CFPB watch: Elizabeth WarrenElizabeth Ann WarrenTrump says his Doral resort will no longer host G-7 after backlash Ocasio-Cortez: Sanders' heart attack was a 'gut check' moment Ocasio-Cortez tweets endorsement of Sanders MORE may be on her way back to Harvard University, but that won't stop Republican scrutiny of the new Consumer Financial Protection Bureau (CFPB). This time, a House Small Business subcommittee is getting in on the action, discussing the new bureau’s impact on smaller companies with officials from the CFPB, U.S. Chamber of Commerce and other experts and academics.

According to advance testimony released by the CFPB, the bureau will maintain it keeps a light touch on the small business sector, noting that it generally does not have jurisdiction in that area. In fact, the testimony says, the bureau’s primary responsibility in the small business arena is to ensure that companies don't discriminate in their lending. Beyond that, the bureau hopes to help small businesses by ensuring more accurate consumer data. We'll see if that wins over any skeptical Republicans.

Safety net: A House Financial Services subcommittee will look into an insurance industry tomorrow that, led by AIG, found itself swept into the financial crisis a few years back. Now, a veritable slew of insurance experts will be on hand to discuss regulation of the industry, and its impact on the broader economy.

Wall Street pay: Liberal and labor groups – the AFL-CIO and Americans for Financial Reform, among others – are set to gather tomorrow to discuss how the big banks on Wall Street can do their part to help the rest of the economy.

Carding the preparer: A House Ways and Means subcommittee is slated to examine a new push by the IRS to register tax preparers and ensure they have proper training, with officials from the agency, Government Accountability Office and private sector all scheduled to testify.

The IRS said this month that it was reaching out to tens of thousands of preparers who did not have valid ID numbers the most recent tax season, while a federal audit this year prodded the agency to move more quickly to implement its program.

The breakfast and lunch circuit:

-- Rep. Michele BachmannMichele Marie BachmannKlobuchar urges CNN town hall audience: 'That's when you guys are supposed to cheer, OK?' Michele Bachmann praises Trump: Americans will 'never see a more godly, biblical president' Will Biden lead a 'return to normalcy' in 2020? MORE (R-Minn.), the presidential candidate with the unflinching stance on the debt ceiling, is set to address a National Press Club luncheon.

-- Alice Rivlin, the former Congressional Budget Office chief who is a big fan of the grand budget bargain, is set to talk deficit reduction as part of The Atlantic’s Women of Washington series.

-- Sens. Ron WydenRonald (Ron) Lee WydenUS ban on China tech giant faces uncertainty a month out Hillicon Valley: GOP lawmakers offer election security measure | FTC Dem worries government is 'captured' by Big Tech | Lawmakers condemn Apple over Hong Kong censorship Lawmakers condemn Apple, Activision Blizzard over censorship of Hong Kong protesters MORE (D-Ore.) and Dan CoatsDaniel (Dan) Ray Coats281 lobbyists have worked in Trump administration: report Former intelligence chief Coats rejoins law firm Remembering leaders who put country above party MORE (R-Ind.) are slated to discuss their bipartisan tax reform bill at a Ripon Society breakfast.

-- And the National Economists Club takes a look at tax expenditures, while the Tax Policy Center drills down on the mortgage interest deduction.

Economic indicators:

-- The Labor Department will release first-time jobless claims on Thursday, following another disappointing report last week.

Jobless claims rose by 10,000 to 418,000, as employers are showing a reluctance to hire while the economic recovery stalls and concerns grow over the debt limit impasse.

-- The National Association of Realtors will announce pending home sales for June, as the housing market remains the nation's weakest economic sector.

Pending homes sales, a forward-looking indicator based on contract signings, rose 8.2 percent to 88.8 in May. The data reflect contracts but not closings, which normally occur with a lag time of one or two months.


Where’s TAA?: Rep. Dave Camp (R-Mich.), the House Ways and Means Committee chairman, says congressional leaders have found a way to pass the three stalled trade agreements and move the Trade Adjustment Assistance program separately.

Sen. Max BaucusMax Sieben BaucusBottom line Overnight Defense: McCain honored in Capitol ceremony | Mattis extends border deployment | Trump to embark on four-country trip after midterms Congress gives McCain the highest honor MORE (D-Mont.), the Senate Finance Committee chairman, says not so fast.

What the two men agree on: Action on the trade deals with South Korea, Panama and Colombia will have to be punted until after the August recess.

Speaking of trade…: Mitt Romney, the former Massachusetts governor and current Republican presidential candidate, said Wednesday that President Obama had let China take the U.S. to the woodshed with its currency manipulation and intellectual property theft.

The Wall Street Journal also reports that Romney decried protectionism and called for fairer trade between the two countries.

Sticktuitiveness: Give House Democrats this – they’re persistent. Rep. Peter WelchPeter Francis WelchDemocrats see John Bolton as potential star witness Democrats plow ahead as Trump seeks to hobble impeachment effort Democrats claim new momentum from intelligence watchdog testimony MORE (D-Vt.), who has been calling for a clean debt-ceiling increase for months, has introduced a new bill to do just that – and garnered more than 100 Democratic co-sponsors.


On the Money’s Wednesday:

-- Treasury: Really, the date’s still Aug. 2.

-- Orrin HatchOrrin Grant HatchTrump holds more Medal of Freedom ceremonies than predecessors but awards fewer medals Trump to award Medal of Freedom to former Attorney General Edwin Meese Trump to award racing legend Roger Penske with Presidential Medal of Freedom MORE: Everybody sure?

-- S&P: Default will be avoided, but downgrade’s still on the table.

-- Fitch: U.S. still the gold standard, even if downgrade happens.

-- The Dow drops almost 200 points.

-- Federal Reserve: Economy’s growing, if not as swiftly as before.

-- Business groups continue to coalesce behind BoehnerJohn Andrew BoehnerIs Congress retrievable? Boehner reveals portrait done by George W. Bush Meadows to be replaced by Biggs as Freedom Caucus leader MORE plan.

-- House Dems take another crack at tax havens.

-- And mortgage applications drop

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