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Photo: Saul Loeb/AFP via Getty Images

House Oversight Chair Carolyn Maloney (D-N.Y.) on Thursday released a memo arguing that House Democrats' subpoena for President Trump's financial records already meets the requirements set out by the Supreme Court for Congress to obtain those documents.

The backdrop: The Supreme Court kicked House Democrats' subpoena back to a lower court last month, ruling that neither side had put forward a compelling analysis of how to balance congressional subpoenas with the separation of powers.

  • "The House's approach would leave essentially no limits on the congressional power to subpoena the President’s personal records. A limitless subpoena power could transform the established practice of the political branches and allow Congress to aggrandize itself at the President's expense," Chief Justice John Roberts wrote in the Supreme Court's ruling.

Worth noting: The subpoena doesn't target Trump directly, but is instead addressed to Mazars USA, the president's longtime accounting firm.

What they're saying: The memo from House Democrats argues that Trump's "non-public financial information is the best evidence to help Congress develop and enact legislation to promote transparency, enhance public confidence in the integrity of elected officials including the President, and prevent grave conflict of interests for this and any future presidents."

  • It says that the subpoena will move forward the House's "investigations into presidential ethics and conflicts of interest, presidential financial disclosures, and presidential adherence to constitutional safeguards to prevent corruption and undue influence, in aid of Congress’s consideration of presidential ethics reforms."

Read the memo.

Go deeper

How the Supreme Court is handling election cases

Photo: Xinhua/Ting Shen via Getty Images

The Supreme Court has tried to tread lightly so far in election-related cases — but that could change after Nov. 3.

The big picture: In its pre-election rulings, the court has largely preserved the status quo. But in the details and nuances of those decisions, it may have laid a foundation for a more conservative approach in its next wave of election cases.

Buffett eyes slow U.S. progress, but says "never bet against America"

Warren Buffett in New York City in 2017. Photo: Daniel Zuchnik/WireImage

Warren Buffett called progress in America "slow, uneven and often discouraging," but retained his long-term optimism in the country, in his closely watched annual shareholder letter released Saturday morning.

Why it matters: It breaks months of uncharacteristic silence from the 90-year-old billionaire Berkshire Hathaway CEO — as the fragile economy coped with the pandemic and the U.S. saw a contentious presidential election.

Restaurant software meets the pandemic moment

Illustration: Annelise Capossela/Axios

Food delivery companies have predictably done well during the pandemic. But restaurant software providers are also having a moment as eateries race to handle the avalanche of online orders resulting from severe in-person dining restrictions.

Driving the news: Olo filed last week for an IPO and Toast is rumored to be preparing to do the same very soon.