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Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

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President Trump at Arlington National Cemetary. Photo: Yuri Gripas-Pool/Getty Images

While speaking to reporters at Arlington National Cemetery on Saturday, President Trump called the latest ruling on the Affordable Care Act by United States Judge Reed O'Connor in Texas, reversing the health care act, a "big, big victory," and said a new health care policy will be discussed with the Democrats if the Supreme Court upholds the ruling.

"We'll be sitting down with the Democrats and we will get great health care for our people, that's a repeal and replace, handled a bit differently"
— President Trump on the Texas ruling

The big picture: The ruling reversing the Affordable Care Act in Texas puts former President Barack Obama's signature legislation in real jeopardy.

This could end in the Affordable Care Act being completely wiped out, Axios' David Nather explains. "There’s no guarantee that a more conservative Supreme Court won’t just let the law die."

Details: The ruling broadly struck down everything related to the ACA, including the individual mandate, expansion of Medicaid, young adults remaining on their parents plants and pre-existing condition coverage.

The bottom line: The ruling will be appealed and there is no injunction shutting the law down right now and there is no impact on coverage immediately or for 2019. But the Affordable Care Act is in real danger.

Go deeper

Erica Pandey, author of @Work
1 hour ago - Economy & Business

What's really going on with the labor market

Source: YCharts

The labor market is showing some signs of improvement: Jobless claims fell to 730,000 — a dramatic drop from 841,000 the previous week. And the latest jobs report showed a pandemic-era low unemployment rate of 6.3%

But, but, but: That's not the full story, experts say.

Felix Salmon, author of Capital
1 hour ago - Economy & Business

Markets see rare convergence milestone

Expand chart
Data: YCharts; Chart: Axios Visuals

A milestone was reached in the markets Thursday: The yield on the 10-year Treasury note rose to match the dividend yield on the S&P 500

Why it matters: The two yields have been inverted since the beginning of last year, which is historically unusual.

Mike Allen, author of AM
2 hours ago - Economy & Business

First look: Business puts muscle behind Biden

Business Roundtable, the voice of America's top CEOs, today launched "Move the Needle," a campaign to support President Biden in rolling out COVID vaccines, increasing vaccine uptake and encouraging masks.

What they're saying: "Masks and vaccines are working. Now is the time to keep at it, overcome pandemic fatigue, and double down on the measures that will end this public health and economic crisis, said Business Roundtable president and CEO Josh Bolten.

You’ve caught up. Now what?

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