Get the latest market trends in your inbox

Stay on top of the latest market trends and economic insights with the Axios Markets newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Andrew Harnik / AP

Obamacare remains the law of the land. And the White House didn't even get a courtesy call.

The West Wing was blindsided last night when two Republican senators — Mike Lee of Utah and Jerry Moran of Kansas — came out against repeal-and-replace. Either of them would have killed it.

But there's one more act in this drama: At 10:46 p.m., Senate Republican Leader Mitch McConnell announced that he was calling the bluff of his finicky GOP colleagues and planning a repeal-only vote, putting them on the line to act on the promise they had repeatedly made in their campaigns, with no excuses.

"Regretfully, it is now apparent that the effort to repeal and immediately replace the failure of Obamacare will not be successful," said McConnell. "So, in the coming days, the Senate will vote to take up the House bill with the first amendment in order being what a majority of the Senate has already supported in 2015 and that was vetoed by then-President Obama: a repeal of Obamacare with a two-year delay."

Axios' Jonathan Swan says this "the nuclear option": "This is leadership saying: 'If you're not going to come around on a "replace" bill, [forget] you. We'll do repeal without replace — which you voted for before, when Obama was president, and you knew it wouldn't take effect. What was that, a fake vote?'"

The outlook: It'll probably lose. But this is McConnell trying to get the issue fully off his plate so he can move on to tax reform, while showing the base he tried everything he could.

The takeaway: Top Republicans sources believe that the failure of health reform would make tax reform more likely — because of political desperation by Republicans, who'll need something to run on.

Be smart: We emailed one of the GOP's sharpest vote counters with the repeal-only news and the subject line: "Hail Mary?"

The quick reply: "Incomplete pass."

Quote du jour, per Politico: "At a dinner with GOP senators on Monday evening, Trump said the party would look like 'dopes' if they couldn't pass [a repeal-only] bill after passing a repeal bill in 2015."

Subscribe to Axios AM/PM for a daily rundown of what's new and why it matters, directly from Mike Allen.
Please enter a valid email.
Please enter a valid email.
Server error. Please try a different email.
Subscribed! Look for Axios AM and PM in your inbox tomorrow or read the latest Axios AM now.

Go deeper

Mike Allen, author of AM
14 mins ago - Politics & Policy

Why Trump may still fire Barr

Photo: Jabin Botsford/The Washington Post via Getty Images

Attorney General Barr may be fired or resign, as President Trump seethes about Barr's statement this week that no widespread voter fraud has been found.

Behind the scenes: A source familiar with the president's thinking tells Axios that Trump remains frustrated with what he sees as the lack of a vigorous investigation into his election conspiracy theories.

Mike Allen, author of AM
14 mins ago - World

Scoop: Trump's spy chief plans dire China warning

Xi Jinping reviews troops during a military parade in Beijing last year. Photo: Thomas Peter/Reuters

Director of National Intelligence John Ratcliffe on Thursday will publicly warn that China's threat to the U.S. is a defining issue of our time, a senior administration official tells Axios.

Why it matters: It's exceedingly rare for the head of the U.S. intelligence community to make public accusations about a rival power.

Ina Fried, author of Login
33 mins ago - Technology

Tech's race problem is all about power

Illustration: Eniola Odetunde/Axios

As problematic as the tech industry's diversity statistics are, activists say the focus on those numbers overlooks a more fundamental problem — one less about numbers than about power.

What they're saying: In tech, they argue, decision-making power remains largely concentrated in the hands of white men. The result is an industry whose products and working conditions belie the industry rhetoric about changing the world for the better.