The U.S. is doing almost as much testing as experts had predicted we'd need, and it's still far from enough given our enormous caseload — which the experts hadn't accounted for.

Driving the news: "In light of the ongoing spread of COVID-19 in states across the country, many labs are now receiving more test orders than they are able to process in a single day. We have urged ordering providers to prioritize testing for those most in need, especially hospitalized and symptomatic patients," Julie Khani, president of the American Clinical Laboratory Association, said in a statement Tuesday

Health care companies will start reporting second-quarter financials in earnest this week, showing how the coronavirus lockdowns and subsequent reopenings affected their businesses.

The big picture: Revenues almost certainly will be down for most companies, as the virus forced people to stay at home and led to fewer people getting surgeries and going to pharmacies. But that doesn't mean profits were eliminated, and Wall Street has already pumped health care stock prices back to where they were pre-pandemic.

Florida is the new domestic epicenter of the coronavirus pandemic, and it's on track to keep getting worse.

By the numbers: Of the 20 U.S. metro areas with the highest daily case growth, nine are in Florida, according to Nephron Research.

The Trump administration is cutting the Centers for Disease Control and Prevention out of the process of collecting coronavirus data, The New York Times reports.

Why it matters: The new database will not be open to the public, according to the Times, and comes amid repeated efforts by the Trump administration to sideline the CDC.

The Trump administration announced Tuesday it will be ramping up testing at nursing homes in coronavirus hotspots using rapid point-of-care diagnostic test instruments.

Why it matters: The push to increase testing at nursing homes comes as many states, particularly in the Southern U.S., see a surge. Many nursing homes fell victim to the coronavirus pandemic as the virus spread among residents early on. More than 40% of U.S. coronavirus deaths were linked to nursing homes in mid-June.

1. Global: Total confirmed cases as of 5 a.m. ET: 13,323,530 — Total deaths: 578,628 — Total recoveries — 7,399,310 — Map.
2. U.S.: Total confirmed cases as of 5 a.m. ET: 3,431,574 — Total deaths: 136,466 — Total recoveries: 1,049,098 — Total tested: 41,764,557 — Map.
3. Politics: Biden welcomes Trump wearing mask in public but warns "it’s not enough"
4. Public health: Four former CDC heads say Trump's undermining of agency puts lives at risk — CDC director: U.S. could get virus "under control" in four to eight weeks if all wear masks.

Healthy volunteers who took Moderna's coronavirus vaccine candidate appeared to generate an immune system response to the virus, and there were "no trial-limiting safety concerns," according to a new study published in the New England Journal of Medicine.

Why it matters: The phase one trial is still small and does not definitively determine how effective the vaccine is. But Anthony Fauci of the National Institutes of Health, which is running the trial, told the Wall Street Journal that these data make it "pretty clear that this vaccine is capable of inducing quite good [levels] of neutralizing antibodies."

When asked on Tuesday who the public can trust during the coronavirus pandemic, Anthony Fauci said that people "can trust respected medical authorities ... who have a track record of giving information and policy and recommendations based on scientific evidence and good data."

Why it matters: Fauci's comments come as the White House tries to sideline the National Institute of Allergy and Infectious Diseases director in the middle of the pandemic. Multiple media outlets received a statement on Monday from an unnamed White House official that listed each time Fauci was "wrong on things" in COVID-19's early days.

Transit authorities are busting out every trick in the book to coax riders back on trains and buses.

Why it matters: In regular times, riding on a subway car is dramatically safer than driving a car to the office. But social distancing is next to impossible on mass transit, especially during an airborne pandemic

If everyone in the U.S. wore a mask, the coronavirus pandemic could be "under control" within four to eight weeks, Centers for the Disease Control and Prevention director Robert Redfield said in a discussion led by medical journal JAMA on Tuesday.

The big picture: JAMA published an editorial on Tuesday co-authored by Redfield that points to research papers showing that the positivity rate of confirmed cases can decrease in populations with masking. "The time is now. We really need to embrace masking," he said.

Joe Biden commended President Trump on Tuesday for choosing to wear a mask in public, but he quickly pivoted to arguing how the move shows just how bad the coronavirus crisis has gotten under Trump's leadership.

Why it matters: By leveling his charge at the top of speech on his $2 trillion plan to combat climate change, Biden sought to keep the focus on Trump’s personal and policy responses to the coronavirus. "Mr. President, ‘open everything now” isn’t a strategy for success, it’s barely a slogan," Biden said.

Most U.S. parents say it would be risky to send their children back to school in the fall — including a slim majority of Republicans and a staggering nine in 10 Black Americans — in this week's installment of the Axios-Ipsos Coronavirus Index.

The big picture: President Trump and Education Secretary Betsy DeVos have made the back-to-school debate their new central argument for how the economy can get rolling and have threatened funding for those who don't comply. Still, many school districts are choosing to be more cautious.

Sen. Lindsey Graham (R-S.C.) defended Anthony Fauci at a press conference Tuesday in the wake of attempts by anonymous Trump administration officials to undermine the nation's top infectious diseases expert.

What he's saying: "We don't have a Dr. Fauci problem. We need to be focusing on doing things that get us to where we need to go. So I have all the respect in the world for Dr. Fauci."

The CARES Act helped shift 539 health care providers online by providing $200 million in funding, Federal Communications Commission Chairman Ajit Pai said Tuesday at an Axios virtual event.

What he's saying: "Since April 13th when we opened up the window to telehealth providers submitting applications, we’ve now distributed funding to 539 applicants, allocated all $200 million of that money to 47 states, the District of Columbia and Guam. And this money is being distributed to a whole variety of institutions: bricks-and-mortar community health centers, mental health and behavioral health facilities and the like. And they’re providing a variety of care towards up to $1 million. It’s already having a huge impact."

Watch the virtual event

Patients who used telehealth during the pandemic contributed to a decrease in emergency room visits by 40% nationwide, and by 80% among those 14 years old and younger, Mario Schlosser, co-founder and CEO of Oscar Health, said Tuesday at an Axios virtual event.

Why it matters: The decrease in ER visits showed many patients were regularly using telehealth services for non-emergencies. Virtual health care visits could become a default for check-ups, prescription refills and behavioral health even after the pandemic subsides, Schlosser added.

The Texas Republican Party voted Monday to hold its convention this week online, after the state Supreme Court tossed an attempt to overturn a city order that banned the gathering.

Why it matters: The move ends a conflict between the state party and the city of Houston. The Texas GOP had tried to continue with its in-person convention despite the state's surge in coronavirus cases.

Four former directors of the Centers for Disease Control and Prevention blasted the Trump administration's "repeated efforts to subvert" agency guidelines related to reopening schools, accusing the White House in a scathing Washington Post op-ed of undermining science with "partisan potshots."

Why it matters: Former directors Tom Frieden, Jeffrey Koplan and David Satcher and acting head Richard Besser served in parts of the Obama, Bush and Clinton administrations. They said they "cannot recall over our collective tenure a single time when political pressure led to a change in the interpretation of scientific evidence."

The NBA bubble at Walt Disney World demands a documentary and will surely get its own "30 for 30" one day. But as the action begins to unfolds, it's clear that the players, themselves, will be the primary storytellers.

Why it matters: The most unique sporting event in history (just ahead of every other event this year) will be documented by its participants, making it less of a traditional "sports season" and more of a must-see reality show.

The Paycheck Protection Program (PPP) has left much to be desired for needy small businesses around the U.S., and the overwhelming majority of recipients are about to exhaust their funding and may start laying off employees.

Why it matters: The PPP has been derided by some economists and researchers as inefficient and ineffective, but a new Goldman Sachs survey shows that even for the businesses and employees it helped, it has not been enough.

Bruce Mehlman of Mehlman Castagnetti Rosen & Thomas, who tells Axios he spends about 50 hours every three months on his famous quarterly decks, has delved into all the ways the pandemic is bringing us the future faster.

Bruce's bottom line: If things feel historically disruptive, it's because they are.

Nearly two-thirds of Americans — and a noticeably increasing number of Republicans — say they’re wearing a face mask whenever they leave the house, according to the latest installment of the Axios-Ipsos Coronavirus Index.

Why it matters: A weakening partisan divide over masks, and a broad-based increase in the number of people wearing them, would be a welcome development as most of the country tries to beat back a rapidly growing outbreak.

Quest Diagnostics said its average turnaround time for a COVID-19 test is now at "seven or more days," up from four to five days at the end of June. Its testing backlog is getting worse because of the high demand in parts of the country where infection is spreading.

Why it matters: Long backlogs make testing less useful — public health officials need to know what their local situation is like now, not what it was like a week ago. Delays are especially problematic if people who are infected continue to go about their lives while they wait for their results.

Roughly 5.4 million adults in the U.S. lost their health insurance from February to May after losing their jobs, according to a new estimate from Families USA, a group that favors the Affordable Care Act.

Why it matters: There are more adults under 65 without insurance in Southern states which are the same states setting new records for single-day coronavirus infections along with rising hospitalizations.