Photo: Alex Brandon/AP

Although the opposition from Sen. John McCain likely killed Republicans' latest health-overhaul plan, President Trump tweeted this morning that there's still hope: "I know Rand Paul and I think he may find a way to get there for the good of the Party!"

Paul is counted as a solid "no," so flipping him could bring Graham-Cassidy back to life. That's unlikely, though, so Republicans expect the bill to be defeated Wednesday, if Senate Majority Leader Mitch McConnell goes ahead with the vote.

Trump also tweeted this morning: "John McCain never had any intention of voting for this Bill, which his Governor loves. He campaigned on Repeal & Replace. Let Arizona down!"The most important sentence in McCain's statement is: "I believe we could do better working together, Republicans and Democrats, and have not yet really tried."

  • A close McConnell ally told me the process was "ridiculously slapdash," with little input or transparency.
  • Axios Caitlin Owens tweeted: "If the past month taught us anything, it's that not many Republicans took McCain's message to heart last time around."

Why did Senate Republicans decide to die on this hill again? The best explanation may come from the N.Y. Times' Carl Hulse:

  • "As more than 40 subdued Republican senators lunched on Chick-fil-A at a closed-door session last week, Senator Cory Gardner of Colorado painted a dire picture for his colleagues. Campaign fund-raising was drying up, he said, because of widespread disappointment among donors over the inability of the Republican Senate to repeal the Affordable Care Act or do much of anything else."
  • "Republicans say the fund-raising drop-off has been steep and across the board, from big donations to the small ones the party solicits online from the grass roots. They say the hostile views of both large and small donors are in unusual alignment."

Be smart: The vote that counted most may have been Jimmy Kimmel's. The ABC late-night host's passionate, detailed opposition — with fact checkers calling him correct about potentially unaffordable premiums for people in poor health — put Republicans in a hole they were ill-equipped to dig out of.

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Jeff Sessions loses Alabama Senate primary runoff

Jeff Sessions. Photo: Michael DeMocker/Getty Images

Former Attorney General Jeff Sessions has lost the Republican nomination for Senate to Tommy Tuberville in Alabama in Tuesday night’s primary runoff, AP reports.

Why it matters: Sessions had been the underdog in the race against former Auburn University head football coach Tommy Tuberville, who had the backing of President Trump. Tuberville will now face off against Sen. Doug Jones (D-Ala.) in November, who is considered to have one of the most vulnerable Democratic Senate seats in the country.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 9 p.m. ET: 13,273,537 — Total deaths: 577,006 — Total recoveries — 7,367,106Map.
  2. U.S.: Total confirmed cases as of 9 p.m. ET: 3,424,304 — Total deaths: 136,432 — Total recoveries: 1,049,098 — Total tested: 41,764,557Map.
  3. Politics: Biden welcomes Trump wearing mask in public but warns "it’s not enough"
  4. Public health: Four former CDC heads say Trump's undermining of agency puts lives at risk — CDC director: U.S. could get coronavirus "under control" in 4–8 weeks if all wear masks.

Bank CEOs brace for worsening economic scenario

JPMorgan CEO Jamie Dimon. Photo: J. Lawler Duggan/For The Washington Post via Getty Images

Wells Fargo swung to its first loss since the financial crisis — while JPMorgan Chase and Citigroup reported significantly lower profits from a year earlier — as the banks set aside billions of dollars more in the second quarter for loans that may go bad.

Why it matters: The cumulative $28 billion in loan loss provisions that banks have so far announced they’re reserving serves as a signal they’re preparing for a colossal wave of loan defaults as the economy slogs through a coronavirus-driven downturn.