Sen. Lamar Alexander. Photo: William B. Plowman/NBC/NBC NewsWire via Getty Images.

Sen. Lamar Alexander — chairman of the Senate Health, Education, Labor and Pensions Committee — announced his retirement yesterday morning, and so is officially in legacy-making mode.

The backdrop: Earlier this month, he said that a priority for next Congress would be addressing health care costs, a point he reiterated at an Axios event last week. This includes getting rid of wasteful spending, making prices more transparent and addressing surprise medical bills.

"Lowering health care costs is an obvious path towards getting lasting results to help the American people, and Alexander views it as a possible legacy item where he can drag both parties to a consensus before he retires," a person familiar with Alexander's thinking told me yesterday.

Our thought bubble: Alexander is retiring, and Sen. Chuck Grassley has only two years to chair the Finance Committee before he's term-limited out of the position. That makes two chairmen of health care committees who are incentivized to do something big before they leave their position.

  • "Two chairmen who are lame ducks free to do anything they want and the Leader in cycle," one former GOP aide-turned-lobbyist emailed. "What could go wrong?"

Go deeper: How the Senate's bipartisan ACA effort went off the rails

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Dan Primack, author of Pro Rata
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Leon Black says he "made a terrible mistake" doing business with Jeffrey Epstein

Photo illustration: Sarah Grillo/Axios. Photo: Rick Friedman/Corbis/Getty Images

Apollo Global Management CEO Leon Black on Wednesday said during an earnings call that he made a "terrible mistake" by employing Jeffrey Epstein to work on personal financial and philanthropic services.

Why it matters: Apollo is one of the world's largest private equity firms, and already has lost at least one major client over Black's involvement with Epstein.

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Jeremy Corbyn suspended by U.K. Labour Party over anti-Semitism report

Photo: Christopher Furlong/Getty Images

The U.K. Labour Party has suspended its former leader, Jeremy Corbyn, after a watchdog report found that the party failed to properly take action against allegations of anti-Semitism during his time in charge.

Why it matters: It represents a strong break by Keir Starmer, Labour's current leader, from the Corbyn era and one of the party's most persistent scandals.

U.S. economy sees record growth in third quarter

The U.S. economy grew at a 33.1% annualized pace in the third quarter, the Commerce Department said on Thursday.

The state of play: The record growth follows easing of the coronavirus-driven lockdowns that pushed the economy to the worst-ever contraction — but GDP still remains well below its pre-pandemic level.