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Photo: Daniel Sorabji/AFP/Getty Images

Colorado Gov. Jared Polis signed a bill on Wednesday capping the out-of-pocket cost of insulin at $100 per month, making it the first state in the country to take such action, reports the Denver Post.

Why it matters: Axios' Caitlin Owens says people with diabetes are dependent on insulin, and as the price of the decades-old drug has increased, it has created problems for those who must take it, but can't afford it. Insulin is the classic outrage-inducing case of an old drug being marked up for no reason, with a hugely significant impact on patients who need it.

The backdrop: Diabetics have been using insulin for nearly a century, but the cost of the prescription drug has doubled since 2012 and is up to $1,000 under some health insurance plans, per the Denver Post.

Details: The new law still allows drugmakers to charge as much as they want for insulin, but insurance companies are expected to absorb the brunt of the cost, per the Denver Post.

Go deeper: Insulin prices propel higher spending among diabetics

Go deeper

The startup that wants to disrupt big internet providers

Illustration: Maura Losch/Axios

A new startup backed by funding from AOL founder Steve Case and Laurene Powell Jobs wants to break up broadband monopolies across the country.

Why it matters: Internet access has been crucial during the pandemic, but it's not ubiquitous, and it can be both slow and unaffordable in swaths of the country.

3 hours ago - World

Top general: China's hypersonic missile test "very close" to a "Sputnik moment"

Gen. Mark Milley. Photo: Rod Lamkey-Pool/Getty Images

Gen. Mark Milley, the chairman of the Joint Chiefs of Staff, warned Wednesday that China's test of a hypersonic missile is "very concerning" and "very close" to the kind of "Sputnik moment" that triggered the Space Race during the Cold War.

Why it matters: The comments by America's top uniformed general underscore the depths of U.S. concerns about China's rapid military expansion and development of advanced weaponry.

Climate reckoning for oil and gas CEOs

Illustration: Aïda Amer/Axios

Top executives from ExxonMobil, BP, Chevron and Shell will face a reckoning on Capitol Hill Thursday, as they're grilled on evidence that their companies knew for years that their products were driving climate change but chose to downplay or deny it.

Why it matters: The hearing before the House Oversight Committee will be the first time these executives have been brought together to provide sworn testimony regarding what they knew about the ties between their company's products and climate change, and when they knew it.