Mar 6, 2017

The GOP's coverage loss problem may be bigger than we thought

AP file photo

Chris Jacobs, a well-known conservative health care analyst and former adviser to Bobby Jindal, writes in The Federalist that he's found out how bad the estimates were for the original House Republican Obamacare replacement draft. Citing sources close to the effort, he says the Congressional Budget Office warned congressional staffers that the original version could have caused 10-20 million people to lose employer health coverage. And the uninsured could have increased by as much as 15 million, he says — "nearly as much as repealing the law outright."

Why it matters: Republicans have moved on from that draft, and the bill that could be introduced as soon as today is likely to have substantial changes. But that's why it will be critical for House Republicans to have new estimates from the Congressional Budget Office before the health care committees vote on anything, Jacobs writes — and it's not clear that that will happen.

The bottom line: "Members who vote for a bill without knowing its full fiscal effects, yet will be held politically responsible for said effects, do so entirely at their own risk."

Go deeper

Scoop: Top NSC official reassigned to Energy Department amid "Anonymous" fallout

Photo: Mark Wilson/Getty Images

Deputy national security adviser Victoria Coates will be reassigned as a senior adviser to Energy Secretary Dan Brouillette, the National Security Council said Thursday — and a senior White House official said that the administration "rejects" the rumors that she is "Anonymous."

Why it matters: Coates has battled claims that she is the still-unknown Trump administration official that penned a New York Times op-ed and book critical of President Trump.

The Fed may be setting the table for 2020 rate cuts

Illustration: Sarah Grillo/Axios

The Fed looks to be laying the groundwork to lower U.S. interest rates this year, just as they did in April 2019 before cutting rates in July, September and October.

Why it matters: A Fed rate cut makes taking on debt more attractive for U.S. consumers and businesses, helping to juice the economy, but also puts the central bank in a weaker position to fight off a potential recession.

Morgan Stanley to buy E*Trade in a $13 billion deal

Photo: Rafael Henrique/SOPA Images/LightRocket via Getty Images

Morgan Stanley is planning to buy E*Trade Financial Corp. in a $13 billion all-stock deal, the Wall Street Journal reports, with plans to acquire the company known for helping everyday Americans manage their money.

Why it matters: The deal, which would be the largest by a major American bank since the financial crisis, signals Morgan Stanley‘s desire to bulk up in wealth management.