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Photo: Offutt Air Force Base

Vice President Mike Pence said Tuesday that federal aid would soon arrive for communities impacted by historic flooding in the Midwest.

The latest: Pence visited a relief shelter in Omaha, Nebraska, and surveyed flood damage in the region during a tour of the region. The Nebraska Farm Bureau said farm and ranch losses from the flooding could total $1 billion and there would be up to $500 million in livestock losses, according to the Associated Press.

The big picture: Nebraska, Wisconsin and Iowa declared states of emergency after melting snow and heavy rain from a "Bomb Cyclone" in the Midwest caused deadly, historic flooding around the Platte and Missouri rivers. Nebraska Gov. Pete Ricketts said it's the worst flooding in the state for 50 years. At least three people have died in the floods.

Go deeper

Dion Rabouin, author of Markets
2 mins ago - Economy & Business

First glimpse of the Biden market

Photo: Jonathan Ernst-Pool/Getty Images

Investors made clear what companies they think will be winners and which will be losers in President Joe Biden's economy on Wednesday, selling out of gun makers, pot purveyors, private prison operators and payday lenders, and buying up gambling, gaming, beer stocks and Big Tech.

What happened: Private prison operator CoreCivic and private prison REIT Geo fell by 7.8% and 4.1%, respectively, while marijuana ETF MJ dropped 2% and payday lenders World Acceptance and EZCorp each fell by more than 1%.

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

Biden-Harris, Day 1: What mattered most

President Joe Biden and first lady Dr. Jill Biden arrive at the North Portico of the White House. Photo: Alex Brandon-Pool/Getty Images

The Axios experts help you sort significance from symbolism. Here are the six Day 1 actions by President Biden that matter most.

Driving the news: Today, on his first full day, Biden translates his promise of a stronger federal response to the pandemic into action — starting with 10 executive orders and other directives, Caitlin Owens writes.

2 hours ago - Politics & Policy

Read: Pete Buttigieg's opening statement ahead of confirmation hearing

Pete Buttigieg, President Biden's nominee to be secretary of transportation, in December. Photo: Kevin Lamarque/AFP via Getty Images

Pete Buttigieg, President Biden's nominee to lead the Transportation Department, will tell senators he plans to prioritize the health and safety of public transportation systems during the pandemic — and look to infrastructure projects to rebuild the economy — according to a copy of his prepared remarks obtained by Axios.

Driving the news: Buttigieg will testify at 10 a.m. ET before the Senate Committee on Commerce, Science and Transportation. He is expected to face a relatively smooth confirmation process, though GOP lawmakers may press him on "green" elements of Biden's transportation proposals.