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A doctor meets with a dialysis patient. Photo: Helen H. Richardson/The Denver Post via Getty Images

The California Assembly late Wednesday passed dialysis legislation SB 1156 by a 44-19 tally after it originally didn't have the votes. California's Senate still has to vote it through again, but it's "pretty much pro forma at this point" and will head to Gov. Jerry Brown's desk, according to a lobbyist familiar with the bill.

The bottom line: This is a giant win for the SEIU, health insurers and employers and a huge blow to dialysis companies and the American Kidney Fund, but it's a coin flip on what Brown will do. The bill would cap payments at lower Medicare rates for providers that have financial ties to charities that subsidize patients' commercial insurance.

Go deeper

1 hour ago - Health

Vaccine shipment companies targeted by cyberattacks, IBM says

Illustration: Sarah Grillo/Axios

A global phishing campaign has been trying to gain information from organizations working to ship coronavirus vaccines since September, IBM's cybersecurity arm said on Thursday.

Why it matters: Successfully distributing a COVID vaccine will already be challenging for the U.S. and other wealthy countries, especially to rural areas with less resources — while poorer countries are expected to have delayed access.

Fauci to meet with Biden transition for first time

Anthony Fauci. Photo: Win McNamee/Getty Images

The government's top infectious-disease expert Anthony Fauci will stay on at the National Institutes of Health and plans to meet virtually with President-elect Joe Biden's transition team for the first time Thursday to discuss the coronavirus response, he told CBS News.

Why it matters: Fauci, widely viewed as one of the country's most trusted voices on the coronavirus, said it will be the first "substantive" conversation between he and Biden's team. He said he has not yet spoken with Biden directly, but has connected several times with incoming White House Chief of Staff Ron Klain.

Dion Rabouin, author of Markets
Updated 4 hours ago - Economy & Business

Our make-believe economy is here to stay

Illustration: Eniola Odetunde/Axios

The Federal Reserve and global central banks are remaking the world's economy in an effort to save it, but have created something of a monster.

Why it matters: The Fed-driven economy relies on the creation of trillions of dollars — literally out of thin air — that are used to purchase bonds and push money into a pandemic-ravaged economy that has long been dependent on free cash and is only growing more addicted.