Overnight Finance: Biz groups endorse Trump's Labor pick | New CBO score coming before health bill vote | Lawmakers push back on public broadcasting cuts

New CBO score on the way: Republicans will have an updated Congressional Budget Office (CBO) analysis of the ObamaCare replacement bill before a vote on Thursday, Ways and Means Committee Chairman Kevin BradyKevin Patrick BradyRepublicans open to targeted China tariffs despite steel flap GOP pushes for 'phase two' of tax cuts Lighthizer, Ross set to talk trade on Capitol Hill next week MORE (R-Texas) said Monday.

Brady said changes to the GOP legislation will be unveiled later on Monday as leaders seek to win over enough votes to pass the legislation.

Possible changes include giving more tax credits for buying health insurance to older and lower-income people, and repealing ObamaCare's taxes sooner.

House Majority Whip Steve Scalise (R-La.) last week had declined to commit to having an updated CBO analysis before the floor vote.

But Brady said lawmakers will have the bill's score "certainly before we go to the floor," which still leaves open the possibility of the CBO's report coming out the day of the vote.

The Hill's Peter Sullivan explains what's next. http://bit.ly/2nM2Xp1

Budget group: GOP healthcare bill would reduce deficit by $2T over 20 years: The House bill to repeal and replace ObamaCare would reduce the federal deficit by about $2 trillion over 20 years, according to a rough estimate released Monday by the Committee for a Responsible Federal Budget (CRFB).

The estimate from the nonpartisan budget watchdog comes ahead of Thursday's planned House vote on the measure. The bill has the support of the White House and House GOP leadership, though some conservative and moderate GOP lawmakers oppose it. The Hill's Naomi Jagoda explains: http://bit.ly/2nty8YT.

Business groups endorse Trump's Labor pick: President Trump's second choice to lead the Labor Department, Alexander Acosta, is receiving support from business leaders ahead of his Senate confirmation hearing on Wednesday.

A coalition of 70 business groups wrote to the Senate Health, Education, Labor and Pensions Committee on Monday, calling for swift confirmation of Acosta, the dean of Florida International University's law school and a former member of the National Labor Relations Board.

Unlike Trump's first Labor pick, restaurant executive Andrew Puzder, who was left reeling from criticism about how he treats fast-food workers, Acosta is seen as a "dedicated public servant who has spent years wrestling with complex legal issues, and has proven management and federal agency experience," the businesses wrote. The Hill's Tim Devaney reports: http://bit.ly/2ntyyi7.

Dem, GOP lawmakers push back against Trump's cuts to public broadcasting: A bipartisan pair of House members are urging appropriators to protect funds for public broadcasting after the Trump administration's budget proposed eliminating federal support.

Reps. Dave ReichertDavid (Dave) George ReichertWith bills on the table, Congress must heed the call to fix our national parks 107 House Republicans express 'deep concern' about Trump tariffs Overnight Finance: Cohn resigns from White House | Senate moves forward on Dodd-Frank rollback | House eyes vote on funding bill next week MORE (R-Wash.) and Earl BlumenauerEarl BlumenauerWay to go, Ted Poe Lawmakers promote pet adoption at Paws for Luck 10 governors shaping the future of politics MORE (D-Ore.) are circulating a letter calling for the programs' continued funding after the White House called for defunding the Corporation for Public Broadcasting (CPB) in its budget last week. 

They plan to urge the lawmakers in charge of the House Appropriations panel that oversees the CPB, which provides funds to public television and radio stations such as PBS and NPR and to Ready to Learn, an educational television and digital media program aimed at low-income school children, to ensure they're fully funded. The Hill's Cristina Marcos tells us more: http://bit.ly/2ntL6Wu.

Happy Monday and welcome to Overnight Finance. I'm Sylvan Lane, and here's your nightly guide to everything affecting your bills, bank account and bottom line.

Tonight's highlights include the long legacy of the fiduciary rule, an open call for economic growth proposals and trade news from G20.

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.

On tap tomorrow

House Appropriations Subcommittee on Labor, Health and Human Services,Education, and Related Agencies: Budget hearing for the National Institutes of Health, 10 a.m. http://bit.ly/2mAkKxL.

  • House Financial Services Subcommittee on Oversight and Investigations: Hearing on "The Bureau of Consumer Financial Protection's Unconstitutional Design," 10 a.m. http://bit.ly/2mAhYZe.
  • House Oversight Committee: Hearing on "125 Billion in Savings Ignored: Review of the Department of Defense's Efficiency Study," 10 a.m.  http://bit.ly/2mAvnQV.
  • House Financial Services Subcommittee on Financial Institutions: Hearing on "Ending the De Novo Drought: Examining the Application Process for De Novo Financial Institutions," 2 p.m. http://bit.ly/2mQPMoY.
  • The American Bankers Association holds its government relations summit.

Mulvaney tells department heads to stay quiet amid budget rollout: Office of Management and Budget (OMB) Director Mick Mulvaney is warning the heads of departments and agencies to limit remarks on spending levels for next year.

A memo obtained by The Hill notes that in the coming weeks, many department leaders will testify before congressional committees regarding the White House's fiscal 2018 budget blueprint.

"Until OMB releases the full FY 2018 Budget," the memo, sent Friday, says, "all public comments of any sort should be limited to the information contained in the Budget Blueprint chapter for your agency."

The letter adds, "It is critically important that you not make commitments about specific programs if they are not expressly mentioned in the Budget Blueprint." http://bit.ly/2ntKfoL.

Senate Banking panel seeks proposals for economic growth: Do you have a plan to help the United States economy grow? Then the Senate Banking Committee wants to hear from you.

Committee Chairman Mike CrapoMichael (Mike) Dean CrapoPower struggle threatens to sink bank legislation Overnight Regulation: FDA rule to limit nicotine in cigarettes moves forward | Court tosses Obama financial adviser rule | House GOP threatens to hold up Senate Dodd-Frank rollback Overnight Finance: House threatens to freeze Senate Dodd-Frank rollback | New Russia sanctions | Trump vs. Trudeau on trade | Court tosses Obama financial adviser rule MORE (R-Idaho) and ranking Democrat Sherrod BrownSherrod Campbell BrownDemocratic senator: People don’t know what’s going on between Trump and Putin Power struggle threatens to sink bank legislation Pension committee must deliver on retirement promise MORE (Ohio) announced Monday that they're asking for legislative proposals to boost U.S. economic growth.

The committee said all submissions should identify three to five legislative proposals "that will promote economic growth and/or enable consumers, market participants and financial companies to better participate in the economy." I'll tell you more here: http://bit.ly/2ntFvj8.

Fitch: Insurers have made 'enduring' changes because of investment adviser rule: The impact of the Department of Labor's "fiduciary rule" for financial advisers may last longer than the regulation itself, a top international ratings firm said Monday.

Fitch Ratings said that insurance companies have already made fundamental changes to the way they operate in order to comply with the Labor rule.

The Trump administration delayed implementation of the Labor rule -- issued in April under President Obama -- that aims to crack down on broker-dealers selling financial products without disclosing conflicts of interest.

But Fitch says that life insurance agencies have started increasing the sales of certain investment accounts and adjusting broker compensation arrangements to compensate for the rule. I explain here: http://bit.ly/2ntI8Be.

Trump admin rejects anti-protectionism language in G20 free trade statement: The Trump administration on Saturday rebuffed language in a free trade statement at a G20 meeting that would have opposed economic protectionism, The Washington Post reported.

The rejection of language stressing the importance of free and open trade and condemning protectionism signals a growing fissure between the U.S. and some of its key economic allies.

German officials reportedly urged Treasury Secretary Steve Mnuchin to agree to include the free trade language in the G20's joint statement, but the former hedge fund manager refused to do so, marking a break from previous meetings in which such language was adopted: http://bit.ly/2ntJkEX.

Spicer: Tax reform could come in late spring: White House press secretary Sean Spicer told an Irish newspaper Friday that the Trump administration may begin a tax code overhaul by this spring.

Reuters reported the timing Sunday. 

Ireland's Sunday Independent newspaper interviewed Spicer late last week, during Irish Prime Minister Enda Kenny's diplomatic visit to the District.

"We are going to have tax reform after we get healthcare completed. ... I think we are looking at late spring to summer," Spicer told the newspaper.
Trump promised to lower taxes for the middle class and for businesses during his campaign.

Write us with tips, suggestions and news: slane@thehill.comvneedham@thehill.com, and njagoda@thehill.com. Follow us on Twitter: @SylvanLane,  @VickofTheHill and @NJagoda.