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Sen. Elizabeth Warren. Photo: Mario Tama/Getty Images

Elizabeth Warren's 2020 campaign will no longer accept contributions that exceed $200 from Big Tech and financial executives in an effort to keep big money out of politics, she announced Tuesday in a Medium post.

The big picture: Warren's decision has sparked debate in some Democratic circles about whether the party's presidential nominee can take on President Trump with funding sourced primarily from small, grassroots contributors.

  • Warren's contribution guidelines apply to Google's parent company Alphabet, Amazon.com, Apple, Facebook, Microsoft, Lyft and Uber, the Wall Street Journal notes.
  • The Massachusetts senator has pledged to break up Silicon Valley companies, including Amazon, Facebook and Google.
  • Meanwhile, a battle between Warren and Facebook CEO Mark Zuckerberg has been brewing as the election inches closer.

Context: With the help of the Republican National Committee, Trump has already raised more than $300 million over the first 9 months of 2019.

Between the lines: Warren is betting that shutting out big donors will attract sustained funding from grassroots donors and organizations. In the 3rd quarter, she raised $24.6 million after swearing off big money fundraisers.

Go deeper

Updated 53 mins 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.