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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.

Home confinees face imminent return to prison

Illustration: Aïda Amer/Axios

Thousands of prisoners who've been in home confinement for as long as a year because of the pandemic face returning to prison when it's over — unless President Biden rescinds a last-minute Trump Justice Department memo.

Why it matters: Most prisoners were told they would not have to come back as they were released early with ankle bracelets. Now, their lives are on hold while they wait to see whether or when they may be forced back behind bars. Advocates say about 4,500 people are affected.

The "essential" committee that still doesn't exist

House Speaker Nancy Pelosi. Photo: Stefani Reynolds/Getty Images

Nearly five months after House Speaker Nancy Pelosi (D-Calif.) announced the creation of the bipartisan Select Committee on Economic Disparity and Fairness in Growth, it's not been formed much less met.

Why it matters: Select committees are designed to address urgent matters, but the 117th Congress is now nearly one-quarter complete without this panel assembling. When she announced this committee, Pelosi described it as an "essential force" to "combat the crisis of income and wealth disparity in America."