Trump Pence, McConnell and Ryan in the Oval Office. Photo: Evan Vucci / AP

Momentum is shifting towards the House taking up and passing the Senate budget. The House Freedom Caucus and other House conservatives have signaled to leadership that they'd be willing to comply with President Trump's request to move quickly and skip the conference. House and Senate sources were optimistic Thursday evening after working all day on this deal; but nothing is sealed yet.

Why this matters: If they cut this deal it shows that Republicans in both the House and Senate are willing to bend over backwards and make concessions so tax reform can get moving.

  • Top sources in both chambers signal it's likely — though not certain — that the Senate adds a budget amendment that appeases the House. Then the House can pick up and pass the Senate budget, paving the way to get to tax reform. The amendment is expected to be highly technical in nature; and we don't have full details yet.
  • A source close to House Budget Chairman Diane Black: "Chairman Black has been working with the White House and House and Senate leadership on an amendment to the Senate budget that would allow both chambers to be unified and move quickly to tax reform."

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Trump's new TikTok threat

Photo illustration: Aïda Amer/Axios. Photo: Jim Watson/AFP via Getty Images

President Trump said twice Monday that the U.S. Treasury would need to get a portion of the sale price of TikTok, as a condition of regulatory approval.

Why it matters: This is akin to extortion — the sort of thing you'd expect to hear on a wiretap, not from the White House in front of reporters.

Ford names James Farley as new CEO amid ongoing turnaround effort

James Hackett, left, is retiring as Ford CEO. Jim Farley, right, takes over Oct. 1. Photo: Ford

Ford announced Tuesday that James Farley will take over as its next CEO, replacing James Hackett, 65, who is retiring after three years in the job.

Why it matters: It leaves Farley to complete the company's ongoing turnaround effort. The transition will be that much harder as the industry tries to navigate the coronavirus-induced economic slowdown which shuttered Ford plants for two months on the eve of some of its most important vehicle launches.

Updated 3 hours ago - Politics & Policy

Watch the full "Axios on HBO" interview with President Trump

In this episode of “Axios on HBO”, President Trump discusses his handling of the coronavirus pandemic, the upcoming election and much more with National Political Correspondent Jonathan Swan.

The interview was filmed on Tuesday, July 28 and aired Monday, Aug. 3 on HBO.