New today: House Speaker Paul Ryan won’t run for re-election, a decision whose timing was first reported by Axios’ Jonathan Swan.
By the time Nov. 6 rolls around, there will be at least 56 vacated House seats up for grabs — more than two-thirds of those are held by Republicans this term. The openings are significant because incumbents have outperformed non-incumbents of the same party in similar districts by about seven points in the last decade or so, per the New York Times.
President Trump said Monday that TikTok will be shut down in the U.S. if it hasn't been bought by Microsoft or another company by Sept. 15.
Why it matters: Trump appears to have backed off his threat to immediately ban TikTok after speaking with Microsoft CEO Satya Nadella, who said Sunday that the company will pursue discussions with TikTok’s Chinese parent company ByteDance to purchase the app in the U.S.
Illustration: Sarah Grillo/Axios
Photo: Brendan Smialowski/AFP
The Manhattan District Attorney's office suggested for the first time Monday that it's investigating President Trump and his company for "alleged bank and insurance fraud," the New York Times first reported.
The state of play: The disclosure was made in a filing in federal court that seeks to force accounting firm Mazars USA to comply with a subpoena for eight years of Trump's personal and corporate tax returns.