Health Care Debate Goes Into the Wee Hours of the Morning

The GOP health care plan cleared the first hurdle as the House Ways and Means Committee approved it. The passage comes as the American Medical Association and AARP both came out against it. Lawmakers debated the proposal into the wee hours, finally wrapping up discussion at 4 am Eastern Time. Oil has fallen back below $50 a barrel. West Texas Intermediate is at the lowest level of the year and suffered its worst one day percentage drop Wednesday in over a year. Oil prices have been falling as government data show the largest supply of oil on record. Staples (SPLS)  says this morning it will close 70 stores in the United States. The office supply retailer says it lost $1.46 a share versus a profit of 13 cents a share a year ago. The Chief executive says things are on track to get back to sustainable earnings and sales growth.