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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How "naked ballots" could upend mail-in voting in Pennsylvania

Trump signs in Olyphant, Penn. Photo: Eric Baradat/AFP via Getty Images

Pennsylvania's Supreme Court ordered state officials last week to throw out mail-in ballots submitted without a required inner "secrecy" envelope in November's election, the Philadelphia Inquirer reports.

The state of play: The decision went under the radar alongside the simultaneous decision to extend the time that mail-in ballots could be counted, but Philadelphia's top elections official warned state legislators this week that throwing out so-called "naked ballots" could bring "electoral chaos" to the state and cause "tens of thousands of votes" to be thrown out — potentially tipping the presidential election.

Commission releases topics for first presidential debate

Moderator Chris Wallace. Photo: Drew Angerer/Getty Images

Fox News anchor Chris Wallace has selected what topics he'll cover while moderating the first presidential debate between President Trump and former Vice President Joe Biden next week.

What to watch: Topics for the Sept. 29 debate will include Trump and Biden's records, the Supreme Court, COVID-19, economic policy, racism and the integrity of the election, the Commission for Presidential Debates announced on Tuesday. Each topic will receive 15 minutes of conversation and will be presented in no particular order.

Fed chair warns economy will feel the weight of expired stimulus

Treasury Secretary Steven Mnuchin and Fed Chair Jay Powell bump elbows before House hearing on Tuesday. Photo: Joshua Roberts/Pool/AFP via Getty Images

Federal Reserve Chairman Jerome Powell told the House Financial Services Committee on Tuesday that the expiration of Congress' coronavirus stimulus will weigh on the U.S. economy.

Why it matters: Powell warned that the effects of dried-up benefits are a looming risk to the economy, even if the consequences aren't yet visible.

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