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Trump to cut off key Obamacare subsidies: report
President Donald Trump intends to cut off key payments to health insurers, Politico reported Thursday night, in his most aggressive move yet to scrap Obamacare. Politico said the $7 billion in annual subsidies could end almost immediately, since Congress has not allocated any funds for the program. For months, Trump has threatened to cut off the payments, but many Republican lawmakers opposed the move because of the turmoil it could cause to insurance markets, including increased premiums. Politico said Trump may announce the cuts Friday. Late Thursday night, the attorneys general of New York and California said that a coalition of states would sue to preserve the subsidies if Trump moves against them. Earlier Thursday, Trump signed an executive order encouraging cheap insurance plans not subject to Affordable Care Act rules.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
FBI was wiretapping ex-Trump campaign chairman Manafort as late as this year: report
Former Trump campaign chairman Paul Manafort was secretly wiretapped by the FBI before and after the presidential election, CNN reported late Monday. The report said the surveillance continued until early this year, a time period when Manafort and President Donald Trump were still communicating, though it was not immediately clear if his conversations with Trump had been captured. CNN said special counsel Robert Mueller's investigative team has been given details of Manafort's intercepted communications. While sources told CNN the evidence may not be not conclusive, FBI investigators were reportedly concerned that Manafort was encouraging Russian meddling in the election. The secret surveillance order was first approved by the Foreign Intelligence Surveillance Act court in 2014, and renewed at some point last year. Earlier this summer, Manafort's home was raided by the FBI and his spokesman subpoenaed by the Mueller investigation. In late August, it was reported that Mueller was working with New York Attorney General Eric Schneiderman in his Manafort investigation to share potential evidence of financial crimes. In a separate report Monday, the New York Times said Mueller's investigators told Manafort during the raid on his house that they planned to indict him.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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