The Note: Pompeo holds keys to Trump credibility on Russia Pompeo’s one and only opportunity for congressional testimony this week.

The TAKE with Rick Klein

President Donald Trump can go all caps, can threaten foes with actions they don’t care about, and can suggest that the Russians really want the Democrats to win.

But he can’t change the facts of what transpired last week in Helsinki. Amid a fresh challenge to the president’s credibility, this time caught on tape, that’s where Secretary of State Mike Pompeo comes in.

Pompeo’s appearance before the Senate Foreign Relations Committee on Wednesday could be a defining moment for Trump’s foreign policy, and for the White House’s ability to rally allies in Congress.

It comes on a big day for the president himself, as Trump deals with fallout from the first Michael Cohen recording to emerge publicly, and as he welcomes the president of the European Commission at the White House amid fresh trade-war talk.

Pompeo has made clear that he – unlike, say, Director of National Intelligence Dan Coats – is read-in about what Trump and Russian President Vladimir Putin talked about. His has a reputation on Capitol Hill as a member of the Trump administration whose word can be trusted.

Pompeo’s one and only opportunity for congressional testimony this week will be his chance to begin to detail – if he chooses – what was actually discussed and agreed upon at the summit. The questions raised last week about the president’s actions are just as relevant this week.

The RUNDOWN with MaryAlice Parks

Alexandria Ocasio-Cortez, New York’s insurgent Democratic candidate who rocketed to stardom after beating a sitting member of Democratic leadership, was on Capitol Hill yesterday meeting with lawmakers who will be her colleagues if she wins in November.

There’s been a lot of talk about whether her victory means the party and Democratic base voters are tracking to the left.

What might a vision of a larger government, based on progressive principles, look like? What would it look like if Democrats took the House and more Democratic Socialist-leaning members took the reins?

The Progressive Caucus in the House released a budget proposal yesterday that offers some hints, though rough and hypothetical.

“The People’s Budget” called for a $2 trillion investment to redo mass transit systems and other infrastructure.

It set aside money for investments, renewable energy systems, universal childcare, “debt-free” college programs and helping states transition to single-payer healthcare systems.

It also called for $100 billion to increase access to high-speed internet.

To pay for it all, the group suggests: closing the capital gains loop hole (so investment gains are treated more like salary for hedge-fund types), taxing some of the largest banks more, adding a tax to some stock and bond transactions and adding new tax brackets (45%-49%) for the wealthiest Americans who make between $1 million and over $1 billion dollars a year.

The TIP with Adam Kelsey & Jeffrey Cook

For a look at what went so wrong for Georgia Lt. Gov. Casey Cagle in last night's GOP gubernatorial runoff, look no further than the Atlanta area, home to some of the state's most moderate Republicans and a supposed stronghold for Cagle.

In each of Cobb, DeKalb and Fulton counties — home to the middle and upper class suburbs so ostensibly perturbed by President Trump that they contributed to the near upset by Democrat Jon Ossoff in last year's 6th district special election — the Trump-backed Brian Kemp won resounding victories, a late evening death blow to Cagle after Kemp vaulted ahead early in conservative rural counties.

But the state secretary of state's victory could be playing right into the hands of Democrats, seeking to make their nominee, former Georgia state Rep. Stacey Abrams, the first black female governor in U.S. history.

Earlier this week a national Democratic official told ABC News that Kemp was the preferred opponent from their perspective, predicated on the idea that Abrams could win over those moderate voters turned off by a Republican modeled after Trump.

For Kemp to maintain momentum in the general election and win over swing voters, his trademark guns-and-trucks ads may have to be banished until the next primary.

WHAT YOU NEED TO KNOW TODAY

Lanny Davis, the lawyer for Donald Trump's former attorney Michael Cohen, will appear on Good Morning America for a one-on-one interview with ABC's chief anchor George Stephanopoulos at 7 a.m. EDT.

Trump holds a bilateral meeting with the president of the European Commission at 1:45 p.m.

Maria Butina, the Russian gun rights activist who was recently charged as a foreign agent, appears before Judge Tanya S. Chutkan at 10:15 a.m.

Secretary of State Mike Pompeo testifies before the Senate Committee on Foreign Relations at 2:30 p.m.

QUOTE OF THE DAY

"The Speaker and I made it clear that Putin would not be welcome up here, at the Capitol." – Senate Majority Leader Mitch McConnell on Tuesday.

THE PLAYLIST

ABC News Podcast “Start Here.” The episode looks into the Cohen-Trump tape, Farmer bailouts and Greece wildfires.

ABC News Podcast “Powerhouse Politics.” Rick Klein and MaryAlice Parks interviews Rep. Beto O’Rourke, the Democratic Senate nominee in Texas at 12 p.m. EDT.

NEED TO READ

Trump-Cohen secret audio tape just made public. CNN has released what it says is the secret audio recording between Donald Trump and his attorney Michael Cohen. (Katherine Faulders) https://abcn.ws/2ObYFnY

Europeans offer Trump 2 options to diffuse trade war. On the cusp of a trade war with the European Union, President Donald Trump meets Wednesday with European Commission President Jean-Claude Juncker, who comes armed with options to diffuse the threat of a 20 percent tariff on European cars. (Tara Palmeri) https://abcn.ws/2v3PKfz

Judge in Manafort's Virginia trial asks prosecutors to avoid mentioning collusion. Though "Russia" and "collusion" are words that have appeared in headlines about the work of special counsel Robert Mueller, they are not words to be uttered during the coming trial of Paul Manafort. (Trish Turner) https://abcn.ws/2Od4z8F

Trump administration announces $12 billion in emergency aid to farmers hurt by president’s trade battle with China and others. The Trump administration will extend billions in "temporary relief aid" to farmers who have been impacted by an ongoing trade fight with China and other nations. (Stephanie Ebbs, Karolina Rivas and Tara Palmeri) https://abcn.ws/2JPVoYl

President Trump defiant on trade war in remarks to VFW. "Just be a little patient. They are all aiming for anybody who likes me," Trump told the crowd, speaking of foreign countries who have imposed retaliatory tariffs aimed at Trump's base. (Alexander Mallin) https://abcn.ws/2O8Mit3

President Trump says he's 'very concerned' Russia will meddle to Democrats' benefit. President Donald Trump said Tuesday he's "very concerned" that Russia will attempt to meddle in the upcoming midterm elections to the benefit of the Democrats because he says he's been so tough on Russia. (Jordyn Phelps) https://abcn.ws/2LLbggu

Congress OKs delay in F-35 jet transfer to Turkey as Pentagon warns of consequences. Congress is a step closer to blocking Turkey from acquiring U.S.-made fighter jets, a big priority for some lawmakers looking to rebuke the country’s human rights abuses but which administration officials have warned could have unforeseen consequences. (Ali Rogin) https://abcn.ws/2uOt97z

House Democrats introduce bill to require two years of debt-free college across the US. As the price of college tuition increases, students face financial struggles that may stop them from attending a university or collecting a significant debt – prompting Democrats to craft a debt-free college legislative proposal. (Karolina Rivas) https://abcn.ws/2OeFCcP

Dramatic increase in voters purged from voter rolls between 2014 and 2016: Report. A recent report from the Brennan Center for Justice found that between 2014 and 2016 states purged almost 16 million voters from the rolls, four million more voters than removed from 2006 to 2008. (Adia Robinson) https://abcn.ws/2A51KDB

Attorney General Jeff Sessions says 'lock her up' at high school leadership event. Attorney General Jeff Sessions said "lock her up" at an event on Tuesday – amid a refrain of calls to jail former Secretary of State Hillary Clinton that was often shouted at Trump's presidential campaign rallies during the 2016 elections. (Luke Barr) https://abcn.ws/2Oce9IJ

Florida GOP gubernatorial candidate calls Ocasio-Cortez 'This girl…or whatever she is.' “You look at this girl Ocasio-Cortez or whatever she is,” DeSantis said to a laughing audience. “It’s basically socialism wrapped in ignorance.” (Lissette Rodriguez and Karolina Rivas) https://abcn.ws/2uJUojQ

The Washington Post reports on President Trump’s company’s desire to revive plans to build hundreds of new homes near a Trump golf course in Scotland. https://wapo.st/2uObRHF

The Note is a daily ABC News feature that highlights the key political moments of the day ahead. Please check back tomorrow for the latest.