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By Jake Sherman, Anna Palmer and Daniel Lippman

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Listen to today's Audio Briefing
DRIVING THE DAY
EVERYONE TAKE A DEEP BREATH ... TODAY'S going to be a doozy.

THE MAIN EVENT THIS MORNING ... MICHAEL COHEN, PRESIDENT DONALD TRUMP'S former attorney and fixer, will testify this morning at 10 a.m. in 2154 Rayburn.

THE PRESIDENT'S summit with North Korea's strongman leader KIM JONG UN now threatens to be completely overshadowed by this House hearing. Today is one of those days that every single cable network is going to be fixated on Cohen's testimony.

IS HE A PERFECT witness? No, definitely not. He's going to jail, in part, for lying to Congress. And the president's allies will say that he worked for a man for a decade that he is now calling a liar, racist and criminal. Republicans are going to do their best to remind the public that his testimony reeks of opportunism as the man is on the brink of prison. But so few people have made it into Trump's inner circle, and Cohen was in it for a decade. That's why this is incredibly compelling. Now he's going to prison with little else to lose, and a man with nothing to lose in a circumstance like this seems like he will have a lot to say.

WHAT COHEN WILL SAY ... ANDREW DESIDERIO: "Cohen testimony on Trump: 'He is a racist. He is a conman. He is a cheat'": "Michael Cohen, President Donald Trump's former lawyer and fixer, will provide documents to the House Oversight Committee on Wednesday that he says prove Trump's 'illicit' acts, according to prepared congressional testimony obtained by POLITICO.

"The documents include a check that Trump purportedly wrote after he became president to reimburse Cohen for a hush-money payment to the adult-film actress Stormy Daniels, who alleges she had an affair with Trump. Cohen says the money came from Trump's personal bank account.

"Cohen, who pleaded guilty to crimes that included lying to Congress, will express remorse over his service to Trump, and will say he is no longer interested in protecting the president. 'I am ashamed that I chose to take part in concealing Mr. Trump's illicit acts rather than listening to my own conscience,' Cohen will say. 'I am ashamed because I know what Mr. Trump is.' Cohen adds: 'He is a racist. He is a conman. He is a cheat.'

"In his prepared remarks, Cohen will say Trump knew that his longtime associate Roger Stone 'was talking with Julian Assange about a WikiLeaks drop of Democratic National Committee emails.'" POLITICO

MORE HIGHLIGHTS FROM COHEN'S TESTIMONY ...

-- COHEN's answer to his critics, per his remarks: "For those who question my motives for being here today, I understand. I have lied, but I am not a liar. I have done bad things, but I am not a bad man."

-- COHEN WILL SAY HE SUSPECTS DON JR. TOLD HIS FATHER ABOUT THE TRUMP TOWER MEETING WITH A RUSSIAN OPERATIVE: "I remember being in the room with Mr. Trump, probably in early June 2016, when something peculiar happened. Don Jr. came into the room and walked behind his father's desk -- which in itself was unusual.

"People didn't just walk behind Mr. Trump's desk to talk to him. I recalled Don Jr. leaning over to his father and speaking in a low voice, which I could clearly hear, and saying: 'The meeting is all set.' I remember Mr. Trump saying, 'OK good ... let me know.'" Cohen's full prepared remarks

THE PRESIDENT RESPONDED at 4:08 a.m. (@realDonaldTrump): "Michael Cohen was one of many lawyers who represented me (unfortunately). He had other clients also. He was just disbarred by the State Supreme Court for lying & fraud. He did bad things unrelated to Trump. He is lying in order to reduce his prison time. Using Crooked's lawyer!"

WHO TO WATCH: CHAIRMAN ELIJAH CUMMINGS (D-MD.), ranking Republican JIM JORDAN of Ohio and REP. MARK MEADOWS (R-N.C.). The rookies: Dem REPS. ALEXANDRIA OCASIO-CORTEZ (N.Y.) and RASHIDA TLAIB (MICH.); GOP REP. CHIP ROY (TEXAS).

SNEAK PEEK ... MARK MEADOWS, one of the president's top allies on Capitol Hill and a member of the Oversight Committee, previewed the hearing in an interview for Playbook.

"I THINK IT'S GOING TO BE unbelievable political theater like we've not seen since Hillary Clinton came to testify on Benghazi. ... Certainly, Michael Cohen is coming trying to -- according to him -- trying to be a good patriot. I think the facts and the questions that he'll have to answer tomorrow will call into question what his ultimate motivations have been, and what they ultimately are."

MEADOWS said Cohen is putting himself at great risk because of his "lobbying activity, and the lack of registering appropriately for that activity. There's potential criminal abuse that hopefully he'll be able to answer."

THE NO. 1 THING MEADOWS wants to find out is "why [Cohen] did not cooperate with the Southern District of New York." "He's got plenty to hide," Meadows said, intimating that Cohen decided to cooperate with an investigation that wouldn't ensnare him, but just the president.

MEADOWS told us there was an agreement between Cummings and Intel Chairman Adam Schiff of California to divvy up the hearing topics: Oversight gets Trump's business dealings, and Schiff's committee gets the Russia stuff behind closed doors. MEADOWS and other Republicans said they don't feel bound by that agreement. CNN's Manu Raju and Jeremy Herb have more on this deal

THE PRESIDENT'S ALLIES are going to try to paint Cohen as an untrustworthy sleazebag. Democrats see this as a sunlight-is-the-best-disinfectant moment.

THE LENGTHS THEY GO ... REP. MATT GAETZ (R-FLA.), one of the president's top defenders, tweeted this Tuesday afternoon: "Hey @MichaelCohen212 -- Do your wife & father-in-law know about your girlfriends? Maybe tonight would be a good time for that chat. I wonder if she'll remain faithful when you're in prison. She's about to learn a lot..." Read more from Andrew Restuccia and Darren Samuelsohn on Gaetz's apology

-- HOUSE GOP LEADERSHIP did not respond to requests for comment about this.

ALERT: THE CONGRESSIONAL BUDGET OFFICE says Congress needs to raise the debt limit by September or October. CBO's full statement

A message from Everytown for Gun Safety:

The House is about to vote on H.R. 8 -- a bill that will close dangerous loopholes in our background check system. Too many people have died and too many lives have been changed forever - now is the time for Congress to finally take action. Vote Yes on H.R. 8. Learn more here.

THE LATEST ON THE SUMMIT ...

-- "Anticipation mounts as Trump, Kim close in on second summit," by AP's Jonathan Lemire, Foster Klug and Deb Riechmann in Hanoi, Vietnam: "President Donald Trump enthusiastically waved a tiny Vietnamese flag Wednesday as he sought to convince North Korea's Kim Jong Un that his nation could thrive economically like Vietnam if he would end his pursuit of nuclear weapons.

"'We'll see what happens, but he wants to do something great,' Trump said, adding that Kim could use Vietnam as a model for economic revitalization. 'If you look at what you've done in a short time, he can do it in a very, very rapid time - make North Korea into a great economic power.'" AP

-- BRYAN BENDER and DAVID BROWN: "How Trump and Kim could succeed in Hanoi": "A major nuclear breakthrough with North Korea is a long shot this week for President Donald Trump, but there are a number of ways to make real progress with Kim Jong Un at the leaders' second summit in Hanoi.

"The two countries could agree to shutter North Korea's plutonium and uranium enrichment plants, adopt a road map for inspections or put an end to Pyongyang's missile tests - all of which would represent significant steps toward pulling the Korean peninsula away from a nuclear conflict." POLITICO

NEW POLITICO/MORNING CONSULT POLL: "Poll: Majority wants Mueller report released to the public," by Steven Shepard: "Voters overwhelmingly think the forthcoming report prepared by Robert Mueller, the special counsel investigating foreign interference in the 2016 election and the Trump campaign, should be made public by the Justice Department, according to a new POLITICO/Morning Consult poll conducted amid rumors that Mueller may be preparing to wind up the probe.

"More than two-thirds of voters surveyed, 68 percent, say the report - which will go first to Attorney General Bill Barr and other department officials - should be made public. Only 10 percent say it shouldn't be made public, and 22 percent are undecided." POLITICO

THE LATEST ON TRUMP'S EMERGENCY DECLARATION -- "GOP unloads border angst on Pence," by Burgess Everett: "Vice President Mike Pence faced a wall of resistance from Senate Republicans on Tuesday as he tried to sell President Donald Trump's national emergency declaration on the southern border, according to multiple GOP sources.

"The pointed reception at the GOP lunch raised further doubts among Senate Republicans that the administration will be able to hold down defections on a crucial vote to block the president in the coming weeks. 'There was a lot of passion from some of our members. And I think there is some skepticism. People are just genuinely concerned that we're doing the right thing,' said one Republican senator, who requested anonymity to speak candidly." POLITICO

-- "House votes to block Trump's national emergency declaration," by Sarah Ferris ... 13 Republicans, including former members of leadership Greg Walden (Ore.) and Cathy McMorris Rodgers (Wash.), voted to overturn the declaration.

NANCY COOK and GABBY ORR, "Missing from Trump's wall war: What immigration hawks really want": "President Donald Trump sees his border wall crusade as a base-pleasing 2020 campaign asset, proof that he is the ultimate immigration hardliner. But his wall may not be built for years, if ever. In the meantime, Trump has yet to deliver on several other campaign promises that immigration hawks call far more important - a failure that could cost him among conservatives demanding results on border security going into Trump's reelection bid.

"Over two years in the White House, Trump has struggled to execute numerous agenda items long on immigration hardliners' wish list - like finalizing stricter regulations, overhauling the immigration court system, adding additional surveillance technology to the border, doing away with sanctuary cities and making sure employers electronically check the immigration status of all workers." POLITICO

2020 WATCH ... NATASHA KORECKI: "Top Democrats want 2020 candidates to sign non-aggression pact": "Democratic Party chairs in the four early presidential states are working to convince the 2020 presidential candidates to avoid waging social media disinformation warfare against each other. The effort began this week with a letter to state party chairs across the country broadly laying out the issue with an ultimate goal of establishing what amounts to a non-aggression pact, according to a copy of the letter obtained by POLITICO." POLITICO

-- NYT'S JONATHAN MARTIN in Newark, Del.: "Biden's Family Is Urging Him to Run in 2020": "Former Vice President Joseph R. Biden Jr. said Tuesday that there's 'a consensus' in his family that he should run for president, but Mr. Biden said he did not want to embark on 'a fool's errand' and was still deliberating about whether to enter the race for the Democratic nomination.

"'The most important people in my life want me to run,' Mr. Biden said, disclosing that he had a family meeting this month, which included his grandchildren, to discuss whether he should mount what would be his third presidential bid.

"In the most detailed and unvarnished accounting yet of his thinking, the former vice president outlined a series of concerns about running. They included whether he would be able to garner enough money and support, and the nastiness of the campaign he predicted President Trump would run against whomever Democrats nominate. 'It would be the greatest honor of my life to be president of the United States, but it's also something I have to make sure I could run a first-rate effort to do this,' he said." NYT

-- ANNA spoke with CHIRLANE MCCRAY, first lady of New York City, in the latest Women Rule podcast about her husband Mayor Bill De Blasio's potential 2020 run. She said de Blasio would "be a great president," but that "the timing is not exactly right" for a 2020 presidential run. Subscribe and listen to the full podcast

-- STEVEN SHEPARD: "Fewer than 3-in-10 Dems have 'strong opinion' about 2020 nominee"

A message from Everytown for Gun Safety:


It's been 25 years since Congress enacted the federal background check system. It's time to finally update it. Vote Yes on H.R. 8. Learn more here.

CHICAGO MAYOR NEWS ... "Chicago poised to elect first African-American female mayor after Lori Lightfoot, Toni Preckwinkle advance," by Chicago Tribune's Bill Ruthhart: "Chicago will elect its first African-American female mayor after former federal prosecutor Lori Lightfoot and Cook County Board President Toni Preckwinkle won enough votes Tuesday amid a record field of 14 candidates to move on to an April runoff election. It's only the second time Chicago has had a runoff campaign for mayor." Chicago Tribune
PLAYBOOK READS


PHOTO DU JOUR: Vietnamese Prime Minister Nguyen Xuan Phuc and President Donald Trump are all smiles Wednesday before a meeting in Hanoi. | Evan Vucci/AP Photo

COMING ATTRACTIONS -- "Whitaker Agrees to Request to Return to House to Clarify Testimony," by WSJ's Dustin Volz: "Former acting Attorney General Matthew Whitaker has agreed to meet a second time with House lawmakers to clarify public testimony he gave earlier this month, the chairman of the House Judiciary Committee said.

"Rep. Jerrold Nadler (D-N.Y.) tweeted on Tuesday that Mr. Whitaker will return before the committee to answer more questions nearly three weeks after he traded barbs with Democrats and avoided answering several lines of questioning during a contentious public hearing." WSJ

FOR YOUR RADAR -- "Wynn Resorts to Pay $20 Million Fine Related to Sexual Misconduct Investigation," by WSJ's Alexandra Berzon and Micah Maidenberg: "Nevada gambling regulators levied their largest fine in the state's history against Wynn Resorts Ltd. after the Las Vegas company admitted that it systematically ignored employees' sexual-misconduct allegations against founder and former chief executive Steve Wynn.

"The Nevada Gaming Commission approved the $20 million fine in a 4-0 vote on Tuesday. The amount is almost four times larger than any previous fine by state gambling regulators." WSJ

A message from Everytown for Gun Safety:


The countdown is on. We urge Congress: pass H.R. 8 to update background checks. Learn more here.

WHAT THEY'RE UP TO NOW -- "Boeing nominates former U.N. ambassador Nikki Haley to board of directors," by WaPo's Aaron Gregg

HMM -- "Josh Hawley used a state-owned car for campaign travel while attorney general," by The Kansas City Star's Lindsay Wise, Jason Hancock and Steve Vockrodt: "An employee of the Missouri attorney general's office occasionally drove Josh Hawley to campaign-related events in a state-owned car, an arrangement that raises new questions about Hawley's use of taxpayer-funded resources in the run up to his successful bid for U.S. Senate. Hawley's use of a state-owned car stands in contrast to how Missouri's other statewide elected officials say they utilize such vehicles." KC Star
PLAYBOOKERS
SPOTTED: Ted Olson having dinner Tuesday night at Cafe Milano. ... Michael Chertoff and his wife at the brand-new Rooster and Owl. Tom Sietsema was at an adjacent table.

SPOTTED at a reception Tuesday night honoring the 25th anniversary of the Brady Bill and helping launch the new name of the Brady Campaign to Prevent Gun Violence, which is now known as Brady: Speaker Nancy Pelosi, Senate Minority Leader Chuck Schumer, Reps. Brendan Boyle (D-Pa.), David Cicilline (D-R.I.), Katherine Clark (D-Mass.), Yvette Clarke (D-N.Y.), Jared Huffman (D-Calif.), Robin Kelly (D-Ill.), Scott Peters (D-Calif.) and Brad Schneider (D-Ill.), Kris Brown, former Reps. Bart Gordon (D-Tenn.) and Connie Morella (R-Md.), John Phillips, Jimmy Kolker, Bill Plante and Robin Smith, Jon Leibowitz and David Yassky.

BIRTHDAY OF THE DAY: Massachusetts state Sen. Eric Lesser, an Obama alum. A trend he thinks deserves more attention: "The continued vacuuming of jobs and economic opportunity into just a handful of globally connected cities is doing severe damage to our country's social fabric. It's damaging for everyone. In the places left behind, it contributes to the opioid epidemic, aging populations and cycles of job loss. And the cities that at first glance seem to be the greatest beneficiaries (like Boston or San Francisco) are seeing skyrocketing housing prices, congestion and all the challenges that come with that, like homelessness and gentrification." Playbook Plus Q&A

BIRTHDAYS: Chelsea Clinton is 39 ... Robbie Aiken ... Maureen Bunyan ... Greta Kreuz ... Sasha Johnson, United's managing director of regulatory and policy ... Genevieve Ryan is 3-0 (hat tip: Dad, Fred) .... Ralph Nader is 85 ... POLITICO's Mike Irwin and Joe Kamali ... Rebecca Sinderbrand, NBC News senior Washington editor and visiting lecturer at Yale ... Gary Knell, chairman of National Geographic Partners ... Greg Lubar ... Greg Speed (h/ts Jon Haber) ... Nils Bruzelius ... Vincent Polito, principal at mdg ... Kathy Gasperine ... Brian Malte ... CNBC's Kelly Olsen ... Julie Merz ... David Baumann, Washington correspondent and columnist at the Credit Union Times ... Kate DePriest ...
Emma Nelson, Congressional Leadership Fund's director of development and an NRCC and Jeb Bush alum (h/t Dan Conston) ...

... David Merritt, EVP for public affairs and strategic initiatives for AHIP ... investigative journalist and author Dan Moldea is 69 (h/t Nadia Szold) ... Antoine Sander ... Steven Robinson ... Sen. Maggie Hassan (D-N.H.) is 61 ... Rep. Adam Kinzinger (R-Ill.) is 41 ... Rep. Luke Messer (R-Ind.) is 5-0 ... Tony Mitson ... Jill Chappell ... Tim Morris is 41 ... Kelsey Wessels ... Adam Elkington ... Nick Minock ... John Fluharty ... Matt Herman ... Mary Walsh ... Blanquita Cullum ... Adrienne Morrell ... Maria Koklanaris Bonaquist ... Eddie Reeves is 57 ... Jim Javinsky is 49 ... Dan Hull ... Craig Kennedy, a senior fellow at the Hudson Institute (h/t son Adam) ... Trevor Kolego ... Mark
Blumenthal ... Justin Thiltgen (h/ts Teresa Vilmain)

A message from Everytown for Gun Safety:

Current federal law only requires licensed gun dealers to conduct background checks on gun sales. That means criminals, domestic abusers, and other people that shouldn't have guns can avoid the very background checks designed to block them from getting guns by simply buying them from unlicensed sellers. Since the enactment of the federal background check system 25 years ago, the Internet has emerged as a massive, unregulated marketplace for unlicensed sellers. A recent survey found that nearly a quarter (22%) of Americans who had acquired their most recent gun within the last two years reported doing so without a background check. Updating the federal law to require background checks on all
gun sales is a common-sense way to keep guns away from people who are legally prohibited from possessing them. This week, we urge Congress: vote YES on H.R. 8 to #UpdateBackgroundChecks. Learn more here.

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