Axios

Senate Majority Leader Chuck Schumer (D-N.Y.) confronted President Biden about his 2024 candidacy in a meeting in Delaware last week, Axios has learned.

Why it matters: Many Democrats in the chamber where Biden served for decades are skeptical that the president can win reelection in November.

For many Americans, tonight will be their first real introduction to Trumpism's 39-year-old heir.

Why it matters: Sen. J.D. Vance (R-Ohio) would be the youngest vice president elected since the Civil War, with a backstory already on Netflix and an ideology that meshes with the GOP's most loyal young Trumpers.

• Vance will speak tonight shortly after Donald Trump Jr., his close friend who helped forge Vance's connection with former President Trump.
• "He's the one guy in that movement that's a current politician that's out there that actually really speaks to sort of the America First people and isn't like sort of we'll be right back to the establishment, let's go back to the neocon warmongering," Don Jr. told Axios' Mike Allen yesterday at an Axios House event.

Vance is a major break from decades of Republican VP nominees who called themselves Reagan Republicans, including former Vice President Mike Pence.

• The big picture: Vance is all-in on the most distinct areas in which Trumpism has diverged from Reaganism.

Economy: "Vance believes that decades of liberalized global trade and immigration to the United States have been damaging for U.S. workers," Axios Macro co-author Neil Irwin writes.

• "Vance may emerge as a voice within the administration with whom business interests and traditional Reaganites clash."

Foreign policy: Vance was one of the first Senate Republicans to openly say they weren't concerned with Ukraine aid. "I don't really care what happens to Ukraine one way or the other," he said in 2022.

Trump touches his injured ear during his podium check today in Milwaukee.

For many Americans, tonight will be their first real introduction to Trumpism's 39-year-old heir.

Why it matters: Sen. J.D. Vance (R-Ohio) would be the youngest vice president elected since the Civil War, with a backstory already on Netflix and an ideology that meshes with the GOP's most loyal young Trumpers.

U.S. Secret Service Director Kimberly Cheatle told House lawmakers that the agency "failed" at its "no-fail mission" to protect former President Trump.

Why it matters: Cheatle's comments during a Wednesday briefing for House members came hours after Speaker Mike Johnson (R-La.) called for her resignation and announced plans for a bipartisan task force to probe Saturday's shooting.

President Biden is playing whack-a-mole with Democratic members of Congress, slamming down defections in one corner only for more to pop up elsewhere.

Why it matters: Multiple Democratic lawmakers told Axios they expect more of their colleagues to go public with calls for Biden to exit the 2024 presidential race before the nomination fight is wrapped up.

The first night of the Republican National Convention (RNC) drew 18.13 million viewers Monday night, up slightly from 2020, but down 21% from 2016, according to Nielsen.

Why it matters: Monday's convention marked former president Trump's first public appearance since an assassination attempt against him Saturday evening.

President Biden said in a new interview that he would consider dropping out of the 2024 presidential race if a doctor diagnosed him with a "medical condition."

Why it matters: Biden is battling a growing chorus of Democratic lawmakers calling on him to step aside after his disastrous debate performance last month sparked renewed worries about his age and fitness for office.

Geopolitical tensions between the U.S. and China are gripping the chip sector at a time when demand has never been higher.

Why it matters: Uncertainty around U.S. policy puts enormous pressure on an industry already strained by labor and capacity — but one that is critical to nearly all areas of the economy, as well as for national defense.

Miami Republican Rep. María Elvira Salazar said this week that the U.S. should "kill" some gang members who illegally enter the country before quickly softening her stance.

Why it matters: If former President Trump retakes the White House in November, he's promised a major law enforcement and military crackdown on undocumented immigration.

Special counsel Jack Smith on Wednesday asked the 11th Circuit to revive former President Trump's earlier dismissed classified documents case.

Why it matters: The case was thought to be the strongest against Trump, but his legal team secured wins from Judge Aileen Cannon, whose impartiality has routinely been questioned.

U.S. Senator and Banking Committee member Bill Hagerty (R-Tenn.) said that former president Donald Trump sees the potential of blockchain technology to advance the U.S. economy.

Why it matters: Blockchain technology has become a wedge issue between the two leading contenders for America's highest office, and it's an industry that's shown a willingness to spend an enormous amount of money to get supportive politicians elected.

Whoever wins in November, they'll have a nearly impossible time pursuing much of a domestic policy agenda through executive actions — tools that nearly every president has utilized to get around congressional opposition or respond to emergencies.

Why it matters: The Supreme Court, in its most recent term, rewrote the rules of the presidency. Presidents, now immune from prosecution for acts that involve their official powers, are personally more powerful than ever before. But as policymakers, they're now much weaker.

Senate Majority Leader Chuck Schumer (D-N.Y.) and House Minority Leader Hakeem Jeffries (D-N.Y.) collaborated to delay the process for formalizing President Biden as Democrats' nominee, Axios has learned.

Why it matters: It's a signal that the congressional leaders sympathize with rank-and-file Democrats who want more time to address concerns about Biden's ability to defeat former President Trump.

The U.S., Israel and the Palestinian Authority held a secret meeting last week to discuss the reopening of the Rafah crossing between Egypt and Gaza as part of a hostage and ceasefire deal, three Israeli and U.S. officials told Axios.

Why it matters: This was the first time since Oct. 7 that U.S., Israeli and Palestinian officials met together to discuss the day after the war ends in Gaza — a highly sensitive domestic political issue in both Israel and the Palestinian Authority.

House Speaker Mike Johnson (R-La.) called for Secret Service Director Kimberly Cheatle to resign and announced plans for a bipartisan task force to probe the shooting of former President Donald Trump.

Why it matters: Johnson's comments during a Fox News appearance Wednesday represent an escalation of the frustration House Republicans have expressed with what they've characterized as an an inability to get information from federal law enforcement officials.

Rep. Adam Schiff (D-Calif.) on Wednesday joined the ranks of Democratic members of Congress calling for President Biden to exit the 2024 presidential race.

Why it matters: Schiff is the most high-profile elected Democrat to call for Biden's withdrawal and the first to do so publicly since former President Trump was shot in an assassination attempt on Saturday.

MILWAUKEE – Top GOP lawmakers said former President Trump's decision to select Ohio Sen. J.D. Vance as his running mate will help them win in battleground states and relate to the needs of working class Americans in interviews with Axios reporters this week.

• Catch up quick: Axios House hosted an event during the week of the Republican National Convention on Monday about the cost of living crisis, sponsored by Save The Children. Next month Axios House will host events at the Democratic National Convention.

Unequivocal support for Vance as the VP resounded among lawmakers, many of whom noted Vance's personal story as the "American dream."

• National Republican Senatorial Committee Chairman and Montana Sen. Steve Daines, said Vance will be able to uniquely appeal to "lunchbucket Democrats" and will be able to help Republicans in down-ballot Senate races.
• Indiana Rep. Jim Banks said, "President Trump is the leader of the Republican party and the 'America First' movement. J.D. Vance is the next generation of it."

Separately, Alabama freshman Sen. Katie Britt called the GOP the party of hardworking Americans and families while addressing the high cost of childcare.

• "I remember when my husband and I were looking to send our kids to daycare. I mean, it felt like we needed to take out a second mortgage. I'm not kidding."
• "If entering the workforce or re-emerging into it– if an impediment to that is that you cannot afford childcare, then we as a nation have got to figure that out and do better."

As more information comes out about the attempted assassination of Trump, Daines told Axios' Stef Kight that this is a moment to "take the temperature down" when it comes to political divisiveness.

• "Hateful rhetoric…is not a one-party problem, this extends across both parties."
• "I think the American people are yearning for more of a policy debate versus a personality kind of contest."
• Meanwhile, Banks told Axios' Sophia Cai how Trump "won't back down, he won't stop doing whatever it takes to win," and pointed to the moment on Saturday where Trump raised his fist in the air right after being shot.

In other news, Daines also said there needs to be more of a conversation about ​​Trump's plan for aggressive tariffs on China.

• He said that he'd be "more inclined to do targeted type tariffs…versus something that's just universal" and that "unilateral" tariffs are "something you want to be thoughtful about."
• Trump's tariff plans could increase the cost of living for middle-income households by $1,700 per year, according to Peterson Institute for International Economics.

Content from sponsored segment below:

In a View From the Top conversation, Save the Children Action Network founder and special advisor to the Save the Children president, Mark Shriver, discussed their new polling which shows that the cost of living challenge is a priority for many voters no matter what party they're tied to.

• "These issues matter to people, to working families. They matter to Republicans and Democrats and independents. Yet the political leadership does not make this a priority. That's the thing that's most surprising to me."
• "It's not just urban settings– it's rural America, very strong support in rural America, in urban settings, and in suburban areas, but we have not figured out how to get that message out and to find enough political leadership on the federal level that will push these issues."

A whopping 65% of Democrats believe President Biden should withdraw from the 2024 presidential race and let the party pick a different nominee, according to an AP-NORC poll out Wednesday.

Why it matters: The findings add more evidence to the damage done by Biden's disastrous debate performance last month, which highlighted longstanding concerns about his age and fitness for office.

Former President Trump's selection of J.D. Vance as his vice presidential nominee elevates a young senator whose economic views are significantly at odds with conservative intellectual tradition.

Why it matters: If the Trump-Vance ticket prevails in November, Vance will not only have a seat at the table in shaping policy over the next four years but will be a favorite to be the Republican standard-bearer in 2028, raising the possibility of a lasting shift in the party's economic agenda.

House Democrats are calling off their plans to send a letter to the Democratic National Committee opposing plans to hold an early virtual roll call vote to renominate President Biden, Axios has learned.

Why it matters: It puts to rest a potential headache for the president as he tries to reassure Democratic allies about his ability to defeat former President Trump.

Peter Navarro, the ex-adviser to former President Trump, was released from federal prison on Wednesday after serving a four-month sentence, the Federal Bureau of Prisons said.

Why it matters: Navarro was the first high-ranking Trump official to serve prison time over actions related to the Jan. 6 Capitol riot. His release comes during the Republican National Convention, where he's expected to speak.

A Trump-owned company is selling limited-edition sneakers depicting former President Trump with blood on his cheek and his hand raised in a fist for $299 a pair.

Why it matters: It's the latest indication that pro-Trump vendors are capitalizing off iconic images of the Republican presidential nominee in the aftermath of Saturday's assassination attempt on him as they push for his election.

The assassination attempt on former President Trump at his Pennsylvania rally ahead of the Republican National Convention has left the U.S. reeling.

The big picture: The FBI is investigating last Saturday's shooting in Butler, Pennsylvania, that killed at least one person and critically wounded two others as a potential act of domestic terrorism.

Michael Tubbs, the former mayor of Stockton, Calif. who became a hero to progressives, is seeking a political return years after pushing guaranteed income during the presidency of former President Trump and losing his reelection bid.

The big picture: Tubbs tells Axios he is running for lieutenant governor in California and will make fighting poverty the cornerstone of his election in 2026.

MILWAUKEE — Inside the convention center, the GOP's forward-looking signage is impossible to miss:

• Make America Wealthy Once Again. Make America Safe Once Again. Make America Strong Once Again. And Make America Great Once Again.

Why it matters: Taking a lesson from their disappointing 2022 midterms, top Republicans are intent on running a campaign centered on this election, not the last one. But the ghosts of 2020 — and of Jan. 6 — are everywhere.

The theme of the night was "Make America Safe Again," a focus on crime and border security. But Tuesday's session at the Republican National Convention might as well have been called "Trump Rivals' Night."

The big picture: The list of headline speakers — led by Nikki Haley, a last-minute addition — was loaded with Republicans whose presidential ambitions were stifled by Donald Trump during his march to the top of the GOP.

Since his disastrous debate last month, President Biden has embraced a laundry list of left-wing policy proposals, strong-armed the party's nomination process and still tried to limit spontaneous, unscripted moments.

• It's saved his candidacy — for now.

Guo Wengui, a self-exiled Chinese billionaire with links to Trump allies, was convicted of racketeering conspiracy and fraud charges in U.S. federal court in New York on Tuesday.

The big picture: Also known as Ho Wan Kwok, Miles Guo and Miles Kwok, he rose to prominence in 2020 when he and ex-Trump adviser Steve Bannon announced plans to overthrow China's government.

Nikki Haley formally endorsed former President Trump during the second night of the Republican National Convention, telling GOP voters that "for the sake of our nation, we have to go with Donald Trump."

Why it matters: The former U.N. ambassador invoked a message of party unity just days after Trump — who she sparred with aggressively on the campaign trail — survived an attempted assassination at his rally in Pennsylvania.

Some four in every five voters feel the U.S. is "spiraling" out of control after the attempted assassination of former President Trump, per a new poll of 1,202 U.S. adults.

The big picture: 86% of those surveyed in the Reuters-Ipsos poll that was published Tuesday agreed that "acts of violence" were "throwing this country into chaos" during a turbulent election year.

Jack Black announced Tuesday that Tenacious D, the actor and musician's comedy-rock band, would be ending its world tour after his bandmate joked on stage about the assassination attempt of former President Trump.

The big picture: Tenacious D's Kyle Gass' quip about Saturday's shooting at a Butler, Pennsylvania, Trump rally that left the Republican nominee bloodied and one rally-goer dead was swiftly condemned online, including by his bandmate and decades-long friend.

Donald Trump is well aware of CEOs' desire to back whoever's likely to win the presidential election — which, right now, means himself.

Driving the news: In a big new interview with Bloomberg Businessweek, Trump declared that "Whoever's leading gets all the support they want. I could have the personality of a shrimp, and everybody would come."