Photo: Win McNamee / Getty Images

President Trump is beginning to back off the idea of taking on welfare programs this year, per a new Washington Post report. Apparently he's heard from White House advisers and even Senate Majority Leader Mitch McConnell that it wouldn't be possible without Democratic support.

Why it matters: This could come as a disappointment to Republicans who want to reduce spending on programs like food stamps and housing, WaPo notes. But with other legislative items like immigration, infrastructure and government spending looming, advancing welfare reform could be difficult.

  • House Speaker Paul Ryan has said reducing spending on welfare programs is a priority, but per the Post, some House Republicans have said "they would welcome the push — but that it is going nowhere."
  • With immigration, the DACA deadline is on March 5, and Ryan has said that "he wants it done," the Post reports.
  • With infrastructure, the Post reports that Trump is worried Republicans won't support an infrastructure plan.

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Dion Rabouin, author of Markets
5 mins ago - Economy & Business

Investors have nowhere to hide

Photo: Jeenah Moon/Getty Images

The massive losses in oil prices and U.S. and European equities were not countered by gains in traditional safe-haven assets on Wednesday.

Why it matters: The unusual movement in typical hedging tools like bonds, precious metals and currencies means they are not providing investors an asset that will appreciate in the event of a major equity selloff.

Kendall Baker, author of Sports
9 mins ago - Sports

A look inside sports owners' political donations

Data: ESPN/FiveThirtyEight; Chart: Axios Visuals

Sports team owners in the four largest North American leagues (NFL, NBA, MLB, NHL) have donated over $46 million in federal elections since 2015, according to research conducted by ESPN and FiveThirtyEight.

By the numbers: Over the past three elections, $35.7 million of that money (77.4%) has gone to Republican campaigns and super PACs, compared to $10.4 million (22.6%) to Democrats.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Large coronavirus outbreaks leading to high death rates — Coronavirus cases are at an all-time high ahead of Election Day — Fauci says U.S. may not return to normal until 2022
  2. Politics: Space Force's No. 2 general tests positive for coronavirus
  3. World: Taiwan reaches a record 200 days with no local coronavirus cases
  4. Europe faces "stronger and deadlier" wave France imposes lockdown Germany to close bars and restaurants for a month.
  5. Sports: Boston Marathon delayed MLB to investigate Dodgers player who joined celebration after positive COVID test.