complicit investments there is a sad moral lapse."

Driving the news: Romney's comments come after Dalio's firm, Bridgewater Associates, the largest hedge fund in the world, raised $1.3 billion in November for a new private fund in China, Bloomberg reports.