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Sen. Rob Portman, a Republican from Ohio, center, speaks during a news conference in the Dirksen Senate Office Building on July 28, 2021. Photo: Stefani Reynolds/Bloomberg via Getty Images

Providers can breathe a sigh of relief: Congress isn't planning on repurposing unspent money from the pandemic provider relief fund, at least not yet.

Driving the news: The White House finally reached an infrastructure deal with a bipartisan group of senators yesterday, paid for in part with health care policies.

  • Providers have been warning that they wouldn't be happy if the remaining provider bailout money was used to pay for bridges and roads.
  • Hospitals in particular would have been an unwelcome opponent for advocates of the infrastructure package, which will already have a tough time getting across the finish line.

Between the lines: Hospitals may have been the most powerful industry group awaiting the list of infrastructure pay-fors, but pharmacy benefit managers may be the bigger winners.

  • The proposal delays the Trump administration's rebate rule, which would force prescription drug discounts to occur at the pharmacy counter — a massive disruption to PBMs' business model.
  • Democrats will likely try to fully repeal the regulation in a partisan package down the road.

What we're watching: The infrastructure proposal also includes savings from reducing what Medicare spends on unused drugs that are left over from single-use vials.

  • This may sound like a niche policy, but drugmakers stand to lose money from it, and thus probably won't like it.

Go deeper

Biden meeting with key House Democrats

President Biden. Photo: Drew Angerer/Getty Images

President Biden is hosting two separate in-person meetings with moderate and progressive House members at the White House on Tuesday as infrastructure negotiations continue, White House officials told Axios.

Why it matters: This is the latest in the president’s efforts to appease the more volatile parts of his party’s coalition as Democrats wrangle over how to cut his social spending proposal down from $3.5 trillion to closer to $2 trillion.

Trump says he plans to launch new social media network in 2022

Photo: Chris Delmas/AFP via Getty Images

Former President Trump on Wednesday announced plans to launch a social media network called "Truth Social," and that it would go public via a SPAC.

Why it matters: Most ex-presidents are focused on their legacies, by creating presidential libraries or engaging in philanthropic endeavors. Trump, however, remains consumed by social media.

Beauty giant Coty Cosmetics looking to sell its own branded products

Coty Cosmetics CEO Sue Nabi. Photo: Axios on HBO

Coty Cosmetics CEO Sue Nabi tells Axios the beauty giant will “probably” introduce Coty-branded products one day.

Why it matters: Coty produces some of the world’s most popular fragrances, skin care products and color cosmetics on behalf of other well-known brands, but has shied away from producing its own branded products.