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Photo: Stephen Brashear/Getty Images

Boeing announced on Wednesday plans to give $100 million to the families and communities impacted by two fatal 737 MAX crashes, reports the New York Times.

Why it matters: "The move was among the most overt acknowledgment[s] of Boeing's responsibility in the crashes..." per the Times. Boeing will likely have to pay more down the line as the company faces numerous lawsuits, investigations and fines.

Context: The business brought in $101.1 billion in 2018, and $22.9 billion the first quarter of 2019 alone. The $100 million pledge will be distributed over the course of multiple years, according to the Times.

The backdrop: Lion Air Flight 610 crashed in Indonesia, killing the 189 passenger on board last October, and an Ethiopian Air Flight 302 fatally crashed in Kenya, killing all 157 passengers this March. Boeing has since grounded the 737 MAX worldwide, and is working to fix the faulty software that led to the crashes.

Go deeper: Everything you need to know about the Boeing 737 MAX crashes

Go deeper

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Coronavirus deaths reach 4,000 per day as hospitals remain in crisis mode — CDC warns highly transmissible coronavirus variant could become dominant in U.S. in March.
  2. Politics: Biden says, "We will manage the hell out of" vaccine distribution — Biden taps ex-FDA chief to lead Operation Warp Speed amid rollout of COVID plan — Widow of GOP congressman-elect who died of COVID-19 will run to fill his seat.
  3. Vaccine: Battling Black mistrust of the vaccines"Pharmacy deserts" could become vaccine deserts — Instacart to give $25 to shoppers who get vaccine.
  4. Economy: Unemployment filings explode againFed chair: No interest rate hike coming any time soon —  Inflation rose more than expected in December.
  5. World: WHO team arrives in China to investigate pandemic origins.

NRA declares bankruptcy, says it will reincorporate in Texas

Wayne LaPierre of the National Rifle Association (NRA) speaks during CPAC in 2016. Photo: Saul Loeb/AFP via Getty Images

The National Rifle Association said Friday it has filed for Chapter 11 bankruptcy and will seek to reincorporate in Texas, calling New York, where it is currently registered, a "toxic political environment."

The big picture: The move comes just months after New York Attorney General Letitia James filed a lawsuit to dissolve the NRA, alleging the group committed fraud by diverting roughly $64 million in charitable donations over three years to support reckless spending by its executives.

3 hours ago - Politics & Policy

Biden: "We will manage the hell out of" vaccine distribution

Joe Biden. Photo: Chip Somodevilla / Getty Images

President-elect Joe Biden promised to invoke the Defense Production Act to increase vaccine manufacturing, as he outlined a five-point plan to administer 100 million COVID-19 vaccinations in the first months of his presidency.

Why it matters: With the Center for Disease Control and Prevention warning of a more contagious variant of the coronavirus, Biden is trying to establish how he’ll approach the pandemic differently than President Trump.