A populist bidding war has erupted on the 2024 campaign trail, producing an unusual convergence of policy proposals between Vice President Harris and former President Trump, Axios' Zachary Basu writes.

• Why it matters: In an election both sides are treating as existential, ruthless politics are the name of the game. In some cases, that means skimping on details or abandoning sound economics.

Zoom in: In her first major policy address, Harris unveiled an economic agenda that includes a $6,000 child tax credit for families during the first year of a newborn's life.

• Within hours, a Trump campaign official told Semafor that Trump would "consider a significant expansion of the child tax credit," citing Sen. JD Vance's (R-Ohio) recent advocacy for a $5,000 credit.
• Restoring the pandemic era's enhanced child tax credit has long been a priority for Democrats. But Vance's proposal suddenly has some Trump allies claiming policy theft.

🖼️ The big picture: Harris, whose 28-day-old campaign is playing catch-up on the economy, has been accused of flip-flopping on past positions, distancing herself from President Biden and — in some cases — outright pandering.

• But some elements of her agenda simply reflect the realignment of partisan politics — and an American electorate that has found common ground on some big issues:

1. Inflation: Harris is making a concerted effort to shake off Biden's economic baggage, beginning with a blunt acknowledgment yesterday that costs have surged for food, gas and housing.

• "We couldn't have said it better ourselves," Trump campaign tweeted alongside a supercut of Harris rattling off the various ways high prices are affecting American families.

2. Border security: Keenly aware of Trump's polling advantage on immigration, Harris released an ad last week vowing to "hire thousands more border agents and crack down on fentanyl and human trafficking."

• It's still a far cry from Trump's pledge to carry out mass deportations. But Democrats' positioning on the border has shifted radically over the last four years.

3. No tax on tips: The same day she was endorsed by Nevada's powerful Culinary Union, Harris promised to eliminate taxes on tips — enraging Trump, who had made a similar pledge two months earlier.

4. No fracking ban: Harris has maintained "strategic ambiguity" on hot-button energy issues, but no longer favors a ban on fracking on federal lands — a prerequisite to winning Pennsylvania, the most important swing state.

5. Deficits don't matter: Left unsaid in both Harris and Trump's economic plans is how they will pay for them — a signature characteristic of populism that reflects how both parties treat the deficit while in power.

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President Biden will make defense of democracy and his partnership with Vice President Harris the central themes of his prime-time address at the Democratic National Convention in Chicago on Monday, Axios' Hans Nichols reports.

• Why it matters: It's part of a complicated — but quick — handoff to Harris, the successor Biden chose under duress.

Between the lines: Biden is proud of his presidency, the bills he signed into law and an economy that continues to grow. So are many Democrats.

• The challenge will be in turning their shared past into Harris' singular future.

Biden's speech is an opportunity for him to prove he was always more interested in former President Trump's defeat than his own victory.

• He has been working on his address with Mike Donilon, who recently returned to the White House from the campaign, and Vinay Reddy, his chief speechwriter.

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The share of job listings that advertise remote or hybrid work has declined from its 2022 peak — but is still far greater than pre-pandemic levels, Axios' Emily Peck writes from Indeed data.

• Only 2.6% of job postings offered remote options in 2019. By May 2022, the number rose to more than 10%. And this past July, 7.6% of listings offered remote or hybrid options.

🔭 The big picture: Remote and hybrid work is settling into a new normal — more prevalent than five years ago, but not quite at the levels seen during the Great Resignation.

👀 Between the lines: CEOs seem to be an exception.

• Incoming Starbucks CEO Brian Niccol won't have to relocate to Seattle headquarters from his current home in Newport Beach, Calif.
• Hillary Super, the new CEO of Victoria's Secret, won't be relocating to the company's headquarters in Ohio. Instead, she'll fly in from New York.

Though there's no comprehensive data, there are many examples of CEOs who are "working from anywhere," says Raj Choudhury of Harvard Business School.

• "I think the CEO going remote is commendable," he says. The next step would be giving other employees similar flexibility.

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House Democrats attending next week's Democratic National Convention are being advised by congressional security officials not to book hotel rooms under their own names or engage with protesters if confronted, Axios' Andrew Solender has learned.

• Why it matters: The guidance comes as some Democratic lawmakers are fearful about their safety after being rattled by a series of disruptive pro-Palestinian protests since the Israel-Hamas war started last year.

In guidance sent to Democratic congressional offices and obtained by Axios, the House sergeant-at-arms' office wrote: "If you are confronted by protesters, try not to engage and report to [Capitol Police]."

• One lawmaker told Axios members were urged not to book hotel rooms in their names because "hotels have been getting random calls asking for people."

Tens of thousands of pro-Palestinian demonstrators are expected to converge on the convention in Chicago next week to protest U.S. funding for Israel's war in Gaza, Axios Chicago's Monica Eng reports.

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President Biden is aiming for a Gaza ceasefire and hostage release deal by the end of next week while also trying to deter Iran and Hezbollah from conducting an attack on Israel that could undermine this effort, U.S. officials tell Axios' Barak Ravid.

• Why it matters: Biden and his aides say they feel they're closer than ever to getting a deal that could lead to the release of hostages being held by Hamas in Gaza, including American citizens — and end 10 months of war that has killed more than 1,600 Israelis and 40,000 Palestinians.

"I'm optimistic. It's far from over. Just a couple more issues. I think we've got a shot," Biden told reporters on Friday.

⚡ The latest: Yesterday, at the end of a two-day summit in Doha, the U.S. presented a new proposal to Israel and Hamas in an effort to close the remaining gaps and reach a deal.

• A U.S. official said the proposal bridges nearly all of the remaining gaps that have been under discussion for the past six weeks.

Biden called the Emir of Qatar and the President of Egypt to discuss the proposal and the plan for the coming days, the White House said.

• "There was a consensus between all three leaders that this process is now in the end game," a senior U.S. official said.

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Andreessen Horowitz, the venture capital giant, will open its first Asian office in Japan, Nikkei reports.

• Why it matters: Silicon Valley firms are courting Japanese investors as U.S.-China tensions over high-tech industries, like AI and semiconductors, keep intensifying.

"Japan has lagged behind in fostering startups and was not previously considered a primary fundraising target for overseas venture capitalists. However, it is emerging as a key alternative to China," according to Nikkei.

• Andreessen Horowitz (a16z) established its first international office in London last year.

Expect fewer hallways and more nooks that work as "pocket offices" or kid-friendly alcoves in newly built homes.

• Why it matters: Builders and architects say they're using every square foot of space as they shrink houses to cut costs, Axios' Sami Sparber reports.

👀 Case in point: Listed for about $155,000, one of developer Lennar's brand-new homes in San Antonio offers 661 square feet of space — nearly all of which is open concept, except the primary suite and extra bathroom, which are tacked at the ends of each floor.

🔭 Zoom out: Over a third (38%) of U.S. builders say they constructed smaller houses last year, and 26% plan to go even smaller this year, according to the National Association of Home Builders.

• The downsizing comes as high interest rates have hiked costs for both buyers and builders.

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Former President Obama posted his annual summer reading list this week. Some highlights:

• "James" by Percival Everett reimagines "The Adventures of Huckleberry Finn" from the perspective of Jim, the novel's escaped slave.
• "Everyone Who Is Gone Here: The United States, Central America, And The Making Of A Crisis" by Jonathan Blitzer looks at the past and present of America's border crisis.

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