Axios

George Soros, the billionaire megadonor to the Democratic Party, is setting up a super PAC called Democracy PAC for spending operations for the 2020 election, a filing to the Federal Election Commission Wednesday shows.

The big picture: Soros has put $5.1 million into Democracy PAC so far, according to the filing. Other Soros family members may contribute to the super PAC, Politico reports, citing a person familiar with the group. His son Alexander Soros has emerged as a major Democratic donor in recent years.

Go deeper: Why George Soros is a favorite target of the right

DETROIT, Mich. — The biggest lesson Joe Biden learned from the first debate is that there are no rules of engagement at these things, and he's ready to throw down at tonight's debate, according to five senior campaign officials.

What to watch: Yes, he's going to keep contrasting himself with President Trump. But he's squarely focused on Sen. Kamala Harris, too, after the first debate in Miami.

About 80% of U.S. counties lost prime working-age adults between 2007 and 2017, and 65% will lose more over the next decade.

Why it matters: While population decline is affecting parts of every state, the loss of the working-age population is being felt most acutely in places that are already struggling economically, according to an analysis by the Economic Innovation Group and Moody's Analytics.

The Federal Election Commission (FEC) announced Wednesday that it is seeking public comments on a rule-making petition that would define "valuable information" as an official campaign contribution that must be regulated.

Why it matters: It is already illegal for campaigns to accept foreign contributions, so if passed, this rule would institute an outright ban on campaigns accepting unregulated "foreign" and "compromising" information, according to the proposed guidelines. President Trump told ABC's George Stephanopoulos last month that if a foreign government offered dirt on a political opponent, "I think I'd take it."

Elizabeth Warren and Bernie Sanders looked like Democrats' de facto leaders and policymakers last night, in the opening half of the party's back-to-back Debate 2.

The state of play: The two progressives dominated the clock. Warren had the most speaking time and Sanders was second, with Pete Buttigieg third.

The pro-Trump super PAC America First Action and its affiliated 501(c)(4) nonprofit, America First Policies, have jointly raised $17.83 million in the first 6 months of 2019 and will report $21 million cash on hand to the Federal Election Commission, according to an America First Action official.

Where it stands: The conservative organization, which Trump has blessed and which is led by former Small Business Administrator Linda McMahon, reports having jointly brought in 16,649 total donations from 11,655 unique contributors. An America First Action official also told Axios it has $40 million in outstanding donor pledges, and has collected $3.75 million of those pledges since the end of the reporting period on June 30.

State attorneys general have become some of the most powerful forces fighting the Trump White House — pushing back against its agenda on hot topics like immigration, energy, health care and more.

Why it matters: With little legislative action happening in Congress, the executive branch has taken into its own hands implementing the White House agenda. Those efforts have been increasingly challenged by attorneys general — usually Democrats — and some have been blocked by the courts.

In the absence of frontrunner Joe Biden, the first night of the second round of Democratic presidential debates on Tuesday saw former Rep. John Delaney, who is polling at less than 1%, assume the unlikely role of moderate foil to progressive heavyweights Bernie Sanders and Elizabeth Warren.

The big picture: CNN moderators largely (and predictably) framed the debate as whether Democrats are drifting too far to the left with policies like Medicare for All, the Green New Deal proposal and free college tuition. Those that expected Warren and Sanders to turn on one another were likely disappointed — the pair spent most of the night tag teaming moderates like Delaney, Montana Gov. Steve Bullock and Rep. Tim Ryan, urging them to dream big on policy and "stop using Republican talking points."

Race was a hot-button issue at Tuesday's Democratic debate, with candidates asked to respond to what many have condemned as racist and divisive rhetoric by President Trump.

Driving the news: Author Marianne Williamson had her crystalizing moment with her answers on how to heal racial divides in the U.S., earning huge rounds of applause after proposing $200 billion to $500 billion in reparations for the descendants of slaves and condemning the state of water quality in Flint, Michigan.

10 Democrats have taken the stage for the first night of the second round of debates. Here's a look at the scene.

Details...

Go deeper: Debate night: Warren, Sanders vs. the moderates

Sen. Elizabeth Warren hit back at former Rep. John Delaney over what he dubbed her "impossible promises" — policies like Medicare for All, the Green New Deal and free college — arguing that she doesn't understand why anybody "goes to all the trouble of running for president of the United States just to talk about what we really can't do and shouldn't fight for."

House Intelligence Committee member Rep. Mike Conaway (R-Texas) won't seek re-election next year, Politico reported Tuesday, citing multiple GOP sources.

Why it matters: This is the 5th retirement of a GOP lawmaker in 2 weeks, as Politico journalist Jake Sherman notes. Conaway had served in Congress for 15 years.

Washington National Cathedral's leaders said Tuesday that President Trump uses "dangerous" and "violent dehumanizing words" to attack minority lawmakers and the city of Baltimore — warning that "violent words lead to violent actions."

"[T]hey are a clarion call, and give cover, to white supremacists who consider people of color a sub-human 'infestation' in America. They serve as a call to action from those people to keep America great by ridding it of such infestation."