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Photo: Mandel Ngan/AFP/Getty Images

The White House has walked back its plan to cut $252 million in leftover funding from the Obama administration to curb the Ebola virus in Africa, the AP reports.

Why it matters: There has recently been an Ebola outbreak in the Democratic Republic of the Congo. The White House said last week the USAID has contributed up to $8 million to combat the Ebola outbreak, including $5 million allocated from the Secretary of State.

The backdrop: The proposal to cut funding is connected to a $15 billion "rescissions" package the White House sent to Congress in early May for approval, but has since lost traction on the Hill. The administration wanted to slash funds from 38 programs, including the Children's Health Insurance Program (CHIP) and the Affordable Care Act, which an official had said "are just sitting in accounts" and not being used.

  • The White House is also walking back its plan cut $107 million appropriated to assist communities ravaged by hurricane Sandy in 2012 to rebuild watersheds and floodplains, per the AP.

Go deeper

Updated 38 mins ago - Politics & Policy

Inauguration Day dashboard

Screenshot: Fox News

President Trump has delivered a farewell speech and departed Washington for the last time on Air Force One, 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.

Updated 54 mins ago - Politics & Policy

Trump departs on final Air Force One flight

President Trump and his family took off on Air Force One at 9 a.m. on Wednesday morning for the final time en route to Florida.

The big picture: Trump's final hours as president were punctuated by his decisions to snub his successor's inauguration and grant pardons to many of his allies who have been swept up in corruption scandals.

Dion Rabouin, author of Markets
2 hours 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.