Health bill collapses, Senate eyeing full repeal; $5B in student loans may be wiped

Sound smarter today: Here's the news professionals are talking about on LinkedIn right now. Join the conversation by clicking the hashtags below.

President Trump and Senate Majority Leader Mitch McConnell have called for a repeal of Obamacare without a replacement now that the GOP replacement bill has been, for the moment, quashed. Two more Republican senators said yesterday that they’d oppose the latest version of the bill, leaving the party short of the votes needed to begin discussions. McConnell says the Senate will “vote on a full repeal of Obamacare, with two years before the repeal goes into effect to allow time to create a new system.” #ObamacareRepealCollapse

Up to $5 billion in private student loans could be wiped away — because of missing or incomplete paperwork from creditors, The New York Times reports. National Collegiate Student Loans Trusts, which holds roughly 800,000 student loans, is struggling to prove ownership of its loans as it aggressively pursues borrowers behind on their payments. Private student loans, not unlike subprime mortgages, are often made by banks and then sold, making it unclear who owns the loan. Judges have already dismissed dozens of lawsuits brought by creditors after they failed to prove that students owed the money. #StudentLoanWiped

Uber has launched tipping nationwide, one step toward repairing the company’s fraught relationship with its drivers. (Uber will also match tips on Tuesday to celebrate the first full day of launch.) The feature is a long time coming for many — particularly as rival Lyft has offered it since 2012 and boasts over $250 million in in-app tips. #UberTipping

Netflix surpassed its own expectations with record growth during the April-June period, adding 5.2 million new subscribers — more than 1 million of them in the US. The news sent shares of the dominant streaming site to an all-time high in after-hours trading. The second quarter has typically been Netflix’s slowest for subscriptions, but its latest projections show the war between streaming sites and cable is far from over. #Netflix100M

The House Budget Committee unveiled a 2018 budget proposal that it claims would result in a $9 billion surplus after a decade. The $1.1 trillion plan aims to kick off tax reform, curb Wall Street regulations, cut welfare spending, and increase the defense budget. The committee's budget calculations hit a partial snag before the blueprint was even released, however: It assumes a $204 billion deficit reduction from the passage of the House's Obamacare replacement, which appeared to crumble along with the Senate bill. #HouseBudget

Idea of the Day:  Having options in your career seems like the right idea — but you can have too much of a good thing, says Michael Wheeler, distinguished Harvard Business School professor and the country’s leading voice on negotiation. “While increasing your options can be beneficial for a time, there comes a point for making a decision and committing to it,” he writes. “People who fail to burn their bridges and don't commit to their true passions miss opportunities for deeper fulfillment.”

What's your take? Join the conversations on today's stories: #ObamacareRepealCollapse | #StudentLoanWiped | #UberTipping | #Netflix100M | #HouseBudget

From earlier today: #AmazonMeal | #H2BVisaExpansion

— Lorraine K. Lee & Katie Carroll / Share this using #DailyRundown