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J. Scott Applewhit / AP

Senate Republicans have asked the Congressional Budget Office to analyze Sen. Ted Cruz's proposal for further health insurance deregulation, and they've asked for one estimate of a health care bill that includes his changes and one that doesn't, according to a GOP aide familiar with the discussions.

The bottom line: That would give Republicans a better idea of the impact of his proposal, which would let insurers sell health plans that don't meet Affordable Care Act standards — including, potentially, waiving the pre-existing condition rules — as long as they also sell plans that comply with all of the ACA insurance regulations.

What to watch: Among the issues CBO would have to weigh: would the non-ACA plans be cheaper, what would happen to premiums in the ACA plans, and what would happen to the cost of federal subsidies.

Go deeper

The SAT is going digital

A practice SAT. Photo: Alex Garcia/Los Angeles Times via Getty Images

The College Board announced Tuesday that the SAT will be delivered digitally in the U.S. in 2024.

Why it matters: The College Board said it's seeking to make the SAT "more relevant," as some colleges start to ditch the college admissions exam altogether.

2 hours ago - Health

Pfizer begins clinical trial for Omicron-specific COVID vaccine

A health worker in Palestine preparing a dose of the Pfizer-BioNTech's coronavirus vaccine on Jan. 24. Photo: Majdi Fathi/NurPhoto via Getty Images

Pfizer and BioNTech announced Tuesday that they have started clinical trials for a reformulated vaccine to protect against the Omicron coronavirus variant.

Why it matters: The rise of the Omicron variant has forced vaccine makers to reassess the effectiveness of their vaccines.

Retail stock traders power stunning comeback after deep selloff

Illustration: Megan Robinson/Axios

Stocks staged a Patrick Mahomes-esque comeback Monday, after plunging for the first few hours of trading.

Why it matters: The remarkable recovery suggests that retail traders who upended markets over the last year — most notably during the GameStop bonanza that occurred almost exactly a year ago — continue to be powerful influence in the markets.