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Photo: Nicholas Kamm/AFP/Getty Images

A federal judge on Thursday issued a preliminary injunction blocking a new California law requiring presidential candidates to release their tax returns in order to appear on the primary ballot, the Los Angeles Times reports.

The big picture: It's an early, but symbolic victory for Trump, who is highly unlikely to win California in 2020 but sued the state last month to block implementation of the law. The injunction is likely to be appealed and the judge could make a final ruling as soon as next week. Earlier on Thursday, Trump sued the Manhattan district attorney over its efforts to obtain his tax returns as part of its investigation into hush money payments made during the 2016 election.

Go deeper

Dan Primack, author of Pro Rata
2 hours ago - Politics & Policy

Biden starts negotiating to raise capital gains tax rate

Illustration: Aïda Amer/Axios

President Biden wants to nearly double the capital gains tax paid by wealthy Americans, as first reported yesterday by Bloomberg and confirmed by Axios.

Counterintuitive: Biden's plan is better for private fund managers (hedge, PE, VC, etc.) than what he proposed during the campaign.

Scoop: Caitlyn Jenner makes it official for California governor

Caitlyn Jenner. Photo: Paul Archuleta/Getty Images

Former Olympic decathlete and reality TV star Caitlyn Jenner has filed her initial paperwork to run for governor of California and will officially announce her bid later today, her campaign tells Axios.

The big picture: Jenner, a longtime Republican, is seeking to replace Democratic Gov. Gavin Newsom in a recall election, hoping her celebrity status and name recognition can yield an upset in the nation's most populous state.

Kendall Baker, author of Sports
2 hours ago - Sports

New laws, new rules bring big changes to college sports

Illustration: Sarah Grillo/Axios

The college sports landscape could change more in the next six months than it has in the last 50 years, as the NCAA grapples with new competition, new laws and new rules.

How it works... 1. Startup leagues: Investors are flocking to new leagues that aim to compete with the NCAA, evidence of just how much opposition there is to the amateurism model — and how much belief there is in new ones.