Democrats' latest version of a prescription drug pricing deal limits Medicare negotiations to only 20 drugs by 2028 and gives some new drugs a longer period of time after they first come to market during which they're exempt from negotiations, according to a draft of the plan obtained by Axios.
Why it matters: It's still a deal on Medicare negotiations, a huge Democratic priority. But it's a much more moderate version than what most of the party had been pushing for.
A bipartisan group of senators on Tuesday announced a compromise on the John Lewis Voting Rights Advancement Act.
Why it matters: The proposal comes after several months of bipartisan negotiation that aimed to build "broader support" for the bill in the Senate, where Republicans have blocked previous House-passed voting measures.
Senate Majority Leader Chuck Schumer announced Tuesday that Democrats have reached a deal on lowering Medicare prescription drug prices — an omission that had stalled support for President Biden's $1.75 trillion social spending plan.
Why it matters: Democrats have run on lowering drug prices for years. If the agreement is finalized, it'll allow them to tell voters that they've fulfilled their promise.
President Biden predicted victory for Democrat Terry McAuliffe in his race against Republican Glenn Youngkin to become the next governor of Virginia, declaring in remarks Tuesday, "we're going to win."
Why it matters: The election could have both local and national ramifications, with many experts touting it as a bellwether for the 2022 midterms.
President Biden said at a COP26 press conference on Tuesday that Chinese leader Xi Jinping made a "big mistake" by not showing up to the UN climate summit, suggesting that Beijing has "lost an ability to influence" other countries as a result.
Why it matters: China is the world's largest source of greenhouse gases, but made no new commitments at COP26.
Eighty-nine New York Police Department officers have been placed on unpaid leave since the vaccine mandate for city workers went into effect, Commissioner Dermot Shea told NY1 on Tuesday.
Driving the news: The number is in sharp contrast with an Oct. 28 news release from the heads of five major police unions representing the city's officers, which stated that the city was set to pull 10,000 officers from the streets.
The House Committee on Oversight and Government Reform will issue subpoenas to top fossil fuel companies Tuesday over several "key documents" they have not turned over to the committee.
Why it matters: The subpoenas will come days after the committee held a "landmark" hearing with fossil fuel executives and amid a broader discussion on climate disinformation and what the industry knew about climate change.
Pine nuts, known as piñons in New Mexico, aren't as plentifulas in previous years thanks to drought, beetle infestations and climate change in the delicate desert.
The big story: The lack of piñons in the mountains is putting at risk a Hispanic tradition of families venturing into the mountains to pick the nuts for holiday dishes, sparking fear that piñons may be in long-term danger.
Why it matters: "Since 2010, more than 65,000 veterans have died by suicide — more than the total number of deaths from combat during the Vietnam War and the operations in Iraq and Afghanistan combined," the White House wrote in a news release.
105 world leaders on Tuesday signed onto the Global Methane Pledge, a U.S. and EU joint initiative, to cut methane emissions by 30% by 2030 at the COP26 conference in Glasgow, Scotland.
Why it matters: "Though it's less abundant than longer-lived carbon dioxide, methane is dozens of times more powerful at trapping heat in the atmosphere," Axios' Andrew Freedman reports.
The companies standing behind over $100 billion in stablecoins — cryptocurrencies linked to the dollar — are effectively banks and should be regulated as such, according to an important new report released Monday by the Treasury Department.
Why it matters: Such regulation — "urgently needed," per Treasury — can't happen absent new legislation from Congress. If and when that happens, stablecoins — and crypto in general — would have a hugely important vote of confidence from the USA itself.
A California judge ruled late Monday against Santa Clara, Los Angeles and Orange counties and the city of Oakland in their lawsuit against several pharmaceutical companies over the marketing of opioid pain medications.
Why it matters: It was the first case in which a judge ruled in favor of drug manufacturers in the more than 3,300 lawsuits filed by states and local governments over the opioid epidemic, according to Reuters.
"The Age of AI," by Henry Kissinger, Eric Schmidt and computer scientist Daniel Huttenlocher: "AI may produce insights that are true but beyond the frontiers of ... human understanding. ... [H]umans may find themselves in a similar position to that of Alexander Fleming, the discoverer of penicillin. ... [H]umanity, lacking a concept of an antibiotic, did not understand how penicillin worked. The discovery launched an entire field of endeavor. AIs produce similarly startling insights — such as identifying drug candidates and new strategies for winning games — leaving it to humans to divine their significance."
Our friend Tim Mak of NPR has already driven news with "Misfire" — deep reporting on the NRA that "pulls back the curtains, from Wayne LaPierre's wedding to the reaction at NRA HQ after Sandy Hook, from the infighting and corruption that led to Oliver North's ejection ... from the elite world of the NRA's female million dollar donors, to an NRA delegation to Moscow, to confrontations between top officials in Oliver North's hotel suite." Read an excerpt.
Win or lose in today's Virginia governor's race, Glenn Youngkin has created a new template for Republican candidates running in competitive races in the Trump era.
Why it matters: Republicans, with swing states set to dictate Senate control in 2022, are scrambling to strike a balance — when Full Trump is too hot in swing states like Virginia, but Never Trump is too cold for the former president's rabid fans.
The Biden administration announced Tuesday plans to reduce methane emissions from the gas and oil sector.
Why it matters: For the first time ever, the Environmental Protection Agency would move to regulate new and existing oil and gas operations for methane emissions, a potent greenhouse gas, Biden administration officials said at a briefing.
Rep. Marjorie Taylor Greene (R-Ga.) was hit with four fines on Monday for failing to comply with House rules on masks.
By the numbers: House members are fined $500 the first time they break the House pandemic rule and $2,500 is taken from their $174,000 congressional pay each time they commit the offense thereafter — and Greene has been cited at least seven times for this, per the Washington Post.
The Federal Election Commission has ruled foreign donors can finance U.S. referendum campaigns, opening the door to foreign spending on fights over high-profile policy issues, Axios has learned.
Why it matters: Foreign nationals are barred from donating to U.S. political candidates or committees. But the FEC's decision — allowing them to support ballot committees — provides another avenue for foreigners to directly influence U.S. voters and domestic policy.
Efforts to pressure Sen. Joe Manchin (D-W.Va.) to express support for President Biden's massive social safety net expansion prompted him to make his two dramatic declarations: don't rush the package, and don't link it to the separate infrastructure bill, people familiar with the matter tell Axios.
Why it matters: Manchin's surprise press statement Monday didn't just disrupt the glide path to a vote envisioned by House leaders; it created a PR nightmare for the White House. He said the $1.75 trillion package was financed by "shell games" — Manchin believes it will cost closer to $3.9 trillion.
Glasgow, Scotland — COP26 is barely underway but U.S. special climate envoy John Kerry is already looking ahead to what's next.
What they're saying: "What's really critical is making sure whatever promises and whatever ambition is put on the table here is empowered to execute," Kerry told Axios on the sidelines of the climate change gathering in Scotland.
The percentage of Americans who think abortions should be legal under any circumstances has ticked up in recent years, but a plurality still say it should only be legal in certain circumstances, according to polling by Gallup.
Driving the news: The Supreme Court heard oral arguments on Monday for two challenges to a new Texas law banning abortions after a fetal heartbeat can be detected. 58% of Americans oppose such bans, as of earlier this year.
