Breaking: The US Supreme Court tossed out President Joe Biden’s plan to slash the student debt of more than 40 million people, rejecting one of his signature initiatives as exceeding his power, Greg Stohr reports.

ICYMI: Watch Aris Folley on C-SPAN Washington Journal discussing Congress' week ahead:

The banking industry ramped up lobbying during the second quarter as a financial contagion infected four firms and increased the threat of additional regulation from Washington, Laura Davison Bill Allison report. bloomberg.com/news/articles/…

The Senate today voted to overturn a Consumer Financial Protection Bureau rule requiring lenders to collect demographic data from small businesses when they apply for credit. President Biden threatened to veto it if it comes to his desk. via Karl Evers-Hillstrom news.bgov.com/bloomberg-gove…

K Street is rooting for Speaker Pro Tempore Patrick McHenry in the protracted speaker race, per Kate Ackley Zeller. McHenry isn’t officially running, but the Financial Services Committee chair has strong ties to lobbyists & their clients incl. Wall Street giants. news.bgov.com/bloomberg-gove…

NEW: Issue One review of IRS Form 990s reveal that PhRMA has contributed $34.5 million to Republican-aligned #darkmoney group American Action Network since 2010, including a record $7.5 million in 2022 issueone.org/press/phrma-co…

🚨🚨🚨Rep. Patrick MCHENRY (R-N.C.), chair of Financial Servcices, is expected to announce he won’t seek re-election today, though he plans to finish out the rest of his term, per multiple sources.

These things move so fast, it’s crazy that I’m already on the road with my new family. But it wouldn’t be right to leave without saying a little something just to let y’all know that the love is mutual. Thank you, New York. The Players’ Tribune theplayerstribune.com/posts/immanuel…

New from federal lobbying disclosures: -Meta and Amazon spent the most among companies in 2023 -TikTok parent ByteDance spent record $8.7 million -Top tech issues include AI, children's online privacy from Kate Ackley Zeller: news.bgov.com/bloomberg-gove…

The CEOS of Discord Meta Snap Inc. TikTok US X will testify before Congress tomorrow. Last year, these 5 social media companies combined to spend $30 MILLION on lobbying, per Issue One review of OpenSecrets.org data & federal filings show issueone.org/articles/socia…

Live Nation Entertainment more than doubled its federal lobbying spending to $2.4 million in 2023 from $1.1 million in 2022 as it navigated legislative and regulatory efforts to break up its power in the live entertainment and ticketing industry. thehill.com/business/44318…

We're hiring at Bloomberg Government for an agriculture reporter to cover the farm bill and beyond. It's a Capitol Hill-focused beat where you can dive into policy and the politics behind it. #journalismjobs bloomberg.wd1.myworkdayjobs.com/en-US/Bloomber…

A billionaire donor wired the U.S. Chamber of Commerce $800k days after it endorsed his son, then-Rep. Peter Meijer, ahead of a contentious 2022 GOP primary, according to previously unreported emails obtained by The Hill 🧵/1

Bloomberg Law's Kimberly Robinson, Jo-el J. Meyer, and Karl Evers-Hillstrom will discuss the future of the administrative state in a webinar on July 8 at 1 p.m. ET. Register now: blawgo.com/hA1zxtE

Bloomberg Law's Kimberly Robinson, Jo-el J. Meyer, and Karl Evers-Hillstrom will discuss the future of the administrative state in a webinar on July 8 at 1 p.m. ET. Register now: blawgo.com/i1Kaa5J

ICYMI: The Federal Election Commission gave a green light to the NRSC’s envelope-pushing use of joint fundraising committees to take advantage of TV ad discounts. via Karl Evers-Hillstrom news.bgov.com/ballots-and-bo…

NEW: An initiative called Progress 2028 appears to be Kamala Harris' liberal counter to the conservative Heritage Foundation’s Project 2025. But our investigation reveals Project 2028 is actually run by a dark money network boosting Donald Trump. opensecrets.org/news/2024/10/p…

JUST IN: A radical and potentially momentous ruling from the 5th Circuit Court of Appeals saying it is illegal to count mail-in ballots received after election day documentcloud.org/documents/2525…

🚨 🚨BREAKING NEWS FROM Punchbowl News : Rep. Matt Gaetz's (R-Fla.) resignation from Congress came two days before the House Ethics Committee was set to vote on releasing a “highly damaging” report outlining its investigation into the Republican, according to multiple sources

48 House Republicans have never supported a debt limit bill that became law, plus 33 new members who have never voted on one at all. Ken Tran and I ran the numbers on the tall task of passing a debt limit bill without Democrats' support: news.bgov.com/bloomberg-gove…