The Note: The Dilemma Of the Democrats

— -- NOTABLES

YESTERDAY ON THE TRAIL

with ABC’s PAOLA CHAVEZ

DONALD TRUMP GETS MEASURED ENDORSEMENT FROM TOP FEMALE HOUSE REPUBLICAN. The highest-ranking woman in the House Republican conference endorsed Donald Trump late Wednesday night, carefully backing the controversial New York businessman in what could serve as a template for Republicans who still have reservations about their party's presumptive presidential nominee, ABC’s BENJAMIN SIEGEL reports. Rep. Cathy McMorris Rodgers, R-Wash., the House GOP conference chairwoman, said in a statement and Facebook post that she mailed in her primary ballot for Trump earlier this week, saying it is "essential" to respect the will of GOP primary voters. But the Washington Republican, a mother of a child with Down syndrome, has also been concerned by Trump's comments about women, the disabled and various ethnic groups on the campaign trail, and said he still has work to do to completely win over Republicans. http://abcn.ws/1W4bktO

WHAT WE LEARNED FROM DONALD TRUMP’S PERSONAL FINANCIAL DISCLOSURE FORM. Donald Trump has filed a new personal financial disclosure form with the Federal Election Commission, a federally mandated document that shows a candidate’s personal assets, business positions and annual income. In the 104-page financial report, Trump again claims that his national golf club in Westchester is worth “over $50,000,000,” despite the fact that his lawyers initially argued it was actually only worth $1.35 million in a recent tax dispute. Attorneys for Trump later revised their estimated value of the golf course to $9 million following questions from ABC News and others. ABC’s RYAN STRUYK and CHRIS GOOD have more on what the report shows. http://abcn.ws/1ssPlA9

ROAD TO THE WHITE HOUSE: CAMPAIGNS MAP OUT ‘TRANSITION OF POWER’ STRATEGIES. If there really is a 'road to the White House,' Max Stier and David Eagles are faced with the tough task of making sure it’s well-paved, ensuring candidates and the outgoing president successfully manage the critical transition of power. Stier and Eagles head up the Center for Presidential Transition, and have kept in touch since an April meeting in New York with senior staff to the Trump, Clinton and Sanders campaigns who they say are at different stages in building their transition teams, each with “different levels of maturity” in their operations. The Center for Presidential Transition was launched by the nonprofit, nonpartisan Partnership for Public Service in January of this year to ensure the smooth, safe and efficient transfer of power between one administration to the next, ABC’s KATHERINE FAULDERS and ALEXANDER MALLIN note. http://abcn.ws/25bt2kn

VP JOE BIDEN RIPS DONALD TRUMP FOR SUGGESTING AMERICAN WAGES ARE TOO HIGH. Vice President Joe Biden went into attack mode yesterday, slamming Republican presidential presumptive nominee Donald Trump for previously suggesting that American wages are too high. “All this stuff coming from Trump, you know, ‘American workers are getting paid too much?’ Where the hell does he live?” Biden exclaimed. “Well, I know where he lives, but I'm serious, think about it.” The attack seemed to reference comments from Trump during a Fox News debate on Nov. 11, 2015, according to ABC’s JOHN PARKINSON. Trump has since walked back the comment, even suggesting now that the minimum wage should be increased. http://abcn.ws/1quV3QF

IN THE NOTE’S INBOX

RNC LAUNCHES NEW RESEARCH AGAINST CLINTON: ‘THESE ARE WHAT HER ENDORSERS SAY…’ The Republican National Committee is out with new research against Hillary Clinton arguing that one year into her candidacy, the Democratic frontrunner has “racked up backhanded newspaper endorsements.” “While Clinton touts the editorial boards across the country that have "endorsed" her in the Democrat primary, they have only done so reluctantly, feeling they have no strong alternative and must settle for a dishonest, ethically challenged candidate whose lapses in judgment have led to endless scandal,” the research page read. The research includes about 50 editorials from newspapers including the Miami Herald, The Des Moines Register, The Boston Globe and the LA Times. http://bit.ly/1RS7H7o

IN CASE YOU MISSED IT

NEW JERSEY RESIDENTS OPPOSE CHRIS CHRISTIE AS POTENTIAL TRUMP VP PICK. While likely Republican presidential nominee Donald Trump is rumored to have New Jersey Gov. Chris Christie on his short list of potential vice presidential picks, New Jersey voters don’t share Trump’s enthusiasm for their governor and oppose the idea of him as Trump’s running mate by a 4-to-1 margin. According to a new Quinnipiac poll released Wednesday, 72 percent of New Jersey voters oppose the idea of Christie as Trump’s vice president pick, while 18 percent are in favor. Among Republicans, 64 percent said they disapprove compared to 27 percent who are in favor of a Trump/Christie ticket, ABC’s JORDYN PHELPS reports. http://abcn.ws/27zNVEt

WHO’S TWEETING

@alex_mallin: .@POTUS briefed on #EgyptAir and has "directed Admin officials to reach out to their intl counterparts to offer support and assistance."

@TheBradMielke: New Q poll from NJ: Clinton 54 Sanders 40 Clinton 45 Trump 38 Sanders 49 Trump 37

@JenniferJJacobs: Team Trump gets help on veep selection from DC lawyer who choose Sarah Palin in 2008. Scoop with @kevcirilli. http://bloom.bg/27DlKVk

@benyc: McMorris Rogers says Trump still has to "earn" presidency by demonstrating temperament, plans to "empower" Americans

@ryanstruyk: Trump income on new disclosures Mar-A-Lago 2014: $16m 2015: $30m Trump Carousel 2014: $588k 2015: $702k Trump Ice 2014: $280k 2015: $413k