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A view of the U.S. Capitol. Photo: Bill Clark/CQ Roll Call

A group of conservative policy advocates has released another proposal to repeal and replace the Affordable Care Act, which has been in the works now for a few months.

The details: Policy-wise, it’s basically the same as the Graham-Cassidy repeal bill, but without dramatic cuts to traditional Medicaid. It would eliminate most of the ACA’s consumer protections/benefit mandates and convert federal subsidy funding, as well as the law’s Medicaid expansion, into block grants to the states.

Why it doesn’t matter: Republicans couldn’t repeal the ACA with 52 Senate seats; they’re unlikely to get it done now with 51.

Why it does matter: This is the manifestation of an ongoing rift within the conservative movement ahead of this year’s midterms. Most of the party seems to have moved on from health care, but some conservatives still see it as a political imperative.

What’s next: Republicans on the House Budget Committee released a proposal yesterday that calls for steep cuts to Medicare and Medicaid, including the premium support system pushed into the mainstream by outgoing Speaker Paul Ryan.

  • This, too, is a thing that’s not going to actually happen, and is only relevant — for now — to the extent it affects the midterms.

Go deeper

Felix Salmon, author of Capital
7 mins ago - Economy & Business

Trump's volatile return to the stock market

Expand chart
Data: YCharts; Chart: Axios Visuals 

Donald Trump this week became both a meme stock and a social-media entrepreneur at the same time, by announcing that a new company called Trump Media & Technology Group was going to merge with an existing company listed on the stock market.

Why it matters: The medium-term promise of Trump's media company is that it will replace Twitter for anybody wanting to keep track of Trump's messages. The short-term promise is that it can be a hot new speculative vehicle for people wanting to get rich quick in the stock market.

Updated 10 hours ago - World

U.S. airstrike kills senior al-Qaeda leader in Syria, DOD says

A displacement camp near the village of Qah in Syria's northwestern Idlib province. Photo: Ahmad Al-Atrash/AFP via Getty Images

A U.S. airstrike in northwest Syria on Friday killed senior al-Qaeda leader Abdul Hamid al-Matar, U.S. Central Command said in a statement.

Why it matters: Syria serves as a "safe haven" for the extremist group to plan external operations, according to U.S. Army Maj. John Rigsbee.

Updated 15 hours ago - Politics & Policy

Giuliani associate Lev Parnas convicted of campaign finance crimes

Lev Parnas, a former associate of then-President Donald Trump’s personal lawyer Rudy Giuliani. Photo: Stefani Reynolds/Bloomberg via Getty Images

Florida businessman Lev Parnas was convicted Friday on charges of conspiracy to make foreign contributions to political campaigns, according to multiple outlets.

Why it matters: Prosecutors said Parnas, then an associate of former President Donald Trump's personal lawyer Rudy Giuliani, funneled over $150,000 from a Russian businessman into U.S. campaigns as part of an effort to land licenses in the U.S.'s legal cannabis industry.

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