On The Money: US files trade complaints at WTO | House leaders get deal to boost biz investment | Mnuchin says US will consider Iran sanctions waivers | FCC deals blow to Sinclair-Tribune merger

View in your browser     Happy Monday and welcome back to On The Money, where we're still trying to wrap our heads around what happened in Helsinki today. 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. Write us with tips, suggestions and news: slane@thehill.com, vneedham@thehill.com, njagoda@thehill.com and nelis@thehill.com. Follow us on Twitter: @SylvanLane, @VickofTheHill, @NJagoda and @NivElis.   THE BIG DEAL--U.S. files complaints against trading partners: The United States on Monday launched five separate trade disputes at the World Trade Organization (WTO) challenging trade partners' retaliatory tariffs. U.S. Trade Representative Robert Lighthizer said the U.S. is filing cases against China, the European Union, Canada, Mexico and Turkey after each imposed new tariffs on U.S. exports in response to President Trump slapping steep tariffs on aluminum and steel over national security interests. "The actions taken by the president are wholly legitimate and fully justified as a matter of U.S. law and international trade rules," Lighthizer said in a statement. "Instead of working with us to address a common problem, some of our trading partners have elected to respond with retaliatory tariffs designed to punish American workers, farmers and companies," he said. Lighthizer said that the retaliatory tariffs "appear to breach" WTO rules. The Hill's Vicki Needham explains why here. China also filed a complaint against the U.S at the WTO on Monday, challenging Trump's proposed tariffs on $200 billion in Chinese goods.   ON TAP TOMORROW Federal Reserve Chairman Jerome Powell testifies before the Senate Banking Committee on the Fed's semiannual monetary policy report, 10 a.m. While the hearing is intended to be focused on the Fed's semiannual monetary policy report, Powell is almost certain to face questions about the economic impact of mounting trade tensions. House Financial Services Committee: Hearing entitled "Examining Capital Regimes for Financial Institutions," 2 p.m.   LEADING THE DAY Mnuchin says US will consider waivers for Iran oil sanctions: Treasury Secretary Steven Mnuchin reportedly said the Trump administration would consider temporarily exempting some countries from reimposed sanctions on Iranian oil imports. Mnuchin told reporters in Mexico on Friday that the administration would consider granting sanctions waivers to countries struggling to wind down imports of Iranian oil before the penalties take effect on Nov. 4, according to Reuters "We want people to reduce oil purchases to zero, but in certain cases if people can't do that overnight, we'll consider exceptions," Mnuchin said. The Trump administration has begun the process of imposing economic sanctions on Iran that were suspended under the 2015 Iran nuclear weapons agreement signed by former President Obama. The agreement, which is not a formal treaty ratified by Congress, gave Iran relief from economic sanctions for scaling back its nuclear weapons capabilities. Mnuchin said that the U.S. wouldn't issue blanket waivers, but would be flexible in cases where imposing sanctions could do major economic damage. "We want to be very careful in the wind-down around the energy markets to make sure that people have the time," Mnuchin said, according to Reuters. I've got more on his comments here. House leaders strike bipartisan deal to boost business investment: The leaders of the House Financial Services Committee on Monday unveiled the details of a legislative package meant to boost investment in budding U.S. businesses. Reps. Jeb Hensarling (R-Texas) and Maxine Waters (D-Calif.), the chairman and ranking member, respectively, said Monday that they had agreed to combine 32 bills previously passed by their committee into a single measure. The package is intended to give small businesses and startups a cheaper and easier pathway to going public and fuel growth. Each bill in the agreement dubbed the JOBS and Investor Confidence Act passed the House or Financial Services panel with almost no resistance. The House is scheduled to vote on the package Tuesday and will likely pass the measure with little opposition. Senate leaders have pledged to hold a vote on the package, according to Hensarling, but it's unclear if and when that will happen. The bill would also need the support of at least 10 Senate Democrats to pass if all GOP senators support it, which could potentially sink the package. I'll tell you more about what's inside the deal and how it happened here.   MARKET CHECK: CNBC: "The major stock indexes, meanwhile, struggled for gains for most of the session as other large U.S. companies released their quarterly results. "The Dow Jones Industrial Average rose just 44.95 points to 25,064.36 with Caterpillar, Johnson & Johnson and Exxon Mobil as the biggest laggards and J.P. Morgan Chase outperforming. The S&P 500 slipped 0.1 percent to 2,798.43 as a decline in energy stocks offset gains in financials. The Nasdaq Composite closed 0.3 percent lower at 7,805.72 as Amazon gave back most of its gains."   GOOD TO KNOW Federal Communications Commission (FCC) Chairman Ajit Pai said Monday that he has "serious concerns" about the proposed merger between Sinclair Broadcast Group and Tribune Media, a surprising move that could likely kill the controversial $3.9 billion deal. The Senate Finance Committee will hold a vote Thursday on the nomination of Charles Rettig to be commissioner of the Internal Revenue Service. China's strong topline growth numbers hide several serious threats to the country's sustained economic success, according to The New York Times. Sen. Ron Wyden (D-Ore.) asked the Justice Department on Monday to begin a criminal investigation into Commerce Secretary Wilbur Ross' financial dealings, according to the Washington Examiner. Most U.S. business economists expect corporate sales to grow over the next three months and hiring and pay to rise with them, according to the AP. A study from the Urban Institute found that the homeownership rate for millennials was 37 percent in 2015, roughly eight percentage points lower than that of the two previous generations at the same age (25 – 34). Economists are struggling to understand why productivity gains have recently been limited to the largest, most powerful corporations and haven't spread to smaller firms, according to The Wall Street Journal.   ODDS AND ENDS Koch Industries on Monday offered support for a House resolution that would oppose any carbon tax. New York state is launching an investigation into Jared Kushner's family real estate business after a report revealed allegations of tenant harassment at one of its properties.           Did a friend forward you this email? 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Hillicon Valley: Trump denies Russian meddling at presser with Putin | Republicans join in criticism of Trump | FCC chief rejects Sinclair-Tribune merger | Uber faces gender discrimination probe | Social media execs headed to Capitol

View in Browser     Welcome to Hillicon Valley, The Hill's newsletter detailing all you need to know about the tech and cyber news from Capitol Hill to Silicon Valley. Welcome! Follow the cyber team, Olivia Beavers (@olivia_beavers) and Morgan Chalfant (@mchalfant16), and the tech team, Harper Neidig (@hneidig) and Ali Breland (@alibreland).   TRUMP REFUSES TO DENOUNCE RUSSIAN ELECTION MEDDLING: President Trump on Monday downplayed Moscow's interference in the 2016 presidential election and criticized the special counsel investigation -- all while standing alongside Russian President Vladimir Putin at a press conference following their meeting in Helsinki. In an extraordinary scene broadcast live to a worldwide audience, Trump refused when asked to condemn Russia's meddling in the election and complained instead that the allegations have created doubts about the legitimacy of his win over Democrat Hillary Clinton. "He just said it's not Russia," repeating Putin's denials of involvement in the U.S. election. "I will say this, I don't see any reason why it would be." The president said he ran a "clean campaign" and beat Clinton "easily." "I won that race and it's a shame there can even be a little bit of a cloud over it," he said. "We ran a brilliant campaign and that's why I'm president." Trump reiterated his claim that special counsel Robert Mueller has unearthed "no collusion" between his campaign and the Kremlin and complained the FBI had not examined servers belonging to the Clinton campaign and brought up emails belonging to Clinton. "What happened to the server?" the president asked. "What happened to the Clinton emails?" The meeting Monday came just days after Mueller indicted 12 Russian intelligence officers for launching cyberattacks against the DNC and state election systems in an effort to meddle in the election. Read more here.   WE'VE HEARD THIS BEFORE: PUTIN DENIES MEDDLING IN US ELECTION: Putin also denied that his country interfered in the 2016 U.S. elections during his talks with Trump. Speaking during the press conference following their joint meeting in Finland, Putin said Trump raised the issue of so-called election interference but reiterated his past denials.   "I had to reiterate things I said several times, including during our personal contacts, that the Russian state has never interfered and is not going to interfere into internal American affairs including election process," Putin said through a translator. "Any specific material, if such things arise, we are ready to analyze together." He went on to suggest Russia would be ready to collaborate with U.S. officials on a "joint working group on cybersecurity." Read more here.   TRUMP'S REMARKS SPARKED PUSHBACK FROM REPUBLICANS: Speaker Paul Ryan (R-Wis.) on Monday said there's "no question" Russia interfered in the 2016 U.S. election. "There is no question that Russia interfered in our election and continues attempts to undermine democracy here and around the world," Ryan said in a statement. "That is not just the finding of the American intelligence community but also the House Committee on Intelligence. The president must appreciate that Russia is not our ally. "There is no moral equivalence between the United States and Russia, which remains hostile to our most basic values and ideals," he continued. "The United States must be focused on holding Russia accountable and putting an end to its vile attacks on democracy." More here.   SCHUMER WONDERS IF PUTIN HAS 'DAMAGING' INFO ON TRUMP: Senate Minority Leader Charles Schumer (D-N.Y.) said in a statement that Trump's performance leaves "a single, ominous question ... over the White House." "What could possibly cause President Trump to put the interests of Russia over those of the United States? Millions of Americans will continue to wonder if the only possible explanation for this dangerous behavior is the possibility that President Putin holds damaging information over President Trump," Schumer said. Read more here.   COATS COUNTERS: The top U.S. intelligence official on Monday offered a robust defense of the intelligence community's assessment of Russian meddling in the 2016 election, after Trump cast doubt on the conclusion. Dan Coats, whom Trump handpicked to serve as Director of National Intelligence, said the intelligence community has been "clear" in its assessment of Russian meddling and described Russian efforts to undermine U.S. democracy as "ongoing" and "pervasive." Coats also emphasized that the intelligence community's assessments are "fact-based." "We have been clear in our assessments of Russian meddling in the 2016 election and their ongoing, pervasive efforts to undermine our democracy, and we will continue to provide unvarnished and objective intelligence in support of our national security," Coats said in a statement issued Monday afternoon. Read more here.   More on the surreal presser: The Hill's Niall Stanage has five takeaways from the jaw-dropping press conference. Trump faced criticism from both sides of the aisle for the remarks, including from Sen. John McCain (R-Ariz.), who called the performance "disgraceful." Trump later fired back at critics via Twitter.   BAD NEWS FOR SINCLAIR-TRIBUNE MERGER: Federal Communications Commission (FCC) Chairman Ajit Pai said Monday that he has "serious concerns" about the proposed merger between Sinclair Broadcast Group and Tribune Media, a surprising move that could likely kill the controversial $3.9 billion deal. In a statement, Pai questioned the company's plans to get the deal approved by selling off some television stations and said he would propose sending the deal to be reviewed by an administrative law judge. "The evidence we've received suggests that certain station divestitures that have been proposed to the FCC would allow Sinclair to control those stations in practice, even if not in name, in violation of the law," Pai said. Why this could be bad for the merger: The move toward an administrative law proceeding is a likely step toward killing the merger altogether. In 2011, AT&T and T-Mobile withdrew a merger application after then-FCC Chairman Julius Genachowski circulated a similar proposal to the commission. The Sinclair-Tribune deal would have given the combined media company the ability to reach nearly three-quarters of the country's television-viewing audience, putting it over the top of the legal limit on serving 39 percent of households. In order to bring the merger in compliance with the ownership limit, the two companies agreed to divest 23 local television stations around the country. But some of those sales would still leave Sinclair with a degree of control over the stations' operations. Critics said the sidecar deals were an effort to evade the law while still allowing Sinclair, a right-leaning broadcaster, to spread conservative and pro-President Trump programming. "I think Sinclair has been disingenuous about divestitures for months now," Gigi Sohn, who served as an adviser to Democratic former FCC Chairman Tom Wheeler, told The Hill in an interview. "I think the last filing didn't satisfy anybody that Sinclair wasn't going to still have some control over these stations." Sinclair didn't immediately respond to a request for comment from The Hill. Monday's move was a shocking blow to a merger that many expected to be approved. Read more here.   PRESERVE YOUR DIGITAL DOCS: House lawmakers on Monday afternoon passed legislation aimed at boosting federal record preservation. The bill, called the Electronic Message Preservation Act of 2017, would direct the national archivist to create regulations requiring federal agencies to capture and preserve electronic records and to make those records "retrievable" through electronic searches. It was introduced by Rep. Elijah Cummings (D-Md.), the top Democrat on the Oversight Committee, last year. Lawmakers approved the bill in a voice vote Monday afternoon.   FACEBOOK, TWITTER, YOUTUBE TO TESTIFY BEFORE HOUSE PANEL: Top public policy officials from Facebook, Twitter and Alphabet's YouTube division are set to testify before Congress on Tuesday to determine whether the companies were politically motivated in filtering content on their platforms. GOP lawmakers have taken aim at the social media giants for what they have charged are politically biased practices in the content each site chooses to remove. The companies have denied such claims. The companies will send their top public policy officials to testify before the House Judiciary Committee, including Facebook's head of global policy, Monika Bickert; YouTube's head of global public policy and government relations, Juniper Downs; and Twitter's senior public policy strategist Nick Pickles, according to the committee. Google spokeswoman Charlotte Smith and a spokesperson from Facebook both confirmed to The Hill that they would send representatives to the hearing. Twitter did not comment. Read more here.   UBER'S NEW HEADACHE: Uber is being investigated by the federal government over allegations of gender pay discrimination, reports The Wall Street Journal. The Equal Employment Opportunity Commission's probe reportedly started in August. The agency has been speaking with current and former employees of the company. Investigators have been asking questions about hiring practices, pay disparity and other gender-related issues, according to the report.   TWITTER SUSPENDS ALLEGED RUSSIAN LEAKERS: Twitter has suspended two accounts allegedly used by Russian intelligence officers to share information obtained in hacks. The Guccifer 2.0 and DCLeaks accounts were both suspended on Saturday, one day after special counsel Robert Mueller alleged in an indictment that the accounts were run by Russian military officers. A Twitter spokesman told The San Diego Union-Tribune that the "account has been suspended for being connected to a network of accounts previously suspended for operating in violation of our rules." He did not comment further. The Guccifer 2.0 account was briefly suspended in 2016 after it released contact information for nearly 200 current and former members of Congress. Both accounts have been inactive for at least 18 months.   ON TAP: Rep. Mike Coffman (R-Colo.) will speak at an event hosted by Incompas and Engine about the "Future of Net Neutrality" at 9 a.m. The House Judiciary Committee is holding a hearing on "Facebook, Google and Twitter: Examining the Content Filtering Practices of Social Media Giants" at 10 a.m. Rep. Bennie Thompson (D-Miss.), the top Democrat on the House Homeland Security Committee, is sponsoring a congressional panel on healthcare cybersecurity at 11 a.m.   A LIGHTER TWITTER CLICK: No comment.   SOME OP-EDS TO CHEW ON: Trump and Putin should be talking about cyber weapons and social media instead of nuclear weapons. Russia proved it is the greatest threat to our democracy.   NOTABLE LINKS FROM AROUND THE WEB: Illinois' elections board requests confirmation Mueller identified hackers in data breach. (The Hill) The FBI official in charge of the bureau's election interference task force has left. (The Wall Street Journal) Russian trolls are deploying some new tactics. (Associated Press) How wireless carriers get permission to share your whereabouts. (The Wall Street Journal) Elon Musk donated nearly $40K to Republican PAC, filings show (The Hill) Why some of Instagram's biggest memers are locking their accounts (The Atlantic)         Did a friend forward you this email? Sign up for Technology Newsletters     Forward Technology Newsletters       Privacy Policy  |  Manage Subscriptions  |  Unsubscribe  |  Email to a friend  |  Sign Up for Other Newsletters   The Hill 1625 K Street, NW 9th Floor, Washington DC 20006 ©2018 Capitol Hill Publishing Corp., a subsidiary of News Communications, Inc.

Overnight Energy: Koch Industries backs measure opposing carbon taxes | Lawmakers look to Interior budget to block offshore drilling | EPA defends FOIA process

View in your browser     KOCH INDUSTRIES BACKS MEASURE OPPOSING CARBON TAXES: Koch Industries on Monday offered support for a House resolution that would oppose any carbon tax. In a letter to House lawmakers supporting the measure, Koch takes a clear stance that Congress should denounce potential taxes on carbon dioxide emissions. The company's president of government and public affairs, Philip Ellender, urges support for the GOP-backed resolution that would make clear that "a carbon tax would be detrimental to the American economy." "Rather than imposing a carbon tax that would ultimately hurt the very people it is trying to protect, it is important that the government allow energy innovation to progress in line with market demand," Ellender wrote. "At a time when more American families are feeling the benefits of tax reform and a strong, pro-growth economic agenda championed by Congress and the administration, it is important to keep the momentum at full speed." The House is set to vote this week on the measure, which would condemn the idea of a carbon tax. The legislation would ultimately be nonbinding. The resolution was introduced by House Majority Whip Steve Scalise (R-La.) and Rep. David McKinley (R-W.Va.) in April, and would say that a tax on carbon dioxide emissions "would be detrimental to American families and businesses, and is not in the best interest of the United States." "A carbon tax would make energy more expensive and raise the costs of consumer products and services on which people depend," Ellender said in his letter. "It would also make U.S. producers less cost competitive, driving production and jobs to other parts of the world." The stakes: Carbon taxes have long been supported by many Democrats and environmentalists as a way to discourage the use of fuels that contribute to climate change. But lately, some conservative economists have also backed the idea. Read more here. Read more about the bill.   Happy Monday! Welcome to Overnight Energy, The Hill's roundup of the latest energy and environment news. Please send tips and comments to Timothy Cama, tcama@thehill.com, and Miranda Green, mgreen@thehill.com. Follow us on Twitter: @Timothy_Cama, @mirandacgreen, @thehill.   SPENDING BILL AMENDMENTS WOULD BLOCK OFFSHORE DRILLING: House lawmakers in both parties are hoping to use a spending bill to block offshore oil and natural gas drilling in the waterways off their states' coasts. A handful of lawmakers, mainly from coastal states, are sponsoring proposed amendments to the annual appropriations bill for the Interior Department and the Environmental Protection Agency (EPA) that would block Interior funding to allow drilling in particular areas. The full House is set to vote on the funding measure this week. Why now: The amendments match with the bipartisan opposition in many coastal states to the Trump administration's controversial January proposal to allow oil and gas drilling along nearly the entirety of the United States' coasts, including the Atlantic and Pacific oceans, the Gulf of Mexico and all around Alaska. The proposed amendments would block Interior from issuing drilling rights leases along the entire Atlantic and Pacific coasts and the eastern Gulf of Mexico, which touches Florida. One such proposal from a bipartisan group of nine lawmakers, led by Reps. Jared Huffman (D-Calif.) and Dave Reichert (R-Wash.), would block drilling and leasing from the entire Pacific coast. "Protecting our coastal communities, local economies, and fragile ocean ecosystems should not be a partisan issue," Huffman said in a statement, adding that he's "grateful to Rep. Reichert for joining our bipartisan amendment to block President Trump's planned oil and gas drilling off of our Pacific coast, which reflects the unified opposition of the Governors of Washington, Oregon, and California." In his own statement, Reichert said he's "deeply concerned" about Trump's proposal for Pacific coast drilling. "Drilling off our coasts has the potential to have a negative lasting effect on our oceans and shorelines," he said. "Our country is at the forefront of developing efficient and cost effective alternative energy technologies and we should continue to support innovation in this area." Read more.   EPA DEFENDS FOIA POLICY: A top attorney at the Environmental Protection Agency (EPA) is defending the agency's handling of Freedom of Information Act (FOIA) requests after criticisms from a key House Democrat. Kevin Minoli, the EPA's principal deputy general counsel, argued in a Sunday letter to Rep. Elijah Cummings (D-Md.) that the changes made to the FOIA program in recent years help both EPA employees and people seeking public records and that they do not hinder the process. Background: The EPA started in 2013, under the Obama administration, to implement a FOIA Expert Assistance Team (FEAT) to handle complex or high-profile requests. After Ryan Jackson, chief of staff to acting EPA Administrator Andrew Wheeler, told investigators with the House Oversight and Government Reform Committee that certain FOIA requests were put under more intense scrutiny because they were "politically charged," Cummings, the panel's top Democrat, accused the EPA of impeding requests. But Minoli said that's not the case. "The purpose of the FEAT was to provide strategic direction and project management assistance on the most challenging or complex FOIA requests," he said of the 2013 foundation of the team. Read more here.   PUTIN SEES 'SPACE FOR COOPERATION' ON SOARING GAS PRICES': Russian President Vladimir Putin said there's "a space for cooperation" between the U.S. and Russia when it comes to lowering gas prices. Speaking at a joint press conference with President Trump on Monday in Helsinki, Putin tamped down accusations that Russia has been arbitrarily raising gas prices and said the U.S. and Russia "can work together" to determine the right pricing for Russia's Liquid and Natural Gas (LNG) exports. He added that Trump is aware of Russia's need to keep prices from dropping. "We can work together on the regulation of oil and gas international markets because neither of us is actually interested in the plummeting of the prices -- and the consumers will suffer as well -- the shale gas will suffer," Putin said. "Beyond a price bracket, it is no longer profitable to produce oil and gas, but also we are not interested in driving prices up." Gas prices have soared in the U.S. in recent months, getting close to an all-time high that topped $100 a barrel in 2014. This past Memorial Day weekend saw the most expensive gas prices nationally since 2014, according to the American Automobile Association. A number of factors including orchestrated oil production cuts by Russia and OPEC as well as the U.S.'s decision to leave the Iran nuclear deal could contribute to the costs of gas climbing higher. The price surge has led a number of lawmakers to push Trump to put more pressure on world leaders to increase production of oil. "If the president wants to take action, he can," Senate Democratic Leader Charles Schumer (N.Y.) said. "One: OPEC. He's very, very tight with the crown prince [of Saudi Arabia]. He's very, very tight with the head of [United Arab Emirates]. Read more here.   ON TAP TUESDAY: The Senate's Environment and Public Works Committee will consider amendments to the Endangered Species Act -- a decades old law that Republicans have increasingly challenged as too restrictive to industry. The main bill to be considered was unveiled by Chairman John Barrasso (R-Wyo.) earlier this month. The Senate's Energy and Natural Resources Committee will discuss the Interior Department's final list of critical minerals for 2018. An area of disagreement will likely stem from proposals to add uranium to the list. The House Natural Resources Committee's subcommittee on federal land will hold a hearing on eight bills in its jurisdiction. The House Oversight and Government Reform Committee's subcommittee on Interior will hold a hearing on tribal energy resources. The House Science Committee's subcommittees on energy and environment will hold a hearing on the future of fossil fuels.   OUTSIDE THE BELTWAY: A federal appeals court ruled that the U.S. Geological Survey isn't responsible for the death of a helicopter pilot who flew into an overhead cable the agency owns, the Arizona Daily Sun reports. Rumors about potential releases from the United States' federal oil stockpile helped send oil prices plunging Monday, CNNMoney reports. An investment group announced plans Monday for a 7,100-acre solar farm on federal land in Nevada, KSNV reports.   IN CASE YOU MISSED IT: Check out stories from Monday and the weekend ... -Koch backs House measure opposing carbon taxes -EPA defends FOIA policy after criticism -Putin on high gas prices: There is 'space for cooperation here' -Lawmakers aim to use spending bill to block offshore drilling -WeWork will stop serving meat at company events in effort to reduce environmental impact -Adidas to only use recycled plastics in its products by 2024 -New EPA chief draws sharp contrast to Pruitt         Did a friend forward you this email? Sign up for Energy Newsletters     Forward Energy Newsletters       Privacy Policy  |  Manage Subscriptions  |  Unsubscribe  |  Email to a friend  |  Sign Up for Other Newsletters   The Hill 1625 K Street, NW 9th Floor, Washington DC 20006 ©2018 Capitol Hill Publishing Corp., a subsidiary of News Communications, Inc.