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2019年2月8日 星期五

On The Money: Negotiators discussing border funding lower than Trump's demand | Amazon reconsiders HQ2 move to New York City | Early IRS numbers point to smaller average refunds

 
 
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On the Money - The Hill Finance
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Happy Friday and welcome back to On The Money. 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--Lawmakers haggling over border dollars much lower than Trump's demand: Lawmakers seeking a deal on border security that would avert a second partial government shutdown are haggling over figures below President Trump's demand for $5.7 billion in funding for a wall on the Mexican border.

Republican negotiators are pushing for $2 billion or more in funding, while Democrats say they hope the figure will not go above $1.6 billion.

Just as important are specifications for how funds can be spent, with Democrats pushing for specific restrictions on what kinds of barriers could be built and where.

"I want the highest possible number we can get, but I would hope it would be north of" $2 billion, said Rep. Chuck Fleischmann (R-Tenn.), a member of the bipartisan negotiating committee. The Hill's Niv Elis fills us in here.

 

The details

  • Lawmakers face a Feb. 15 deadline to reach a deal and are working through the weekend to try to get one in place by Monday, which would give the House and Senate enough time to pass a bill before funds for parts of the government would run out.
  • Trump has largely allowed talks to proceed unimpeded, but negotiators are concerned that he will dismiss the final result as insufficient.
  • At that point, they worry, he could allow the government to shut down for the second time this year or declare a national emergency to circumvent Congress and build the wall using other funds.



What comes next: The status of negotiations is expected to come up at Camp David Friday evening, where acting White House chief of staff Mick Mulvaney is convening a bipartisan group of lawmakers, including three of the conferees and several Budget Committee members.

Democratic negotiators say they are reviewing the latest offer Republicans sent over on Thursday night, and expect to respond tonight. Though conferees have not yet scheduled another meeting for the weekend, staff negotiations are expected to continue.

 

LEADING THE DAY

Amazon reconsiders bringing HQ2 to New York: Amazon is reportedly reconsidering its plan to build part of its new headquarters in New York City following pushback from area lawmakers and activists.

Two sources familiar with Amazon's plans told The Washington Post that the retail giant is weighing whether it is "worth it" to bring its headquarters to Queens as local politicians and critics, including Rep. Alexandria Ocasio-Cortez (D-N.Y.), drum up anti-Amazon fervor. 

"The question is whether it's worth it if the politicians in New York don't want the project, especially with how people in Virginia and Nashville have been so welcoming," one person familiar with Amazon's plans told the Post.

 

Early IRS numbers point to smaller average refunds his year: Days into this year's tax filing season, people are so far seeing smaller refunds compared to the same period last year, according to early statistics from the Internal Revenue Service (IRS).

The IRS's first weekly report this year of filing-season data found that the average refund amount through Feb. 1 was $1,865 -- 8.4 percent smaller than the average refund last year as of Feb. 2.

There were also fewer taxpayers who filed their returns in the first few days of this year's filing season. The IRS said it received more than 16 million returns as of Feb. 1, down more than 12 million from the same time last year.

Why the numbers matter: The statistics mark an early look at the filing season, which started Jan. 28 and ends in mid-April. Taxpayers who claim certain refundable tax credits won't start receiving refunds until later this month. By law, the IRS can't issue those taxpayers refunds until Feb. 15. This year's filing season will be closely watched, as it's the first year that people's tax filings will reflect many of the changes made in Republicans' 2017 tax law. The Hill's Naomi Jagoda has the story.

 

ON TAP NEXT WEEK

Tuesday:

  • The House Financial Services Committee holds a hearing on the use of financial sanctions and foreign policy, 10 a.m.
  • The House Ways and Means Committee holds a hearing on the rising cost of prescription drug prices, 10 a.m.
  • The American Enterprise Institute hosts a panel discussion entitled "Global financial market risks: Entering unchartered territory," 2 p.m.

 

Wednesday:

  • The House Financial Services Committee holds a hearing on ending the homelessness crisis, 10 a.m.
  • A House Financial Services subcommittee holds a holds a hearing on banking access for cannabis businesses, 2 p.m.

 

Thursday:

  • A House Financial Services subcommittee holds a hearing on affordable housing in rural America, 10 a.m.
  • The Senate Banking Committee holds a confirmation hearing on the nominations of Bimal Patel, of Georgia, to be an assistant secretary of the Treasury; Todd M. Harper to be a member of the National Credit Union Administration Board; Rodney Hood to be a member of the National Credit Union Administration Board; and Mark Calabria to be Director of the Federal Housing Finance Agency, 10 a.m.

 

GOOD TO KNOW

  • Scores of federal workers have not received all of the backpay they're owed from the government shutdown, according to the Washington Post.
  • Major U.S. banks shaved about $21 billion from their tax bills last year -- almost double the IRS's annual budget -- thanks to the Republican tax overhaul, according to Bloomberg News.
  • The Trump administration could be opening up a new front in the trade wars by taking on the European auto industry, according to CNBC.
  • The Federal Reserve will examine large banks' ability to withstand a harsher hypothetical downturn in the 2019 stress tests, but will be disclosing more details, according to S&P Global Market Intelligence.

 

ODDS AND ENDS

  • Oregon Sen. Ron Wyden (D) proposed legislation Friday that would allow states to permit cannabis markets without the threat of federal criminal intervention, according to the AP.
  • Shares of Kellogg Co. fell to a more than six-year low Friday amid rising questions about cereal and snacks company's earnings outlook.
  • President Trump's inauguration committee was reportedly charged a rate of $175,000 per day to utilize event space at the Trump International Hotel in Washington, D.C., despite internal objections at the Trump Organization that the rates were too high.

 

RECAP THE WEEK WITH ON THE MONEY

 
 
 
 
 
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News Alert: Five takeaways from acting AG's fiery House hearing

 
 
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Five takeaways from acting AG's fiery House hearing
Acting Attorney General Matthew Whitaker was grilled by House Judiciary Committee lawmakers for close to six hours on Friday in an explosive hearing dominated by partisan clashes.

During the hearing Whitaker fielded a slew of questions on special counsel Robert Mueller’s investigation, which he repeatedly declined to answer directly, infuriating House Democrats in their first crack at a top Trump administration official since recapturing the chamber in last year’s midterm elections.
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Overnight Energy: EPA enforcement numbers at historic low | Dems push resolution to back Paris climate agreement | Top lawmaker demands Interior nominee's schedules

 
 
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OFFICIAL EPA NUMBERS SHOW ALL TIME LOW IN ENFORCEMENT: Penalties handed down to corporate polluters in 2018 by the Trump administration's Environmental Protection Agency (EPA) were the lowest in over a decade, the agency announced in its annual report Friday.

By two key measures, the agency assessed lower penalties for breaking pollution laws on an inflation-adjusted basis than any year in at least 15 years, according to the official figures.

The dipped fines include a significant drop in injunctive relief -- the monetary commitments polluters pledge to spend in order to remediate their pollution and keep it from recurring -- and the civil penalties the EPA charged to companies.

The EPA obtained a total of $3.95 billion in injunctive relief in fiscal 2018, which stretched from Oct. 1, 2017, to Sept. 30, 2018. That number was the lowest in 15 years.

The last time the numbers were that low was in 2003 during the Bush administration, at $3.94 billion.

Looking at civil penalties, the total amount fined to polluters who broke EPA regulations was $69.47 million in the same period, the lowest amount on record since the EPA's enforcement office was established in its current form in 1994.

The 2018 figures were both a drop from the alarming amounts the EPA collected in 2017. Injunctive relief in 2018 was an 80 percent decrease from the EPA's 2017 numbers of $20 billion. Civil penalties in 2018 dropped nearly 96 percent from the agency's 2017 numbers of $1.6 billion.

The drop in penalty numbers assessed under Trump in 2017 are already under investigation by both Interior's Office of the Inspector General and the Government Accountability Office.

EPA cheers numbers: Despite the drop, agency officials Friday nonetheless appeared proud of their enforcement results.

"A strong enforcement and compliance assurance program is essential to achieving positive public health and environmental outcomes," Susan Bodine, head of the EPA's Office of Enforcement and Compliance Assurance, said in a statement on Friday's report.

"In fiscal year 2018, we continued our focus on expediting site cleanup, deterring noncompliance, and returning facilities to compliance with the law, while respecting the cooperative federalism structure of our nation's environmental laws."

Read more here.

 

TGIF! 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.

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DEMS -- AND ONE REPUBLICAN -- BACK RESOLUTION ON PARIS AGREEMENT: Dozens of House Democrats and one Republican introduced legislation Friday meant to demonstrate congressional support for the Paris climate agreement.

The short, nonbinding resolution would declare that Congress "reaffirms its commitment" to the 2015 pact that every other nation in the world has signed onto, and that the United States "should not withdraw." The measure would not mandate that the U.S. return to the agreement.

The move is designed to rebuke President Trump's 2017 announcement that the U.S. would pull out of the landmark global accord, under which nearly 200 countries made nonbinding pledges to limit or reduce greenhouse gas emissions.

"I'm glad my colleagues on both sides of aisle are joining me on this bipartisan resolution to set the record straight and support the Paris agreement on climate action," Rep. Jared Huffman (D-Calif.), a lead sponsor of the legislation along with Reps. Don Beyer (D-Va.) and Brian Fitzpatrick (R-Pa.), said in a statement.

"The Still-In Resolution is an important message that the world desperately needs to hear," Huffman said. "It's by no means the only thing this Congress needs to do on the climate crisis, but it's an important starting point."

"Climate change must be addressed proactively with leaders from both sides of the aisle working to protect our planet," Fitzpatrick said in Friday's statement. "I continue to urge the administration not to leave the Paris Climate Accord -- but in the meantime, Congress should send a message to the world: the people of the United States remain committed to pursuing bipartisan solutions to address climate change and protect our environment."

More on the resolution here.

 

TOP DEM LAWMAKER DEMANDS SCHEDULE DETAILS FOR INTERIOR NOMINEE: The chairman of the House Natural Resources Committee is requesting that the acting secretary of the Interior Department provide more details from his public schedule, suggesting omissions may indicate possible conflicts of interest.

Rep. Raúl Grijalva (D-Ariz.), whose committee oversees the Interior Department, sent a letter to David Bernhardt, President Trump's nominee for Interior secretary, asking him to provide more information about the people he has met with during his time as deputy secretary and later as acting secretary.

"The versions of calendars that have been obtained through Freedom of Information Act requests and posted to the DOI website are missing important details," Grijalva wrote, adding that there are more than 100 hours of meetings where Bernhardt didn't specify the participants.

Sections of his schedule that raised red flags to the lawmakers included parts labeled "external meeting," "call" or "event."

"Last month, as you assumed the role of Acting Secretary of the Department of Interior, you began publishing your schedule on the DOI website with even fewer details," Grijalva wrote.

The Arizona Democrat added he's concerned that some of the missing details were purposely left out.

"There is further concern that some of your calendar entries may have been altered or left incomplete," Grijalva wrote.

He compared one of Bernhardt's entries with the calendar of former Interior Secretary Ryan Zinke, who listed more details, including meeting participants.

"The discrepant entries in both calendars appear to be the same appointment, generated by the same person, indicating that both entries should be identical unless altered or withheld," he wrote.

Read more on the request here.

 

ON TAP NEXT WEEK:

The Senate is due to continue consideration of its wide-ranging bipartisan public lands package, which includes an indefinite extension of the Land and Water Conservation Fund.

Senators are likely to vote on an amendment by Sen. Mike Lee (R-Utah) to limit presidents' authority to use the Antiquities Act to unilaterally create national monuments within Utah.

House Democrats are planning to continue their streak of hearings on climate change.

Three of the hearings will be in the Natural Resources Committee, tailored to specific subcommittees. The energy and mineral resources subcommittee and indigenous peoples subcommittee will have climate hearings Tuesday, and the national parks and public lands subcommittee on Wednesday.

Over in the House Energy and Commerce Committee, the energy subcommittee will have a Tuesday hearing on the Energy Department's energy efficiency standards.

And in the House Science, Space and Technology Committee, lawmakers are gathering Tuesday for a hearing on the state of climate science.

 

OUTSIDE THE BELTWAY:

A California state employee filed a lawsuit making charges including corruption and sexual harassment related to the Oroville Dam crisis, the Sacramento Bee reports.

The European Union decided to impose stricter standards on the planned Nord Stream 2 natural gas pipeline from Russia, BBC News reports.

A Missouri oil leak likely originated from the Keystone pipeline, according to its owner, Reuters reports.

 

IN CASE YOU MISSED IT:

Check out stories from Friday:

- EPA polluter enforcement hit historic lows in 2018

- House lawmakers introduce resolution to support Paris climate agreement

- Top Dem demands schedule details from Interior nominee

- Kids in climate lawsuit ask to block fossil fuel production on federal land

 
 
 
 
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