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Photo: Saul Loeb/AFP via Getty Images

President Trump attacked New York City Mayor Bill de Blasio on Wednesday for reallocating $1 billion from the NYPD's budget and ordering a large Black Lives Matter mural to be painted on Fifth Avenue, condemning it in a tweet as a "symbol of hate."

The big picture: It's yet another example of the president digging in on racial issues that explicitly appeal to his base, even as his poll numbers continue to spiral in the wrong direction months ahead of the election.

  • The tweets came hours after Trump threatened to veto the annual National Defense Authorization Act over a proposed amendment that would rename military bases named after Confederate leaders, despite bipartisan support in Congress.
  • Trump was also forced to take down a retweet of a video on Sunday that showed an elderly supporter yelling "white power" at protesters.

What he's tweeting:

"NYC is cutting Police $'s by ONE BILLION DOLLARS, and yet the @NYCMayor is going to paint a big, expensive, yellow Black Lives Matter sign on Fifth Avenue, denigrating this luxury Avenue. This will further antagonize New York's Finest, who LOVE New York & vividly remember the horrible BLM chant, 'Pigs In A Blanket, Fry 'Em Like Bacon'. Maybe our GREAT Police, who have been neutralized and scorned by a mayor who hates & disrespects them, won't let this symbol of hate be affixed to New York's greatest street. Spend this money fighting crime instead!"

Go deeper: Mike Pence explains why he refuses to say "Black lives matter"

Go deeper

NYPD adds new guidelines for disciplining officers

Photo: Sergi Reboredo/VW PICS/Universal Images Group via Getty Images

The New York City Police Department announced new guidelines for disciplining officers that offer a more formal structure than what was previously in place.

Why it matters: NYPD is the largest police department in the country, and the change comes as protests around the country continue over racial injustice and police brutality. The new policy guidelines come nearly a year after the NYPD fired a then-Officer Daniel Pantaleo for using a deadly chokehold on Eric Garner in 2014.

  • The officer's union argued there was very little precedent within NYPD's internal disciplinary system, per AP.

GOP implosion: Trump threats, payback

Spotted last week on a work van in Evansville, Ind. Photo: Sam Owens/The Evansville Courier & Press via Reuters

The GOP is getting torn apart by a spreading revolt against party leaders for failing to stand up for former President Trump and punish his critics.

Why it matters: Republican leaders suffered a nightmarish two months in Washington. Outside the nation’s capital, it's even worse.

Erica Pandey, author of @Work
3 hours ago - Economy & Business

The limits of Biden's plan to cancel student debt

Data: New York Fed Consumer Credit Panel/Equifax; Chart: Axios Visuals

There’s a growing consensus among Americans who want President Biden to cancel student debt — but addressing the ballooning debt burden is much more complicated than it seems.

Why it matters: Student debt is stopping millions of Americans from buying homes, buying cars and starting families. And the crisis is rapidly getting worse.