Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Rebecca Zisser/Axios

The Republican Party is suffering an identity crisis that poses acute short- and long-term risks: President Trump, with 38% approval in Gallup, is giving the party a constricted appeal, with the danger of continuing high-profile defections.

Why it matters: In a 50-50 nation, marginal defections can incapacitate a party.

  • The GOP, long synonymous with conservatism, is now effectively the Trump Party — in policy, branding and support.
  • That leaves some swaths of traditional conservatives without a major-party home, and endangers Republican electoral fortunes.
  • And two of the party's mega-donors renounced the GOP last week: hedge fund manager Seth Klarman, once Republicans' biggest donor in New England, and Les Wexner — the wealthiest GOP donor in Ohio, and founder, chairman and CEO of L Brands, which includes Victoria's Secret.

For now, this is a crisis of the intellectual and power elite: "Morning" Joe Scarborough; his frequent guest Steve Schmidt; N.Y. Times columnist Bret Stephens; WashPost columnists George Will, Michael Gerson, and Max Boot.

  • But it’s slowly spreading,
  • The danger for Republicans is that they get clobbered in November, and a trickle becomes a steady stream.

Sen. Ben Sasse of Nebraska, 46, a rising star in the party, continues to flirt with leaving the party — a small sign of a talent crisis that could lie ahead for the GOP.

  • Sasse recently fired off a quartet of tweets praising a devastating critique of the right's current straits: "America Desperately Needs a Healthy Conservatism," by Andrew Sullivan of New York Magazine.
  • "In today’s America, [traditional] conservatism is completely under siege," Sullivan writes. Trump "assaults the norms that conservatives revere, has contempt for existing institutions and sees the rule of law as a means to advance his own interests, rather than that of the society as a whole."

Gallup's most recent gauge of party identity has 28% of Americans considering themselves Republicans, 27% calling themselves Democrats and 43% identifying as independents.

  • It's that big middle group where you see the looming threat to the vitality of the GOP: Some Trump policies are so polarizing that independents are likely to be increasingly inaccessible to the Republican Party, giving Democrats a potentially overwhelming advantage in the pool of voters they can activate.

A former White House official told me: "Shifting demographics have been a problem for Republicans for a long time. Paradoxically, while Trump likely exacerbated that problem in the long term, he also postponed its consequences because he carved out a new path to 270, in large part thanks to his trade rhetoric."

  • "The problem post-Trump is that what he did is not replicable."

Be smart: High profile defections like the ones above won't change the electoral math of the heartland, where GOP presidencies are won. The danger is Trump's alienation of quiet conservatives: They won't make big announcements. They just won't show up.

  • And they could form the base for a new conservative party — run by someone like Sasse.
Not a valid email format.
Not a valid email format.
Server error. Please try a different email.
Not a valid email format.
Not a valid email format.
Server error. Please try a different email.
Not a valid email format.
Not a valid email format.
Server error. Please try a different email.
Not a valid email format.
Not a valid email format.
Server error. Please try a different email.
Not a valid email format.
Not a valid email format.
Server error. Please try a different email.

Go deeper

AT&T spins off WarnerMedia, forming new media behemoth with Discovery

Illustration: Annelise Capossela/Axios

AT&T and Discovery have agreed to create a joint venture that would house WarnerMedia’s premium entertainment, sports and news assets with Discovery's nonfiction and international entertainment and sports businesses, the companies announced Monday.

Why it matters: It's a major course correction by AT&T. The deal essentially confirms shareholder fears that the company's $85 billion merger with Time Warner three years ago was not fully baked.

48 mins ago - Health

Child tax credits from COVID relief plan to begin arriving July 15

Biden arrives in the Rose Garden on May 13. Photo: Alex Wong/Getty Images

The expanded monthly child tax credit introduced in President Biden's $1.9 trillion COVID relief package will begin arriving in parents' bank accounts on July 15, the White House said Monday.

Why it matters: The credit, part of the administration's plan to transform the country's social safety net in the wake of the pandemic, would provide families with $300 monthly cash payments per child up to age 5 and $250 for children ages 6–17.

1 hour ago - Health

Sanofi, GSK COVID vaccine shows strong immune response in phase 2 trials

Photo: STR/NurPhoto via Getty Images

Sanofi and GSK announced this morning their COVID-19 vaccine candidate demonstrated a strong immune response in adults in a phase 2 clinical trial.

Why it matters: Sanofi and GSK say their recombinant protein-based vaccine candidate could ultimately serve as a universal COVID-19 vaccine booster, able to boost immunity regardless of the vaccination first received.