| Shutdown drama grips the Capitol: House Republican leaders are within striking distance of securing enough GOP votes to pass a stopgap spending bill to prevent a government shutdown, which would shift the funding fight to the Senate. But they aren't out of the woods just yet. The House Freedom Caucus is vowing to oppose the spending measure unless leadership committed to putting a conservative immigration bill on the floor and boosting defense spending, which could make Thursday's floor vote on the continuing resolution (CR) a nail biter. Still, rank-and-file lawmakers and GOP leaders alike expressed confidence throughout Wednesday that their party would find the votes necessary to carry their legislation through the House. Rep. Mark Walker (R-N.C.), chairman of the Republican Study Committee, estimated in the afternoon that the whip count for the short-term funding bill was "somewhere between 210 and 215" votes. Leadership can only afford to lose 21 Republican votes and pass the funding bill without Democratic support, according to the majority whip's office. The House CR, which would fund the government through Feb. 16, includes a six-year extension of funding for the Children's Health Insurance Program (CHIP). It would also delay three ObamaCare taxes, something that was added to attract more conservative support. "There's still some work to do, but I think it will pass," Rep. Tom Cole (R-Okla.), a top appropriator, said Wednesday. Passage of the bill would shift pressure from House Republicans to Senate Democrats in the shutdown fight. While Senate Democrats have been taking a tough line, it could be hard for the party to block a bill that was passed out of the House and includes CHIP funding. The Hill's Melanie Zanona has the latest on the spending talks: http://bit.ly/2mNBEMk White House backs short-term spending bill: The White House supports a stopgap spending bill to prevent a government shutdown, press secretary Sarah Huckabee Sanders said Wednesday. "We do support the short-term [continuing resolution]," Sanders told reporters. The spokeswoman was asked about a plan floated by House Republican leaders that would keep the government open through Feb. 16 and fund the popular Children's Health Insurance Program (CHIP) for six years. Sanders said the plan is "not our first choice" because the president wants a two-year funding agreement. But President Trump does want to prevent a government shutdown, Sanders said. The Hill's Jordan Fabian reports: http://bit.ly/2DfbKqX. But the measure could have a tough time in the Senate... Graham to oppose short-term House funding measure: Sen. Lindsey Graham (R-S.C.) is coming out against a House plan to prevent a shutdown and keep the government open past Friday. Graham told reporters on Wednesday that he is a "no" on the bill, which would fund the government through mid-February. "There's four of them. Eventually you've got to say no. I don't want to shut the government down, but you know it's killing the military," he said of the short-term funding bill, known as a continuing resolution (CR). The South Carolina Republican added that "it's the worst way in the world to run the military and the government in general." Graham's decision means Senate Majority Leader Mitch McConnell (R-Ky.) will need 10 Democratic votes to prevent a shutdown. McConnell could need even more help if perennial "no" votes, including GOP Sens. Rand Paul (Ky.) and Mike Lee (Utah), don't swap their positions. The Hill's Jordain Carney explains: http://bit.ly/2Df6qE1. Schumer: Senate Dems broadly opposed to House funding bill: Senate Minority Leader Charles Schumer (D-N.Y.) is warning that Democrats are widely opposed to the current House plan to fund the government, but he stopped short of saying his caucus would withhold help on getting to 60 votes. "The revulsion toward that bill was broad and strong. ... We hope to avoid [a shutdown] ... but if we don't, it's going to fall on their backs," Schumer told reporters, referring to Republicans and the White House, when asked how many Democratic senators would oppose the House plan. He added that "the overwhelming number in our caucus have said they don't like this deal ... so there's very, very strong support to not go along with their deal." http://bit.ly/2Dd86O5. There's more on the effort to avoid a government shutdown below. Consumer bureau asks for complaints about agency practices ahead of major shake-up: The Consumer Financial Protection Bureau (CFPB) is asking the firms its regulates to submit complaints about the agency's core actions. The CFPB announced Wednesday that the agency will ask "for evidence to ensure the bureau is fulfilling its proper and appropriate functions to best protect consumers." The request is the latest step forward in acting Director Mick Mulvaney's effort to draw back the bureau's aggressive regulatory and enforcement actions. Mulvaney said in a Wednesday statement that it's "natural for the Bureau to critically examine its policies and practices to ensure they align with the Bureau's statutory mandate." "Moving forward, the Bureau will consistently seek out constructive feedback and welcome ideas for improvement," Mulvaney said. "Much can be done to facilitate greater consumer choice and efficient markets, while vigorously enforcing consumer financial law in a way that guarantees due process." I'll tell you what's ahead: http://bit.ly/2DfbKqX.
Happy Wednesday and welcome back to Overnight Finance. I'm Sylvan Lane, and here's your nightly guide to everything affecting your bills, bank account and bottom line.
See something I missed? Let me know at slane@thehill.com or tweet me @SylvanLane. And if you like your newsletter, you can subscribe to it here: http://bit.ly/1NxxW2N. House conservatives demand vote on tough border bill to avoid shutdown: Members of the far-right House Freedom Caucus also made an eleventh-hour bid to get a floor vote on a conservative immigration bill in exchange for their support on a short-term spending bill, as GOP leaders scramble to secure Republican votes for their proposal to avoid a government shutdown Friday. While Republican leaders sounded fairly confident Wednesday morning that they would have enough GOP support to pass the continuing resolution (CR), they have little room for error, as Democrats are vowing to oppose any spending bill that doesn't include relief for immigrants who came to the United States illegally as children. Speaker Paul Ryan (R-Wis.) and his top lieutenants are threading a very thin needle as they try to build support among frustrated defense hawks and conservatives for the fourth temporary funding patch since September. And the House Freedom Caucus, a group of roughly 30 conservative hard-liners, has enough members to defeat legislation if they band together: http://bit.ly/2DfPn4s. More Dem senators announce they'll oppose funding bill over immigration fight: Two Democratic senators said on Wednesday that they will oppose a House plan to fund the government, creating an increasingly uphill path in that chamber. Democratic Sens. Martin Heinrich (N.M) and Tom Udall (N.M.) said in separate statements that they would not support the short-term bill and urged Republicans to come to the table on a bipartisan deal on the Deferred Action for Childhood Arrivals (DACA) program. "This is no way to govern. I am not willing to leave these bipartisan priorities behind and vote for a bill that gives President Trump and congressional Republicans more time to hold the country hostage," Heinrich said. He argued that Republicans must either "accept the bipartisanship deal that is on the table, or turn their backs on the American people." Udall added that the House bill is "irresponsible" and Congress must "stop kicking the can down the road." http://bit.ly/2DdNyFh. Senate Dems push for health center funding in spending bill: Senate Democrats are also pushing for additional health-care measures like funding for community health centers to be included in a short-term funding bill. Sen. Ron Wyden (Ore.), the top Democrat on the Senate Finance Committee, said at a press conference with Democratic leaders on Wednesday that he wanted the community health center funding added, as well as an extension of programs for home visits from nurses and for rural healthcare. He argued it was wrong for Republicans to include delays of ObamaCare taxes, such as the health insurance tax, without addressing those programs. "We feel really strongly about community health centers, visiting nurses, rural health extenders being left out and yet a big corporation like UnitedHealth will benefit from the health insurance [tax] delay," Wyden said. "All those folks got big relief at the end of the year [in the tax-reform bill]." http://bit.ly/2DgWjOL. Cordray blasts consumer bureau's 'pseudo-leaders' over payday loan rule review: The former director of the Consumer Financial Protection Bureau (CFPB) blasted his successor in a series of tweets Wednesday for attempting to unwind the agency's rule on payday lending. Richard Cordray, the bureau's first director, panned the CFPB's plans as "truly shameful action by the interim pseudo-leaders" of the bureau, now overseen by Acting Director Mick Mulvaney. "Let's see the case be made, with full debate, on whether the zealots and toadies can justify repealing a rule to protect consumers against extortionate payday loans," Cordray continued. "Whenever the public has voted on this issue, it has always overwhelmingly sided against payday lenders." Cordray also called on President Trump to explain his opinion on the CFPB rule. "Where's @realDonaldTrump on protecting consumers against debt trap loans made at 391% interest rates or even higher?," Cordray tweeted: http://bit.ly/2Dc4D2j. Poll: Support for Trump tax law increasing: Support for the new tax law is increasing, according to a new poll, though it still isn't favored by a majority. The poll, conducted for The New York Times, found that 46 percent of respondents strongly or somewhat support the plan, up from 37 percent in December. There is a strong partisan divide over the new law, with 86 percent of Republicans approving of it but only 13 percent of Democrats doing so, the Times reported. An increasing number of people said they think they are going to get a tax cut under the new law, but more than half still think that they will not. Forty-one percent said they expect to see their taxes go down, compared to 33 percent last month. Fifty-five percent now say they don't anticipate receiving a cut, down from 63 percent in December. The Urban–Brookings Tax Policy Center has estimated that about 80 percent of taxpayers will see a tax cut this year: http://bit.ly/2DgoQnA. Republican senator puts hold on Trump's trade nominees: A Republican senator put a hold on all of President Trump's trade nominees until U.S. Trade Representative Robert Lighthizer is more responsive to his concerns. Sen. Tim Scott of South Carolina said Wednesday during a nomination hearing for two of Trump's trade nominees that he won't vote on anyone in the "trade space" until Lighthizer responds to his call about a trade-related issue in his state. "The reality of it is, I don't ask for much," Scott said during the Senate Finance Committee confirmation hearing. "You can not call me back but you cannot disrespect the companies and the trading partner that is South Carolina," he continued. "And without more responsiveness and without a commitment for more responsiveness I will not be voting for any nominees in the trade space." USTR conceded there was some miscommunication and moved to resolve the issue with Scott after the hearing. "Apparently there was a communications breakdown in our office and Amb. Lighthizer did not know Sen. Scott had requested a call," a USTR spokesperson told The Hill. Vicki Needham reports: http://bit.ly/2Dirj13. Survey: Few big companies planning wage hikes after GOP tax plan: Few large companies are planning to reward workers with bonuses or wage hikes as a result of the passage of the Republican tax plan in December, despite a few high-profile announcements, according to a CNBC survey. The survey, published Wednesday, contacted the companies that make up the S&P 100 to determine which would boost worker pay, provide bonuses, or increase domestic investment in direct response to the Trump-backed tax reform. Out of the 100 companies, just 9 responded affirmatively saying that they would use the money saved from corporate tax cuts to increase worker pay or invest in charitable causes: http://bit.ly/2Di92kA. | 
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