Home Economy Shutdown looms as Trump fights Democrats over border wall | Trump to unveil tax-plan ‘principles’

Shutdown looms as Trump fights Democrats over border wall | Trump to unveil tax-plan ‘principles’

3 min read

         Shutdown looms as Trump fights Democrats over border wall | Trump to unveil tax-plan ‘principles’

President Donald Trump and Congress are on a collision course over funding the government this week, with the White House demanding money for a border wall with Mexico and Democrats vowing that project it will never see a penny, Politico writes.

The government is funded through Friday, and it appears Trump is heading for disappointment. Democrats are signaling they are unlikely to cave, and Republicans on Capitol Hill are pressing the administration to fight another day, Politico reports. Meanwhile, White House officials and House Republican sources told Politico that a one-week stopgap bill may be needed to buy more time to negotiate a larger bill to fund the government through September.

Also read: Trump tweets new health-care warning, presses for border-wall funding.

Tax-plan preview: Trump says a “big tax reform and tax reduction” announcement is coming Wednesday, but his budget director said a complete proposal probably won’t be ready until June. Office of Management and Budget Director Mick Mulvaney told Fox News over the weekend that the White House will offer “specific governing principles” for its tax plan, along with indications of what new rates would be. Bloomberg — which earlier reported Trump’s plan probably won’t include a border-adjusted tax — has more on Mulvaney.

Hearing on replacing Dodd-Frank: Lawmakers on the House Financial Services Committee will begin considering Chairman Jeb Hensarling’s rewrite of postrecession financial regulation on Wednesday, the Hill reports. The committee will discuss the Texas Republican’s CHOICE Act, a reboot of legislation he introduced last year laying out Republican priorities for replacing major parts of the Dodd-Frank Act.

More trade executive orders? Axios reports there could be as many as three executive orders this week on trade. One possibly set for Thursday concerns aluminum. It would be a similar model to the recent directive on steel, in which Trump directed Commerce Secretary Wilbur Ross to investigate whether steel imports compromise U.S. national security.

Load More Related Articles
Load More By Vanessa Hill
Load More In Economy

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

GDP grows at stronger-than-forecast 3% rate in third quarter

The numbers: The U.S. grew at a solid 3% annual pace in third quarter despite damage from …