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President Trump threatened on Twitter to end what he called "bailouts" for health insurance companies — a term he has used to refer to the payments insurers receive for the Affordable Care Act subsidies they are required to give to low-income people.

Why it matters: The Trump administration has been making the payments on a month-to-month basis, but health insurers have been worried that Trump would cut them off after the defeat of the Senate's ACA repeal plans. Without those payments, insurers warn that ACA premiums will skyrocket even more — because they still have to provide the subsidies and have to recover their costs.

Go deeper

28 mins ago - Politics & Policy

Trump leaves White House for the final time

President Trump took off on Marine One at 8:17 a.m on Wednesday morning, departing the White House for the last time, en route to Florida.

The big picture: Trump's final hours will be marked by snubbing his successor and granting pardons to many of his allies who have been swept up in corruption scandals.

Inauguration Day dashboard

Screenshot: Fox News

President Trump has left the White House en route to a farewell event at Andrews Air Force Base, kicking off the day that will culminate with President-elect Joe Biden taking office.

What's next: The inaugural celebration for young Americans is being livestreamed, starting at 10am.

Dion Rabouin, author of Markets
1 hour ago - Economy & Business

Janet Yellen said all the right things to reassure the markets

Illustration: Aïda Amer/Axios

Treasury Secretary nominee and former Fed chair Janet Yellen's confirmation hearing before the Senate Finance Committee on Tuesday showed markets just what they can expect from the administration of President-elect Joe Biden: more of what they got under President Trump — at least for now.

What it means: Investors and big companies reaped the benefits of ultralow U.S. interest rates and low taxes for most of Trump's term as well as significant increases in government spending, even before the coronavirus pandemic.