Tom Steyer. Photo: Ethan Miller/Getty Images

Personal financial disclosures have become a litmus test for Democratic 2020 hopefuls, as candidates link their tax disclosures with the long-standing fight to obtain President Trump’s tax returns.

Our thought bubble, per Axios' Alexi McCammond: It will likely be politically toxic for any 2020 Democrat not to release their tax returns, since this is an example of how anything they demand of Trump they must do themselves. This is Democrats’ way of separating themselves from Trump, trying to get back to norms and pushing for transparency.

  • Yes, but: This trend could easily set up a situation in which all Democrats release their returns and Trump still won’t release his — and voters may not care.

The candidates who have released their taxes this cycle:

Go deeper: 2020 presidential election: Track which candidates are running

Editor's note: Kirsten Gillibrand and Jay Inslee have since dropped out of the 2020 presidential race.

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Why it matters: College football players have never had more leverage than they do right now, as the sport tries to stage a season amid the pandemic. And their willingness to use it shows we've entered a new age in college sports.

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Illustration: Aïda Amer/Axios

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The big picture: Investors continue to pack in even as inflation metrics like the consumer price index (CPI) and personal consumption expenditure (PCE) index have remained anchored.

Scoop: Top CEOs urge Congress to help small businesses

Illustration: Eniola Odetunde/Axios

With a new coronavirus relief measure stalled in Congress, CEOs of some of the world's biggest companies have banded together to send a message to Washington: Get money to small businesses now!

Why it matters: "By Labor Day, we foresee a wave of permanent closures if the right steps are not taken soon," warns the letter, organized by Howard Schultz and signed by more than 100 CEOs.