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Photo: Alex Wong/Getty Images

Top allies of President Trump in the House Republican conference circulated a petition on Wednesday demanding that Rep. Liz Cheney (R-Wyo.) resign from her leadership position over her support for Trump's impeachment.

Why it matters: It captures the stark divisions in the GOP between the die-hard Trump loyalists and the establishment Republicans who want him gone for good.

The backdrop: Cheney, who as GOP conference chair is the third-ranking House Republican, publicly announced her support for impeaching President Trump on Tuesday, saying there has "never been a greater betrayal" by a president than his incitement of the Capitol siege.

Details: The petition states that Cheney's support for impeachment has "been used multiple times by Democrats as justification" for the process.

  • Cheney's "personal position on issues does not reflect that of the majority of the Republican Conference and has brought the Conference into disrepute and produced discord," the petition states.
  • Rep. Jim Jordan (R-Ohio), who remains one of Trump's most loyal allies, told reporters on Wednesday that House Republicans "ought to vote on" whether to keep Cheney as conference chair.

The state of play: Five House Republicans, including Cheney, have said they will vote to impeach Trump.

Go deeper: Top Republicans want Trump done — forevermore

Go deeper

Scoop: GOP ignored its early fears about Marjorie Taylor Greene

Rep. Marjorie Taylor Greene. Photo: Stefani Reynolds/Bloomberg via Getty Images

During previously unreported meetings last summer, House Republican leaders discussed — but then largely set aside — fears that QAnon-supporting conspiracy theorist Marjorie Taylor Greene would end up a flaming trainwreck for their party.

Why it matters: Greene has emerged not just as an embarrassment but a challenge for the GOP, with House Minority Leader Kevin McCarthy now forced to weigh whether to maintain his policy of sanctioning members who make dangerous statements.

The Mischief Makers

Illustration: Sarah Grillo/Axios

Several Republican and Democratic lawmakers are emerging as troublemakers within their parties and political thorns for their leadership.

Why it matters: We're calling this group "The Mischief Makers" — members who threaten to upend party unity — the theme eclipsing Washington at the moment — and potentially jeopardize the Democrats' or Republicans' position heading into the 2022 midterms.

Dion Rabouin, author of Markets
23 mins ago - Economy & Business

Stock buybacks are kicking back into high gear

Illustration: Aïda Amer/Axios

It was expected that with the economy improving and company balance sheets already loaded with cash, U.S. firms would slow down their debt issuance in 2021 after setting records in 2020. But just the opposite has happened.

Why it matters: Companies generally issue bonds for one of two reasons — because they're worried about not having enough cash to cover their expenses or because they want to lever up and make risky bets.

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