Tom Cole Faces Well-Funded Challenge: What to Know in Washington

Oklahoma Pillar Challenged by Newcomer in Pricey Primary

Rep. Tom Cole, a mainstay in Oklahoma Republican politics and one of the most powerful lawmakers in Washington, faces a competitive primary challenge from a newcomer—both to politics and to Oklahoma—who says deep roots are overrated.

Paul Bondar, Cole’s opponent, is a wealthy former Illinois businessman who registered to vote in Texas as recently as March, loaned his campaign $5.1 million and has spent about $4.9 million. The main thrust of his campaign is that Cole is not really a conservative, and that neither personal connections nor long-term residency can trump ideology.

But Cole’s longstanding relationships in the district—combined with an endorsement from Donald Trump—give him the edge say those who have followed his ascent in politics. But he also represents an area where Republican politics are tinged with skepticism toward incumbents. Read More

Photographer: Ting Shen/Bloomberg

Rep. Tom Cole (R-Okla.)

BIDEN’S SCHEDULE

• 3:30 a.m. — President Joe Biden participates in a G-7 working session in Fasano, Italy.
• 4:45 a.m. — Biden holds a bilateral meeting with Italian Prime Minister Giorgia Meloni.
• 5:30 a.m. — He participates in more G-7 working sessions.
• 11:30 a.m. — Biden will participate in a group photo with G-7 leaders and Pope Francis.
• 12:15 p.m. — The president will hold a meeting with Pope Francis.
• 12:45 p.m. — Biden will participate in the G-7 closing ceremony before leaving Italy to head back to Joint Base Andrews.

CONGRESS’ AGENDA

• The House meets at 9 a.m. to finish its annual defense policy bill.
• Senators are out until Monday.
• For the full detailed agenda, read BGOV’s Congress Tracker.

Republicans Threaten to Delay Judicial Picks on Senate Floor

Six Republican senators threatened to delay consideration of pending nominees to be federal judges and US attorneys in retaliation for Trump’s prosecutions.

Sen. JD Vance (R-Ohio), one of the signatories, released a list of targets which includes 13 district court, three court of appeals, and six US attorney nominees. “The basic idea is that we throw up all procedural hurdles,” Vance said in a brief interview after a meeting with Trump yesterday.

Time is running short for Democrats to advance those nominations prior to the November election; the Senate won’t be in session for all of August and October. And Republicans also are threatening to thwart consideration of non-judicial nominees, including positions for the Treasury and State departments. Read More

Also Happening on the Hill

Crypto Titans’ $160 Million War Chest Threatens Senate Democrats

Crypto billionaires and their allies have amassed a $160 million war chest to protect their fortunes by bolstering US candidates who favor light-touch regulation of the embattled industry.

House Panel Acts to Block Pay Raise for Congress in Funding Bill

House lawmakers advanced a bill that would block an automatic congressional pay raise, moving to extend a 15-year pay freeze.

FBI Move, IRS Targeted by GOP Appropriators in Spending Bill

House appropriators advanced a spending measure that takes aim at the IRS, the District of Columbia’s policies on crime and guns, and the Biden administration’s plans to move the FBI headquarters.

House Panel Advances Bill to Ban Student Athlete Employee Status

Legislation that would bar student athletes from being considered employees by virtue of their participation in college sports advanced in a House committee.

Public Lands Director Faces Republican Ire Over Biden’s Agenda

Senators on Thursday pressed Bureau of Land Management Director Tracy Stone-Manning over her agency’s actions on renewable energy, conservation, and mining.

US Lawmakers Take On Uber, Lyft Rider Surveillance in New Bill

Two US senators are introducing a bill that would require ride-hailing companies including Uber Technologies Inc. and Lyft Inc. to notify passengers if their assigned drivers are using dashcams to record them.

Amtrak Releases Executive Pay, Bonuses Amid Republican Scrutiny

Amtrak publicly posted pay data for its leadership showing millions of dollars in pay and bonuses last year to its top executives after the rail corporation faced criticism and new legislation from Republican lawmakers this week.

ANALYSIS: Lawmakers Take Aim at PE Health-Care Binge

Bills pending at the state and federal level take aim at perceived abuses by private equity in its ownership of health-care facilities. Beyond these specific bills, the trend towards greater scrutiny has legs.

Trump, Biden Prep for Debate

Biden and Trump are already at work, conferring with close advisers before the debate of 2024 on June 27 in Atlanta.

Both candidates face the same problem: How to sway voters in a tight race where most Americans say they’ve already made up their minds. The debate offers a high-stakes opportunity to break through the deadlock, but with clear perils on a stage where one-liners or zingers may prove ineffective but where any gaffe or misstep threatens to be politically fatal.

Biden’s team has blocked off an extended stretch at Camp David starting Wednesday to work on his debate preparation. It’s unclear if the team will hold mock debates, as they did in 2020.

Trump, however, has always disdained formal preparation and mock debates, allies say, preferring to informally workshop answers and retorts with aides. Read More

More Politics & Probes

Hunter Biden Gun Conviction Law Has Divided US Appeals Courts

Hunter Biden may have a chance at appealing his recent gun conviction on Second Amendment grounds, as federal courts are divided on the legality of the statute he was charged with violating.

Biden Says He Wouldn’t Commute Hunter Biden’s Sentence

President Biden, when asked by reporters if he would commute a sentence of his son, Hunter Biden, after his conviction on gun charges, says “no.”

Trump Tells CEOs He Would Cut Corporate Tax Rate to 20%

Donald Trump promised to lower the corporate tax rate to 20%, further reducing the income levy on the largest US companies that he already slashed while president, according to people familiar with the remarks.

Trump Likes Tariffs as ‘Revenue Source,’ Wilbur Ross Says

Donald Trump’s proposals to increase tariffs on foreign goods are part of a strategy to raise revenue, his onetime Commerce secretary said, as the former president weighs new levies on US trading partners if he wins the November election.

Trump Says He’ll Restart Oil Drilling in Alaska Wildlife Refuge

Donald Trump told Senate Republicans Thursday he would restart oil drilling in Alaska’s Arctic National Wildlife Refuge, reversing a move by the Biden administration to cancel leases in the frozen wilderness.

Clarence Thomas Took More Trips on Harlan Crow’s Private Jet

US Supreme Court Justice Clarence Thomas failed to disclose at least three more private jet trips across the US paid for by GOP megadonor Harlan Crow, according to documents released by Senate Democrats.

What Else We’re Watching

Grant Writers Are in Demand as Cities Scramble for Federal Funds

It’s a big windfall of federal investment. Together, bills like the Inflation Reduction Act, the Bipartisan Infrastructure Law, and the CHIPS Act present a substantial shift in how the US government funds local economic development, clean energy and environmental justice efforts, potentially giving cities and towns a huge boost.

Biden Vows Allies Will Stand With Ukraine ‘Until They Prevail’

US President Joe Biden hailed a new security agreement, plans for $50 billion in Ukraine aid and expanded sanctions targeting Moscow as a clear signal to Russian President Vladimir Putin that the US and allies are not “backing down” from their support for Kyiv.

Biden Readies Protections for Some Undocumented Migrants

President Joe Biden is planning an executive action as soon as next week that would protect certain undocumented immigrants from deportation, according to people familiar with the matter.

Immigration Agency Head Touts Progress Tackling Massive Backlogs

US Citizenship and Immigration Services has made progress lowering visa processing times for work permits and other benefits despite record numbers of applications, agency Director Ur Jaddou told members of the American Immigration Lawyers Association.

Fed Diverges From Global Peers in New Era of Higher for Longer

The Federal Reserve’s move to signal fewer interest-rate cuts this year deepens its divergence from peers who have already begun to ease.

Yellen Says Big Chinese Banks Are Adhering to Russian Sanctions

US Treasury Secretary Janet Yellen said she was most concerned about smaller Chinese banks doing business with Russia, even as she didn’t rule out sanctioning a bigger lender if it engaged in “systematic violations” of sanctions against the Kremlin.

Republican Attorneys General Slam Grid Rule as Sidelining States

A group of 19 Republican attorneys general led by Texas are opposing the largest federal overhaul of regional electric transmission planning in a generation, arguing it tramples on a state’s ability to meaningfully weigh in on long-range power lines.

To contact the reporters on this story: Brandon Lee in Washington at blee@bgov.com; Jeannie Baumann in Washington at jbaumann@bloombergindustry.com

To contact the editors responsible for this story: Kayla Sharpe at ksharpe@bloombergindustry.com; Giuseppe Macri at gmacri@bgov.com