• White House negotiators and House Speaker Kevin McCarthy’s (R-Calif.) emissaries hope to hatch a deal to raise the debt ceiling as soon as this weekend, but disagreements remain over Republicans’ push to reverse federal spending to fiscal year 2022 levels and cap annual increases in most areas at just 1% over the next 10 years. Negotiators are eyeing budget caps that would extend for several years as a potential alternative to the decadelong limits. (The Associated Press) 
• Sen. Tim Scott (R-S.C.) plans to formally announce his 2024 presidential campaign in his hometown of North Charleston, S.C., on Monday and then hit the trail in Iowa and New Hampshire — states where his campaign has reportedly reserved $6 million in advertisements across television and radio. He will enter the race with a substantial campaign war chest of $22 million cash on hand. (The New York Times) 
  • Scott has just 1% support among potential GOP primary voters and his name recognition has room to grow: 32% have never heard of him, according to our 2024 GOP Primary Tracker. 
• Michael Delaney formally withdrew from consideration to serve on the 1st U.S. Circuit Court of Appeals amid bipartisan criticism of his handling of a years-old sexual assault case involving a New Hampshire school. His withdrawal is a rare defeat for President Joe Biden on judicial nominees, 129 of which have been confirmed by the Senate so far. (NBC News) 

Happening today (all in ET): 

• Federal Reserve chair speaks at a monetary policy conference. 

In Red States, ‘Gun Reform’ Means Making It Easier To Buy And Carry Guns

FiveThirtyEight

Biden, Japan’s Kishida meet ahead of G-7 summit, vowing to ‘stand strong’ against global threats

Josh Boak, The Associated Press
President Joe Biden and Japanese Prime Minister Fumio Kishida met Thursday aiming to showcase the strength of their alliance ahead of a Group of Seven summit where leading democracies will tackle the challenges of Russia’s war in Ukraine, North Korea’s ballistic nuclear threats and an increasingly forceful China.

U.S. to Speed Sales of Military Gear to Foreign Allies, Partners

Gordon Lubold, The Wall Street Journal

The State Department is taking a number of new actions intended to speed sales and delivery of arms to foreign allies and partners as part of a broader government effort to make the system more responsive and effective, department officials said.

Biden invites Papua New Guinea leader to D.C. after canceling Pacific island visit

Megan Lebowitz, NBC News

President Joe Biden on Thursday invited Papua New Guinea Prime Minister James Marape to Washington later this year for a summit with Pacific island nations after he canceled a scheduled visit to the country because of the debt limit stalemate in Congress, according to the White House.

Feinstein Suffered More Complications From Illness Than Were Publicly Disclosed

Annie Karni and Carl Hulse, The New York Times

When she arrived at the Capitol last week after a more than two-month absence recovering from shingles, Senator Dianne Feinstein, Democrat of California, 89, appeared shockingly diminished.

Democrats warn Biden against toughening aid for the poor

Richard Cowan and Leah Douglas, Reuters

Democrats in the U.S. Congress expressed frustration with President Joe Biden’s willingness to engage with Republicans demanding tougher work requirements for food aid recipients as part of any deal to raise the nation’s debt ceiling.

Conservatives push for border bill to be added to debt ceiling negotiations

Katherine Doyle et al., NBC News

With the lifting of Title 42, House conservatives are making the case that the situation at the border is an emergency and mounting an eleventh-hour push to include the recently passed Republican border bill in debt ceiling talks.

Lawmakers Consider More Security for Offices Following Connolly Staff Attack

Stephanie Lai, The New York Times

The attack on two congressional aides this week at the Fairfax, Va., office of Representative Gerald E. Connolly has prompted members of Congress and their staffs to consider additional safety measures in their workplaces outside of Washington.

New House bill would block pay for members of Congress if the U.S. defaults

Sahil Kapur, NBC News

A bipartisan bill set to be unveiled Thursday by Reps. Abigail Spanberger, D-Va., and Brian Fitzpatrick, R-Pa., would block members of Congress from getting paid if the U.S. enters debt default or if the government shuts down.

Taking on the F.B.I., Trump Allies Single Out a Former Agent

Adam Goldman, The New York Times

Over 25 years as an F.B.I. agent, Timothy R. Thibault reeled in big names while investigating public corruption, sending two Democratic congressmen to prison and overseeing sensitive inquiries into the Clinton Foundation and the former governor of Virginia, Terry McAuliffe, another Democrat.

Rep. Marjorie Taylor Greene introduces articles of impeachment against Biden

Rebecca Shabad, NBC News

Rep. Marjorie Taylor Greene, R-Ga., on Thursday introduced articles of impeachment against President Joe Biden over his handling of migrant crossings along the U.S.-Mexico border.

Top Senate Dem: Congress ‘must move quickly’ on artificial intelligence legislation

Mary Clare Jalonick, The Associated Press

Senate Majority Leader Chuck Schumer says Congress “must move quickly” to regulate artificial intelligence and has convened a bipartisan group of senators to work on legislation.

Supreme Court rules for Google, Twitter on terror-related content

Robert Barnes and Cat Zakrzewski, The Washington Post

The Supreme Court ruled for Google and Twitter in a pair of closely watched liability cases Thursday, saying families of terrorism victims had not shown the companies helped foster attacks on their loved ones.

Antiabortion Group Used Cellphone Data to Target Ads to Planned Parenthood Visitors

Byron Tau and Patience Haggin, The Wall Street Journal

A Midwest antiabortion group used cellphone location data to target online content to visitors of certain Planned Parenthood clinics, according to people familiar with the matter and documents reviewed by The Wall Street Journal.

Fed Officials Face ‘Loathsome’ Playbook for Debt-Ceiling Standoff

Nick Timiraos, The Wall Street Journal

Washington’s debt-limit impasse could soon force officials at the Federal Reserve to revisit a crisis-management playbook they put together during similar fights a decade ago.

‘Biden and Me’: DeSantis Privately Tells Donors Trump Can’t Win

Maggie Haberman et al., The New York Times

Gov. Ron DeSantis of Florida all but declared his presidential candidacy on Thursday afternoon, telling donors and supporters on a call that only three “credible” candidates were in the race and that only he would be able to win both the Republican primary and the general election.

Inside Biden’s plan to win back Latino voters

Sophia Cai, Axios

President Biden will enter 2024 determined to reverse Democrats’ sliding support among Latino voters, in part by building on the playbook the party used with surprising success in key states during last year’s midterms, Democratic officials say.

Raskin To Decide on Senate Run Over Memorial Day Weekend

Nolan D. McCaskill, The Messenger

Rep. Jamie Raskin (D-Md.) said Thursday he will decide whether to run for U.S. Senate over Memorial Day weekend, adding that he expects to make a formal announcement in early June.

Youngkin feeds 2024 presidential buzz with ad linking him to Reagan

Laura Vozzella et al., The Washington Post

“It’s pretty overwhelming to contemplate the future of America,” the governor of Virginia was saying. Yet Republican Glenn Youngkin seemed to be doing just that Thursday as he rolled out a campaign-style video appearing to cast him as the successor to President Ronald Reagan — despite his pledge to focus entirely on this year’s Virginia legislative races.

Rating change: Allred puts Texas Senate race on the battleground

Nathan L. Gonzales, Roll Call

Democrats have lost more than 100 consecutive statewide races in Texas over the past 30 years, so on the surface it doesn’t make sense to move the 2024 U.S. Senate race in their direction. But the contours of the race have changed.

Anti-abortion leaders worry they may have to oppose Trump if he doesn’t back national ban

Meridith McGraw and Natalie Allison, Politico

Top anti-abortion leaders are continuing to lobby Donald Trump on a 15-week ban they believe should be the standard for the Republican Party.

Disney scraps plans for new Florida campus, mass employee relocation amid DeSantis feud

Sarah Whitten, CNBC

Disney has abandoned plans to open up a new employee campus in Lake Nona, Florida, amid rising tensions with the state’s governor.

Montana becomes the first state to ban TikTok

Ayana Archie, NPR

Gov. Greg Gianforte signed Senate Bill 419 on Wednesday, saying he wants to protect the state’s residents’ private information from being compromised. He pointed to the Chinese government as a potential threat.

Trial over Kari Lake’s last challenge to loss in Arizona governor’s race enters 2nd day

Terry Tang and Jacques Billeaud, The Associated Press

Attorneys for Kari Lake entered a second day Thursday of trying to build a case for the only remaining legal claim in her challenge to the Arizona governor’s race.

Big Tech carves loopholes out of state kids’ safety laws

Rebecca Kern, Politico

A new law in Arkansas — the Social Media Safety Act — would bar any kids under age 18 from using social media apps unless they get parental consent.

Why the Supreme Court Is Blind to Its Own Corruption

Randall D. Eliason, The New York Times

The scandal surrounding Justice Clarence Thomas has further eroded the already record-low public confidence in the Supreme Court. If Chief Justice John Roberts wonders how such a thing could have happened, he might start looking for answers within the cloistered walls of his own courtroom.

More Election Warnings for the GOP

The Editorial Board, The Wall Street Journal

Three times in a row, since 2018, Republicans have been disappointed on election night in November, in large part because they lost the suburbs. More defeats Tuesday for the GOP in Pennsylvania, Colorado and Florida suggest the erosion is continuing.