Schiff hits back at Trump: He’s ‘terrified’ of House Russia probe

House Intelligence Committee Chairman Adam SchiffAdam Bennett SchiffSchiff pleads to Senate GOP: 'Right matters. And the truth matters.' Democrats hammer abuse of power charge, allege Trump put self over country Female impeachment managers say American public know a 'rigged' trial when they see one MORE (D-Calif.) on Wednesday fired back at President TrumpDonald John TrumpSchiff pleads to Senate GOP: 'Right matters. And the truth matters.' Anita Hill to Iowa crowd: 'Statute of limitations' for Biden apology is 'up' Sen. Van Hollen releases documents from GAO investigation MORE after the president accused him of being a "political hack," saying that he could understand why Trump was scared of congressional oversight.

The comments from Schiff came just minutes after Trump denounced the California Democrat for opening a sweeping committee probe into Trump’s ties to Russia and his personal finances. 

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“He has no basis to do that. He’s just a political hack who’s trying to build a name for himself,” the president told reporters at the White House. “It’s just presidential harassment and it’s unfortunate and it really does hurt our country." 

Schiff announced earlier Wednesday that the House Intelligence panel's investigation would extend beyond potential links between Russia and the Trump campaign. Among other things, Schiff said the probe would evaluate if Trump's decisions have been motivated by financial gain. 

“The president’s actions and posture towards Russia during the campaign, transition, and administration have only heightened fears of foreign financial or other leverage over President Trump and underscore the need to determine whether he or those in his administration have acted in service of foreign interests since taking office,” he said in a statement. 

Trump said during the State of the Union that an "economic miracle" was taking place in the U.S. and that the only thing that could stop it were "foolish wars, politics or ridiculous partisan investigations.”

The remark was criticized by both Senate Minority Leader Charles SchumerCharles (Chuck) Ellis SchumerSchumer urges declassification of letter from Pence aide No rush to judgment on Trump — it's been ongoing since Election Day Collins walks impeachment tightrope MORE (D-N.Y.) and Speaker Nancy PelosiNancy PelosiDemocrats hammer abuse of power charge, allege Trump put self over country Overnight Energy: Trump issues rule replacing Obama-era waterway protections | Pelosi slams new rule as 'an outrageous assault' | Trump water policy exposes sharp divides Pelosi slams Trump administration's new water rule: 'An outrageous assault' MORE (D-Calif.). 

"You know what I think it shows, he’s scared," Schumer said on CNN's "New Day. "He’s got something to hide. Because if he had nothing to hide he’d just shrug his shoulders and let these investigations go forward."