Photo: Bill Clark/CQ Roll Call

Congressman Jim Jordan (R-Ohio), founder of the House Freedom Caucus, has just sent a letter to his colleagues announcing that he is officially running to replace Paul Ryan as Speaker of the House, Axios has confirmed. The Daily Caller's Robert Donachie was the first to report the news.

The state of play: Several leaders of the conservative movement called on Jordan to announce his candidacy in May, arguing that House Republican leadership "has utterly failed" and "proven that it’s part of the Swamp," and that Jordan is the solution.

"Should the American people entrust us with the majority again in the 116th Congress, I plan to run for Speaker of the House to bring real change to the House of Representatives."
— Statement from Jordan announcing his run

Be smart:

  • Majority Leader Kevin McCarthy is the favorite among President Trump and Ryan, who endorsed him in April.
  • House Majority Whip Steve Scalise has also been floated as a potential replacement for Ryan.

The backdrop: Jordan has been under criticism in recent weeks for reports that he ignored claims of sexual abuse from a doctor at Ohio State University while he was an assistant wrestling coach. Trump has backed Jordan's denial, saying earlier this month, saying he's "one of the most outstanding people I've met since I've been in Washington."

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Scoop: Chinese biotech giant's U.S. subsidiary received PPP loan

Chinese biotech company BGI Genomics provided mobile labs for conducting COVID-19 tests at a sports center in Beijing. Photo credit: Xinhua/Chen Zhonghao via Getty Images.

A U.S. subsidiary of Chinese genomics company BGI Group received a loan through the Paycheck Protection Program (PPP), according to data on the program released by the U.S. Treasury Department this week.

Why it matters: BGI's close ties to the Chinese government, which is constructing a massive genetics database of its population, have raised concerns among U.S. officials.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 11:30 a.m. ET: 12,081,232 — Total deaths: 550,440 — Total recoveries — 6,639,503Map.
  2. U.S.: Total confirmed cases as of 11:30 a.m. ET: 3,057,431 — Total deaths: 132,360 — Total recoveries: 953,420 — Total tested: 37,431,666Map.
  3. Public health: Cases rise in 33 states — Fauci says states with severe outbreaks "should seriously look at shutting down"
  4. Education: How Trump's push to reopen schools could backfire — College sports stare down a disaster in the fall.
  5. Jobs: 1.3 million Americans filed for unemployment last week.
  6. Travel: Over 1,000 TSA agents have tested positive.

Supreme Court says Manhattan prosecutors can obtain Trump's financial records

Photo: Saul Loeb/AFP via Getty Images

The Supreme Court ruled Thursday that Manhattan prosecutors can obtain President Trump's financial records — and punted House Democrats' efforts to access similar records to a lower court.

Why it matters: The Manhattan ruling, a 7-2 decision, is a stinging loss for Trump, who has fought relentlessly to keep these records secret.