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Photo: Joshua Lott/AFP via Getty Images

The Supreme Court on Monday granted an emergency stay blocking Congress from enforcing a subpoena for President Trump's financial records, which a lower court had upheld in October.

Why it matters: The court didn't explain its reasoning, but the decision makes it likely that it will take up the case. For now, Trump's longtime accounting firm Mazars USA will not be forced to turn over Trump's tax returns to House Democrats investigating the president.

  • The justices are giving Trump's lawyers until Dec. 5 to formally file its appeal of the lower court ruling.
  • Trump is also seeking to have the Supreme Court block a subpoena from the Manhattan district attorney's office, which is investigating hush-money payments that the Trump Organization made to Stormy Daniels in 2016.

Between the lines: A Supreme Court ruling on the case would likely not come until mid-January, AP notes. If House Democrats are planning to vote to impeach Trump by the end of the year, as they have signaled, the tax return investigation will likely not play a role.

This story is breaking news. Please check back for updates.

Go deeper

"Great nations don't ignore their most painful moments": Biden signs bill making Juneteenth a federal holiday

Biden speaking before the signing on June 17. Photo: Oliver Contreras/Sipa/Bloomberg via Getty Images

President Joe Biden on Thursday signed legislation making Juneteenth a federal holiday, just two days before the occasion.

Why it matters: The holiday, which will be known as Juneteenth National Independence Day, is now the 11th annual federal holiday and the first one established since the creation of Martin Luther King Jr. Day in 1983.

Dan Primack, author of Pro Rata
33 mins ago - Podcasts

House antitrust chair discusses the bills to bust up Big Tech

House lawmakers last week introduced a series of five bipartisan bills designed to curb the power of Big Tech, targeting Apple, Amazon, Facebook and Google in all but name.

Axios Re:Cap speaks with Rep. David Cicilline (D-R.I.), chair of the House antitrust committee and a sponsor on most of the bills, to learn how he plans to get these measures over the finish line. The congressman from Rhode Island also faces a slate of other priorities and in the wake of a spending package to bolster the U.S. tech sector’s ability to compete with China.

Why online games have a shorter life span

"Grand Theft Auto Online" will join a growing list of obsolete games on older platforms this December when Rockstar Game shuts down the PlayStation 3 and Xbox 360 versions of the game.

Why it matters: Video game preservation is one of the biggest challenges when it comes to video games, physical or otherwise.

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