• Home prices hit a record high in May as sales stalled. Mortgage payments have more than doubled in the past five years.
  
  

• Paris Hilton, Michael Phelps and Randy Travis will meet with lawmakers. They’re each pushing different causes.
  
  

• There’s a heat wave impacting tens of millions across the country, including a heat dome parked over the Midwest and East Coast. Here are some ways Washingtonians can stay cool this weekend and tips on how to stay safe.

Border officials are reporting a significant drop in migrant encounters weeks after President Biden’s executive action limiting asylum claims for those trying to cross into the U.S. from Mexico.

• U.S. Customs and Border Protection said Friday that encounters have decreased by 25 percent, although they noted “migration flows are dynamic.”

Biden’s border order addressed one of his glaring weak spots against former President Trump, as polls show border security will be a top issue driving voters to the polls in November.

It’s too early to call it a trend, but Biden’s job approval rating has ticked up slightly in recent weeks:

• The latest American Research Group poll finds Biden’s approval jumping 5 points month-over-month.
  
  
• According to The Hill/Decision Desk HQ’s aggregation of polls, Biden has ticked up from 39.6 percent approval on May 24 to 43.8 percent now.
  
  
• It’s a small move, and Biden is still deep underwater amid voter concerns about immigration, the economy and his age.

Meanwhile, Trump busted out an immigration surprise of his own.

The former president said he’d support green cards for international college graduates in the U.S. The proposal mirrors one from Hillary Clinton in 2016.

Speaking on the “All-In” podcast, Trump said it could be a way for the U.S. to retain talent that would otherwise return home to India or China.

Debate prep for President Biden and former President Trump is in full swing ahead of Thursday’s showdown.

Biden is hunkering down at Camp David, while Trump famously takes a more freewheeling approach that will include a lot of improvising. Trump is holding a campaign rally on Saturday in Philadelphia to sharpen his skills.

The stakes are heightened, as it’s one of only two presidential debates this cycle.

Some Republicans are fearful that they’ve set the bar too low for Biden after months of casting the president as mentally adrift and unable to perform basic tasks.

Trump took a different tack Thursday, saying on the “All-In” podcast that Biden is a “worthy debater” and that he doesn’t want to “underestimate” him.

The Hill’s Brett Samuels reports that Trump’s allies are already laying the groundwork to push back if Biden notches a strong performance.

They’re making baseless claims that Biden has used performance enhancing drugs for speeches in past instances when he’s risen to the moment.

But Biden faces real questions about his age, so the debate will give him a chance to convince voters he’s up for another term. 

Read more:

• Biden seeks turning point in debate vs. Trump.
• Youngkin to join Trump for post-debate rally.
• Biden campaign worried about Black voters in Wisconsin.
• DNC to credential social media influencers for the first time.

President Biden’s personal attorney Bob Bauer suggested in an interview with Politico on Friday that he’s preparing for legal challenges to the 2024 election results.

Bauer singled out Michigan, a critical battleground that Biden won in 2020. More than a dozen GOP officials in the state were charged in a scheme to send fake electors to Congress certifying former President Trump as the victor.

“We’re seeing — and have seen — election officials say, ‘If I’m not satisfied with the outcome here, I may not certify; I’ll just block it.’ And you saw that play out very dramatically in Michigan in 2020. That is something that we might see more of this time around.”

More courts and campaigns:

• Missouri Attorney General Andrew Bailey (R) says he’ll sue the state of New York over the charges brought against Trump that resulted in 34 felony convictions. Bailey asserts that New York’s “unconstitutional law fare” against Trump is keeping Missourians from participating in a “free and fair election.”
  
  
• Rep. Bob Good (R-Va.) says he’ll pursue a recount and wants a “full investigation” into the vote counting in his primary against Republican John McGuire. Votes are still being counted, but McGuire holds a small lead after getting a boost from Trump.
  
  
• Former White House adviser Steve Bannon filed an emergency appeal with the Supreme Court as he seeks to avoid prison. A lower appeals court denied Bannon’s bid on Thursday.
  
  
• A Florida judge appointed by Trump is holding a hearing to determine if Jack Smith’s appointment as special counsel is constitutional.

Republicans are running with former President Trump’s proposal to eliminate taxes on tips.

Sen. Ted Cruz (R-Texas) has introduced the “No Tax on Tips” Act in the Senate, and there’s a companion measure put forward by Republicans in the House.

Not all conservatives are on board. Rep. Chip Roy (R-Texas) said tipped workers shouldn’t be treated differently than other low-wage workers.

Democrats are pointing to remarks from The Committee for a Responsible Federal Budget, which estimated it would lead to a decrease in federal revenue of between $150 billion and $250 billion over 10 years.

Read more:

• Trump’s “tax-free tips” proposal gets headlines even as experts raise eyebrows.

“Biden’s character attacks on Trump reveal campaign struggles,” by Stephen Collins for CNN.

“Donald Trump’s all-powerful presidency,” by Chris Truax for The Hill.

“The threat of terrorism has returned to America,” by Will Selber for The Bulwark.

“The purpose of journalism is to get the story,” by Peggy Noonan for The Wall Street Journal.

Friday

• President Biden is at Camp David for debate prep.
  
  
• Vice President Harris headlines a campaign event in New York City this evening before returning to Washington.

Saturday

• Trump holds a rally at the Liacouras Center in Philadelphia.