Daily Rewind: Secret health bill revealed

The Senate finally unveiled its health care bill, which Republicans crafted entirely behind closed doors. Like the House bill, this draft includes steep cuts to Medicaid and eliminates Obamacare taxes on the wealthy. Here are the details:

• The bill would wind down Obamacare’s expanded Medicaid funding in 2021 and then phase it out after three years. That’s a slightly longer timeline than was offered in the House bill.
• The Senate bill would largely preserve Obamacare’s premium subsidies structure, which allows people to pay for individual coverage. However, fewer middle class Americans would be eligible for help.
• The Senate bill, like the House bill, would defund Planned Parenthood for one year.
• President Trump praised the bill at the White House today, saying: “It’s going to be very good.”
• Four Republican senators said they won’t vote for the bill. The GOP can only afford to lose two members of their senate caucus to pass the bill.
• The Congressional Budget Office is expected to reveal next week how much the Senate bill will cost and how any people would be covered.

Other business news to know:

Mark Zuckerberg explains Facebook’s new mission statement. The CEO told CNN Tech that it isn’t enough for Facebook to just connect people online. Now, the social media giant wants “to give people the power to build community and bring the world closer together.” Zuckerberg believes Facebook Groups are just the tool for that job. It’s the first time Facebook has overhauled its mission, which was previously “to give people the power to share and make the world more open and connected.” Read more from CNN Tech’s Laurie Segall and Heather Kelly.

Want more news? Check these stories out:

*Trump says he doesn’t have tapes of his talks with Comey (The Hill)

*Senate holds hearing on rolling back Dodd-Frank (CNNMoney)

*Sears Canada files for bankruptcy (CBC News)

You’re all caught up for now. We’ll see you back here tomorrow!

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