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HCA's hospitals are closing the books on a profitable Q3, despite the pandemic. Photo: Rusty Russell/Getty Images

HCA Healthcare is giving back $1.6 billion of federal bailout payments and paying back $4.4 billion in Medicare loans early. The money was intended to help hospitals weather the pandemic as patients delayed elective care.

Why it matters: Over the summer, the hospital industry said the pandemic was resulting in "the greatest financial crisis we have ever faced in our history." But HCA expects to report higher revenue and adjusted profits in the third quarter.

By the numbers: The taxpayer bailout payments represented 55% of HCA's profit in the second quarter.

  • Hospitals and other health care providers secured $175 billion in bailouts from Congress since the start of the pandemic.

What they're saying: HCA CEO Sam Hazen said in a press release that returning the funds and repaying the loans early was "appropriate and the socially responsible thing to do."

What we're watching: Finances at other large hospital systems similarly improved in the second quarter, compared with the first quarter.

  • That trend likely could continue as more people rescheduled surgeries and saw their doctors, despite the persistence of coronavirus cases throughout the country.

Go deeper

Rep. Lou Correa tests positive for COVID-19

Lou Correa. Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images

Rep. Lou Correa (D-Calif.) announced on Saturday that he has tested positive for the coronavirus.

Why it matters: Correa is the latest Democratic lawmaker to share his positive test results after last week's deadly Capitol riot. Correa did not shelter in the designated safe zone with his congressional colleagues during the siege, per a spokesperson, instead staying outside to help Capitol Police.

Trump sues New York Times and his niece over tax report

Former President Trump hosting a boxing match in Hollywood, Florida on Sept. 11. Photo: Chandan Khanna/AFP via Getty Images

Former President Trump filed a lawsuit against the New York Times and his niece, Mary Trump, on Tuesday over the news outlet's reporting on his tax records, the Daily Beast first reported.

Details: The lawsuit, filed in New York's Dutchess County, alleges that the NYT "engaged in an insidious plot to obtain confidential and highly-sensitive records" and that it "convinced" Mary Trump to "smuggle records out of her attorney's office and turn them over to The Times."

House passes government funding, debt ceiling bill

Speaker Nancy Pelosi. Photo by Kevin Dietsch/Getty Images

The House passed a bill on Tuesday to fund the government through early December, along with a measure to raise the debt ceiling through December 2022.

Why it matters: The stopgap measure, which needs to be passed to avoid a government shutdown when funding expires on Sept. 30, faces a difficult journey in the Senate where at least ten Republicans would need to vote in favor.