Oct 31, 2018

CMS approves Medicaid work requirements in Wisconsin

President Trump and Wisconsin Gov. Scott Walker. Photo: Chip Somodevilla/Getty Images

The Centers for Medicare & Medicaid Services has signed off on Wisconsin Gov. Scott Walker's proposal to add work requirements to the state's Medicaid program. Wisconsin is the fifth state to win approval for work requirements, which are expected to substantially trim the states' Medicaid rolls.

Why it matters: Wisconsin is the only one of those states that hasn't adopted the Affordable Care Act's Medicaid expansion — which has been a top issue in Walker's competitive re-election bid. Approving work rules in a non-expansion state is another sign that this is one of the Trump administration's most important health care priorities, and it's moving as fast as it can to say "yes."

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Sen. Kelly Loeffler liquidates stocks after uproar over coronavirus sell-off

Sen. Kelly Loeffler. Photo: Madnel Ngan/AFP via Getty Images

Sen. Kelly Loeffler (R-Ga.) and her husband Jeffrey Sprecher are liquidating their stock portfolio and moving holdings into exchange traded funds (ETFs) and mutual funds after coming under fire for purchasing and selling roughly $1.4 million in stock just before the market crashed in response to the coronavirus pandemic.

Why it matters: Loeffler, who faces a competitive election fight in November, is one of several senators under fire for selling shares shortly after a private briefing on the coronavirus — sparking accusations of insider trading.

Sanders: "While this campaign is coming to an end, our movement is not"

Addressing his supporters via livestream after suspending his campaign, Bernie Sanders congratulated Joe Biden on his presumptive victory in the 2020 Democratic presidential primary while making clear that his fight for progressive ideas will not end with his candidacy.

What he's saying: "While this campaign is coming to an end, our movement is not. Dr. Martin Luther King Jr. reminded us that 'the arc of the moral universe is long, but it bends towards justice.' The fight for justice is what our campaign has been about. The fight for justice is what our movement remains about."

Fed temporarily lifts Wells Fargo's growth restrictions

Photo: Streeter Lecka/Getty Images

The Federal Reserve said Wednesday it will temporarily lift Wells Fargo’s growth restrictions, which were put in place following the bank’s customer abuse scandals.

Why it matters: The Fed’s only reason for lifting the cap is so Wells Fargo can dole out more loans to struggling small businesses as part of the government’s coronavirus aid package. Earlier this week, the bank said it could only lend a total of $10 billion, thanks to Fed restrictions that it can’t grow its assets beyond $1.95 trillion.