Axios

As it braces for the fight of its life, the private equity industry is launching a 7-figure ad campaign to make its case for how it boosts the economy.

Why it matters: President Trump is taking aim at the tax treatment of "carried interest," and the private equity industry has the resources and self-interest to preserve the status quo.

The Trump administration's Signal fiasco has given Democrats an unexpected shot to go on offense, with a pair of hearings in the next two days.

• "Well, somebody f**ked up," Sen. Tim Sheehy (R-Mont.), a former Navy SEAL, told reporters Monday.

Why it matters: Grilling Trump officials on whether their secret Signal chat violated the Espionage Act won't end the Democrats' bitter infighting, but it's a heckuva distraction.

The FBI has created a task force dedicated to investigating Tesla attacks, FBI Director Kash Patel confirmed on X on Monday.

Why it matters: It's the latest step by the Trump administration to use the full weight of the government to both promote and defend Elon Musk's car company.

President Trump on Monday appointed Alina Habba to serve as interim U.S. attorney for the District of New Jersey — making her the latest of his personal lawyers to gain a government position.

Why it matters: The president has made clear his desire to have loyalists in top law enforcement positions to carry out his agenda, which could include investigating adversaries.

Members of Congress in both parties exploded in anger Monday after the editor-in-chief of The Atlantic revealed he was inadvertently included in a highly sensitive Trump administration Signal chat on airstrikes in Yemen.

Why it matters: Some Democrats are already calling for an investigation and potential repercussions against the national security officials involved in the lapse.

Senate Minority Leader Chuck Schumer (D-N.Y.) will summon his caucus this week for a crash course on how to oppose Republican budget reconciliation plans, Axios has learned.

Why it matters: Republicans don't need Democratic votes to pass President Trump's proposals to cut taxes and alter government safety net programs. It'll be up to Democrats to find a way to make the GOP's efforts hurt politically.

President Trump's national security adviser accidentally invited the editor-in-chief of The Atlantic to a group text in which top officials debated highly sensitive plans for bombing Yemen, the magazine reported Monday.

Why it matters: The extraordinary breach exposed classified information and private deliberations among the highest-ranking officials in the U.S. government, and raised serious questions about the lax handling of America's secrets by Trump's Cabinet.

A 26-year-old progressive influencer on Monday launched a bid for the House seat of Rep. Jan Schakowsky (D-Ill.), a decades-long veteran of Congress.

Why it matters: The run comes as liberal grassroots activists are erupting in fury at congressional Democrats, arguing the party isn't taking enough of an aggressive posture to counter President Trump.

Senior Trump political adviser Chris LaCivita has filed a defamation suit against The Daily Beast, alleging that the outlet published "malicious" and "damag[ing] reporting about him during the 2024 campaign "with reckless disregard for the truth."

Why it matters: The lawsuit is the latest example of those in President Trump's orbit aggressively targeting news organizations they regard as unfair and adversarial.

The alleged Venezuelan gang members deported by the Trump administration earlier this month are likely to suffer "significant harm" in El Salvador, a federal judge asserted Monday.

Why it matters: The Trump administration's decision to deport the alleged gang members in defiance of a court order has set up a high-stakes legal battle that could test the limits of President Trump's power.

The Trump administration lodged new accusations over the weekend against detained Columbia University alumnus Mahmoud Khalil in an effort to justify its deportation case against him.

The big picture: The arrest of Khalil, a leader in Columbia's pro-Palestinian protests and a U.S. green card holder from Syria, set the stage for a historic test of immigrants' speech rights under the Trump administration.

President Trump on Monday appointed his presidential counselor Alina Habba to serve as interim U.S. attorney for the District of New Jersey.

Why it matters: Habba, who served as Trump's personal lawyer before joining his administration, is succeeding John Giordano in the position. Giordano was sworn in for the job earlier this month.

The Supreme Court on Monday declined to hear a case seeking to challenge the 1964 precedent that protects news outlets from litigation for publishing critical information about public figures.

Why it matters: Conservative justices have called for the Supreme Court to revisit New York Times v. Sullivan, which determined that a plaintiff must demonstrate "actual malice" in defamation lawsuits against the press.

The Trump administration can't deport alleged Venezuelan gang members after a federal judge Monday rejected a request to lift the temporary halt on the practice.

Why it matters: The legal battle being waged over the high-stakes immigration case promises to test the limits of Trump's deportation powers and the power of the executive branch itself.

Dan Brouillette, who was secretary of Energy in President Trump's first term, is joining the strategic advisory firm Torridon Group as co-chair — and is joining the related law firm, Torridon Law, as senior adviser.

Why it matters: The Torridon firms — which between them include such powerhouse partners as William Barr, Ted Ullyot, Pat Cipollone, Paul Cappuccio and Mike Kelly — are flush with the kind of experience and savvy that's useful in navigating Washington these days.

• The firms have seen an influx of business during the new administration. Fred Fielding and David Urban are of counsel.

Former Utah Rep. Mia Love died Sunday after a battle with glioblastoma, an aggressive brain cancer, her family announced on X. Love was 49.

The White House plans to spare specific sectors from wide-ranging tariffs expected early next month, Bloomberg and the Wall Street Journal reported on Monday.

Why it matters: Stocks jumped in early trading after reports that suggested the much-hyped "Liberation Day" might not be as harsh or broad as previously expected.

The White House is seeking corporate sponsors for this year's Easter egg roll — a 147-year-old tradition, CNN first reported.

Why it matters: Allowing businesses to use the White House to advertise their brands could upend long-standing precedents and regulations around the use of public office for private gain.

Greenland's prime minister slammed an upcoming trip to the island by Second Lady Usha Vance and other U.S. officials as "aggressive" and a clear show of power.

Why it matters: President Trump's desire to take over the island has set U.S. allies on edge and drawn repeated rebukes from Greenlandic and Danish officials.

A government watchdog has a new warning about DOGE personnel cuts at a key regulatory agency: Fewer workers could jeopardize bank oversight.

Why it matters: It's an example of how DOGE cost-cutting could have consequences beyond the targeted agency. In this case, the effects could ripple across the financial system.

Top Democrats tell us their party is in its deepest hole in nearly 50 years — and they fear things could actually get worse:

• The party has its lowest favorability ever.
• No popular national leader to help improve it.
• Insufficient numbers to stop most legislation in Congress.

The Trump administration's drive to eradicate a small amount of fraud in Social Security is risking the agency's longstanding mission to serve the public, current and former Social Security Administration officials tell Axios.

Why it matters: The DOGE-led effort threatens a system that provides critical benefits to more than 74 million Americans. It's also starting to ignite some political blowback for the Trump administration.