On tap tomorrow LEADING THE DAY Trump says Kudlow has good shot to replace Cohn: President Trump on Tuesday said Larry Kudlow has a good chance of taking the helm of the White House's National Economic Council. Trump told reporters ahead of a trip to California that he is taking a hard look at Kudlow to replace former top economic adviser Gary Cohn. "I'm looking at Larry Kudlow very strongly," he told reporters on the South Lawn. "I've known him a long time. We don't agree on everything," he said. "But in this case, I think that's good." Trump, who argued he wants differing opinions in the White House, said Kudlow has "come around to believing in tariffs as also a negotiating point." "I'm renegotiating great deals. Without tariffs, we wouldn't do nearly as well." The Hill's Vicki Needham looks into how that dynamic might work out. McConnell shoots down vote against Trump tariffs: Senate Majority Leader Mitch McConnell (R-Ky.) indicated Tuesday that the Senate won't try to use legislation to halt President Trump's steel and aluminum tariffs, noting it's improbable the president would sign such a bill. "I like to use floor time in the Senate for things that actually have a chance to become law. ... I think it's highly unlikely we would be dealing with that in a legislative way," McConnell said. Trump announced late last week that he would slap steep tariffs on imported steel and aluminum despite days of public pleas and frantic behind-the-scenes work from congressional Republicans for him to back down. GOP Sen. Jeff Flake (Ariz.) introduced legislation on Monday to nullify the tariffs. But any bill would face an uphill battle given that it would either need Trump's signature or enough support to override a veto. The Hill's Jordain Carney has more. K Street shake-up: The Financial Services Roundtable (FSR) and the Clearing House Association, two major finance industry advocacy groups, are combining. The announcement comes one month after FSR's chief executive, former Minnesota Gov. Tim Pawlenty, announced that he would be stepping down from the organization. Pawlenty is considering another run for governor. The merged entity will have a new name that has not yet been decided, according to FSR. A spokeswoman told The Hill that discussions about the merger have been occurring for a "short time," but would not provide a specific date. Greg Baer, the president of the Clearing House Association, will helm the new group. While the two groups complete the merger, Chris Feeney, who leads FSR's technology policy division, will serve as the group's interim chief executive. Bank of America CEO Brian Moynihan, who chairs FSR's board of directors, said that the organizations -- which have some overlapping members -- "will be stronger together." Elizabeth's warrin': The Senate Democratic Conference is splitting apart in an angry debate over a banking reform bill that has ended months of party unity in opposition to President Trump's agenda. Sen. Elizabeth Warren (D-Mass.), the Senate's most vocal Wall Street watchdog, is taking a hard line against the bill and drawing complaints from moderate Democratic colleagues who support the bill and worry she's putting them in a tough political position. The Hill's Alexander Bolton takes us inside the battle within the Democratic Party. MARKET CHECK: Tense. All three major U.S stock indexes closed with losses today, spurred by falling tech shares and the abrupt firing of Secretary of State Rex Tillerson. The Dow Jones industrial and the Standard and Poor's 500 index fell by 0.7 percent, while the tech-heavy Nasdaq lost 1 percent. GOOD TO KNOW - Last February's budget deficit was the biggest since 2012, the Treasury Department announced Tuesday.
- House Minority Whip Steny Hoyer (D-Md.) said Tuesday that Democrats are pushing for a sweeping government spending package that excludes all extraneous provisions -- even those that Democrats want.
- GOP Sens. Steve Daines (Mont.) and Ted Cruz (Texas) urged lawmakers not to add online sales tax legislation to an omnibus spending bill, arguing that doing so would hurt small businesses.
- The new Republican tax law boosted confidence among the nation's top CEOs to a 15-year high in the first three months of the year, according to a new survey released on Tuesday.
- The United States spent twice as much on health care than ten other high-income countries in 2016, largely because of the high costs of prescription drugs, administrative overhead and labor, according to a study released Tuesday.
- U.S. farmers voiced their opposition to President Trump's recently announced tariffs on steel and aluminum imports in an ad set to run for at least the next month on morning news programs that Trump is known to watch.
ODDS AND ENDS - Politico talks to "the financial whisperer to Trump's America" about the economic anxiety behind the shifting political winds.
- The makers of Four Loko, the alcoholic energy drink feared by parents of millenials across the country, think Amazon should open its new office in D.C. because the district has the best late night eats in the country. Overnight Finance does not endorse these findings.
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