Mar 7, 2017

Obamacare replacement pads paychecks of health insurance executives

Charles Dharapak / AP

The Republican Obamacare replacement eliminates the industry taxes on medical device companies, health insurers and tanning salons. But starting in 2018, it also axes the provision that capped the annual corporate income tax deductibility of compensation at $500,000 for any health insurance CEO, executive or employee. If the bill passes, the deduction limit would go back up to $1 million.

Why this matters: The provision was a tiny part of Obamacare, but it was a source of revenue that helped pay for the health care law. The Joint Committee on Taxation expected it to generate $600 million through 2019. Eliminating the tax deductibility limit piles onto the daunting question of how Republicans would pay for this replacement. The move, which reinstates a corporate tax break for wealthy insurance executives, also doesn't do anything for low-income or middle-class people and will be an easy target of Democrats.

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The growing coronavirus recession threat

Illustration: Aïda Amer/Axios

In just a matter of weeks, top economists and investment bank analysts have gone from expecting the coronavirus outbreak to have minimal impact on the U.S. economy to warning that an outright recession may be on the horizon.

What's happening: The spread of confirmed coronavirus cases in Europe, the Middle East and the U.S., and the speed at which they are being discovered has set the table for the outbreak to have a larger and much costlier impact.

Mass shooting in Milwaukee: What we know

Milwaukee Mayor Tom Barrett in 2012. Photo: John Gress/Corbis via Getty Images

Six people died in a shooting at the Molson Coors Brewing Company in Milwaukee on Wednesday, including the gunman, Mayor Tom Barrett told reporters at a Wednesday evening press conference with local police.

Details: All of the victims worked at the brewery complex, as did the shooter who died of "an apparent self-inflicted gunshot wound," police confirmed in a statement late Wednesday.

Go deeperArrowUpdated 8 hours ago - Politics & Policy

Coronavirus updates: South Korea case count tops 2,000

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

33 people in California have tested positive for the coronavirus, and health officials are monitoring 8,400 people who have recently returned from "points of concern," Gov. Gavin Newsom said Thursday.

The big picture: COVID-19 has killed more than 2,850 people and infected over 83,000 others in some 50 countries and territories. The novel coronavirus is now affecting every continent but Antarctica, and the WHO said Wednesday the number of new cases reported outside China has exceeded those inside the country for the first time.

Go deeperArrowUpdated 8 hours ago - Health