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Obama radically alters Cuban immigration policy

President Obama has scrapped the long-standing "wet foot/dry foot" policy for Cubans effective immediately, according to the AP.

Why this matters: It's one of Obama's last major moves as president, and it's a massive step for the normalization process with Cuba that he began two years ago. Cubans will now be treated like immigrants from any other nation — there's no fast track to U.S. residency just by reaching American soil.