Photo: Evan Vucci / AP

President Trump plans to end subsidy payments to insurers selling plans under the Affordable Care Act, Politico's Josh Dawsey reports. The subsidies were worth about $7 billion this year, and ending them would be the most aggressive step Trump has taken yet to dismantle the ACA.

Why it matters from Axios health care editor Sam Baker: If Congress doesn't step up and guarantee this funding, expect insurance companies to raise their premiums dramatically; leave at least some of the ACA's marketplaces altogether; and potentially sue the administration for withholding payments the law says they're supposed to receive.

Earlier today, Trump signed an executive order expanding access to more loosely regulated insurance options with low premiums, another move that could undermine the ACA insurance markets.

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Spotify has a Joe Rogan dilemma

Illustration: Sarah Grillo/Axios

Spotify is getting slammed for allowing Joe Rogan, one of its most popular podcasters, to host far-right conspiracy theorist Alex Jones on his show.

Why it matters: The company, which still distributes mostly music, will begin to encounter more of these types of problems as it expands its podcast business.

Coronavirus cases are at an all-time high ahead of Election Day

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Data: The COVID Tracking Project, state health departments; Map: Andrew Witherspoon, Sara Wise/Axios

In the final week before Election Day, new coronavirus infections have soared to an all-time high — virtually guaranteeing that the pandemic will be the most prominent issue in America as voters prepare to choose the next president.

The big picture: Cases are surging and local hospitals are straining at the very moment that voters are choosing between President Trump, who continues to insist that the pandemic is almost over, and Joe Biden, who has made the crisis a centerpiece of his campaign.

Biden's closing ad campaign

Joe Biden attends a virtual town hall event with Oprah Winfrey at The Queen theater in Delaware. Photo: Drew Angerer/Getty Images

Joe Biden's team is spending tens of millions of dollars on a national digital ad campaign in the final days before Election Day — but highlighting a plethora of voters from Pennsylvania in particular, underscoring how critically important the state is.

Why it matters: Biden's team is betting that COVID-19 is on the ballot, and amplifying the stories of those affected by the pandemic with an emphasis on persuading voters in key battlegrounds to support the former VP.