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J. Scott Applewhite / AP

House Intel Committee Ranking Member Adam Schiff went to the White House Friday to see the documents that led Chairman Devin Nunes to say Trump associates may have been spied on by the Obama administration. Schiff told Jake Tapper this morning that there are two things the American people need to know about the documents:

1. The origins are fishy:

"The deputy assistant to the White House informed me… 'these are exactly the same materials shown to the chairman'…now this is a very interesting point. How does the White House know that these were the same materials that were shown to the chairman if the White House wasn't aware what the chairman was being shown? …if these were produced either for or by the White House, then why all the subterfuge?

2. An attempt to distract:

"You can say a lot of things about the president but… he's not subtle. I think his tweets tell the story…It's certainly an attempt to distract, to hide the origin of the materials, to hide the White House hand. The question is of course why. I think the answer to the question is this effort to point the Congress in other directions… 'don't look at me, don't look at Russia, there's nothing to see here' …it ought to set off alarm bells"

On Mike Flynn's immunity request: "I think we start out with a very healthy skepticism. We don't want to do anything that will interfere in any case that the Justice Department may decide to bring."

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.