: What to Know in Washington

Democrats say there’s something for everyone to like about the Minnesota governor bringing Democratic dad energy to the top of the presidential ticket, and his voting record agrees. But first, you should know:

• Joe Biden passed the torch to Kamala Harris during the first night of Democrats’ convention in Chicago.
• Donald Trump said he should be able to share his views on interest-rate policy, and already did with Jerome Powell.
• Former New York Republican Rep. George Santos pleaded guilty to fraud and misusing campaign funds on Monday.

Walz Brings Conservative Streak to DNC Stage

Tim Walz isn’t afraid to break from the pack, and the proof is in his House voting record — good news for Democrats hoping for pragmatism and balance more than hope and change.

Farm policy, border security, abortion, and defense departures are feature examples from a six-term tenure representing a largely rural, white southern Minnesota district, which narrowly backed Barack Obama’s presidential bids before shifting to Donald Trump in 2016.

Walz often ran to the right on hot-button issues like Obama’s environmental and military policies, according to a Bloomberg Government analysis. That’s juxtaposed against votes with Democrats on supporting the Affordable Care Act and the Dodd-Frank Act banking overhaul.

Some Democrats said his ability to straddle the ideological wings of the party will enhance its appeal on the campaign trail. “He knows how to tailor himself to different audiences based on his explicit record,” said Lauren Harper Pope, a co-founder of the center-left WelcomePAC.

Walz is a Rorschach test for Democrats — centrists and progressives alike see him as one of their own. Read More

BGOV at the DNC: BGOV’s Congress Tracker crew is in Chicago for the Democratic National Convention. Congress Tracker subscribers can stay on top of the event via a special edition Convention Tracker newsletter publishing all week. Read More

And send your tips to BGOV’s Maeve Sheehey ( msheehey@bloombergindustry.com ), Jonathan Tamari ( jtamari@bloombergindustry.com ), and Angela Greiling Keane ( agreilingkeane@bloombergindustry.com ).

Biden Cements Legacy and Passes the Torch

President Joe Biden delivered an emotional and bittersweet call for Democrats to rally behind Kamala Harris as his remarks, stretching late into the night, served as a coda to one of the most tumultuous stretches in presidential history.

Biden cast his decision to exit the race less than a month ago as the natural conclusion of a five-decade political career. He also denied harboring anger at party leaders who pressured him to drop out.

Democrats celebrated Biden’s presidency while passing the torch to a new generation.

Harris hailed Biden as an “incredible president” during a surprise appearance that launched the prime time set.

Hillary Clinton said “He brought dignity, decency and confidence back to the White House.

Rep. Alexandria Ocasio-Cortez (D-N.Y.) thanked Biden “for your leadership.” She also won one of the biggest applause lines of the night by saying Harris was working to bring a cease-fire in Gaza. Read More

Editor’s Picks

Obama, Clinton and… Deja Foxx? Influencers Pitch Harris at DNC

Chartreuse green. Coconut trees. Venn diagrams. They’re motifs of a “brat” summer that has memed Kamala Harris into a narrow but perceptible lead against the master of social media — Donald Trump.

Trump Defends Fed Criticism, Weighs Providing Aid to Home Buyers

Donald Trump downplayed criticism he’s undercut the US Federal Reserve’s autonomy, saying he should be able to freely share his views on interest-rate policy.

Harris Campaign Attracts Unprecedented Wave of Women’s Money

Kamala Harris’ rise to the top of the presidential ticket has unlocked a flood of money from an ascendant group of donors: women.

Musk’s Pro-Trump PAC Hires Help in GOP-Friendly North Carolina

Elon Musk’s pro-Trump super political action committee is hiring canvassers in North Carolina, a sign that the former president’s allies are concerned about his slipping support in one of the most Republican-friendly battleground states.

George Santos Pleads Guilty, Admits Misusing Campaign Funds

Former US Representative George Santos, who lied about working at Goldman Sachs Group Inc. and Citigroup Inc. while running for Congress, pleaded guilty to wire fraud and identity theft stemming from his campaign for Congress.

Ohio Redistricting Activists Sue Over GOP-Passed Ballot Proposal

A group proposing changes to Ohio’s redistricting process accused a Republican-controlled board on Monday of attempting to deceive voters when they approved a nearly 900-word description of the constitutional measure slated to appear on ballots in November.

What Else We’re Reading

Ten More States Join DOJ Suit vs Live Nation, Ticketmaster

Ten more states joined the Justice Department’s civil antitrust suit against Live Nation that alleges an “entrenched” illegal monopoly over the live events industry and seeks to force the company to sell off Ticketmaster.

Fed Confronts Up to a Million US Jobs Vanishing in Revision

US job growth in the year through March was likely far less robust than initially estimated, which risks fueling concerns that the Federal Reserve is falling further behind the curve to lower interest rates.

Central Bankers Diverge on Rates Path Ahead of Jackson Hole

Central bankers gathering this week for one of the world’s most prominent annual economic forums are set to find themselves more divided than perhaps any time since before the pandemic.

Alaska Air-Hawaiian Deal Closer as DOJ Ends Antitrust Review

Alaska Air Group Inc. and Hawaiian Holdings Inc. are one step closer to finalizing their $1.9 billion merger after the US Justice Department decided against challenging it.

To contact the reporter on this story: Giuseppe Macri in Washington at gmacri@bgov.com

To contact the editor responsible for this story: Katrice Eborn at keborn@bgov.com