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Alex Brandon / AP

Vice President Mike Pence said Tuesday that he and President Trump, while frustrated with the GOP's unsuccessful health care efforts, "fully support" Senate Majority Leader Mitch McConnell's call for a repeal bill. He also drove home that Congress is not doing enough, and the gridlock in Washington needs to end — now.

Pence's bottom line: "The Senate should vote to repeal now and replace later" or take up the House health care bill. "Either way, inaction is not an option. Congress needs to step up. Congress needs to do their job. And Congress needs to do their job now."

Highlights from Pence's speech at the National Retail Foundation's Annual Summit:

Health care:

  • "Since Day 1 of this administration President Trump has been fighting tirelessly to repeal and replace... Every day Obamacare survives is another day the American economy and American families struggle."
  • "Obamacare has failed. And Obamacare must go. President Trump and I are grateful for Senate Majority Leader Mitch McConnell... most republicans were loyal, terrific and worked really hard."
  • Repeal bill: "The Senate passed the same bill in 2015 and sent it to the President's desk, and they should do it again."

Tax code:

  • Pence says the administration's tax code will cut the corporate rate to 15%, cut taxes on funds overseas, eliminate the death tax, and enact "territorial tax in line with the rest of the world."
  • "This president is going to work with this congress this year and we're going to pass the largest tax code since Ronald Reagan."

Go deeper

Justice Department drops insider trading inquiry against Sen. Richard Burr

Sen. Richard Burr (R-N.C.) walking through the Senate Subway in the U.S. Capitol in December 2020. Photo: Stefani Reynolds/Getty Images

The Department of Justice told Sen. Richard Burr (R-N.C.) on Tuesday that it will not move forward with insider trading charges against him.

Why it matters: The decision, first reported by the New York Times, effectively ends the DOJ's investigation into the senator's stock sell-off that occurred after multiple lawmakers were briefed about the coronavirus' potential economic toll. Burr subsequently stepped down as chair of the Senate Intelligence Committee.

Netflix tops 200 million global subscribers

Illustration: Rebecca Zisser/Axios

Netflix said that it added another 8.5 million global subscribers last quarter, bringing its total number of paid subscribers globally to more than 200 million.

The big picture: Positive fourth-quarter results show Netflix's resiliency, despite increased competition and pandemic-related production headwinds.

Janet Yellen plays down debt, tax hike concerns in confirmation hearing

Treasury Secretary nominee Janet Yellen at an event in December. Photo: Alex Wong via Getty Images

Janet Yellen, Biden's pick to lead the Treasury Department, pushed back against two key concerns from Republican senators at her confirmation hearing on Tuesday: the country's debt and the incoming administration's plans to eventually raise taxes.

Driving the news: Yellen — who's expected to win confirmation — said spending big now will prevent the U.S. from having to dig out of a deeper hole later. She also said the Biden administration's priority right now is coronavirus relief, not raising taxes.