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On The Money: Mnuchin to attend anti-terror meeting in Saudi Arabia | Treasury releases guidance on 'opportunity zone' program | Maxine Waters gets company in new GOP line of attack

On The Money: Mnuchin to attend anti-terror meeting in Saudi Arabia | Treasury releases guidance on 'opportunity zone' program | Maxine Waters gets company in new GOP line of attack
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Happy Friday and welcome back to On The Money, where we're jamming another two or six years of craziness into one newsletter. I'm Sylvan Lane, and here's your nightly guide to everything affecting your bills, bank account and bottom line.

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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--Mnuchin to attend anti-terror meeting in Saudi Arabia: Treasury Secretary Steven MnuchinSteven Terner MnuchinOn The Money: Amazon taps New York, Northern Virginia for new offices | What it means for the DC area | Dems target vulnerable commerce chief | Earmarks look to be making a comeback New IRS chief to make updating agency technology a priority Trade discussions resume between US, China MORE says he will still attend an upcoming anti-terrorism conference in Saudi Arabia after announcing Thursday he would withdraw from an unrelated investment conference in the country later this month.

Three people familiar with the Cabinet official's plans told The Washington Post Mnuchin still plans to attend the gathering of the Terrorist Financing Targeting Center in the country's capital of Riyadh later this month despite participation in the event by Saudi security forces who are suspected of carrying out the possible murder of Jamal Khashoggi, a Washington Post columnist.

The news of Mnuchin's travel plans comes a day after the Treasury secretary tweeted that he would not attend Riyadh's Future Investment Initiative later in October amid concerns about Saudi Arabia's involvement in Khashoggi's possible murder. Here's more from The Hill's John Bowden.

 

LEADING THE DAY

Treasury releases guidance on 'opportunity zone' program: The Treasury Department on Friday released proposed rules about the "opportunity zone" program created by President TrumpDonald John TrumpDeath toll in Northern California wildfire rises to 48: authorities Graham backs bill to protect Mueller Denham loses GOP seat in California MORE's tax law, which is designed to help spur new investments in distressed communities.

The guidance is designed to provide investors with information needed to enter into business arrangements in the opportunity zones, Treasury said. Investors and state and local governments who plan to utilize the program had been looking forward to receiving guidance on the program.

Under the new tax law, investors can receive capital gains tax breaks if they invest in distressed areas designated by Treasury as opportunity zones. Treasury has already approved areas that governors requested be designated as opportunity zones. More than 8,000 communities, home to almost 35 million Americans, are in the designated areas. The Hill's Naomi Jagoda explains here.

 

Maxine WatersMaxine Moore WatersDem running for president says party misaligned with America Trump’s hard lesson for Republicans: Fight back Dems find easy target in Trump commerce chief MORE gets company in new GOP line of attack: Republican leaders and conservative commentators are warning GOP voters that if Democrats take back the House, it will usher in a new era of liberal committee chairs hell-bent on destroying the Trump presidency.

Minority Leader Nancy PelosiNancy Patricia D'Alesandro PelosiGraham backs bill to protect Mueller Clyburn says some critics are using race to oppose his leadership bid Congress can unite on global affairs MORE (D-Calif.) is still the star of many GOP attack ads this fall, but Republicans are also taking aim at a handful of new targets: Reps. Maxine Waters (Calif.), Jerrold Nadler (N.Y.), Elijah CummingsElijah Eugene CummingsCummings urges Dems to vote for Pelosi as Speaker, avoid ‘self-destructive’ battle Dems find easy target in Trump commerce chief Incoming N.J. Dem lawmaker says she won't vote for Pelosi as Speaker MORE (Md.) and other top Democrats poised to take control of key committees with broad subpoena and investigative powers.

"Nancy Pelosi is an easy foil for Republicans, and her poll numbers reflect that," said a House GOP aide. "But for single-issue voters out there, it's just as concerning when they learn that a House controlled by Democrats could mean cuts to defense spending or there will be new committee chairs who want to make the president's life miserable." Here's more from The Hill's Juliegrace Brufke and Scott Wong.

 

ON TAP NEXT WEEK

Tuesday:

  • The Brookings Institution hosts an event on taxation of the "gig economy," 9:30 a.m.
  • The Brookings Institution hosts an event on the fallout from Brexit for the U.K., Ireland and Europe, 2:00 p.m.

 

Wednesday:

  • The American Enterprise Institute hosts a two-day conference on housing markets and finance, 8:15 a.m.
  • The Brookings Institution hosts an event on financial tools for U.S. policy toward Nicaragua and Venezuela with Treasury Assistant Secretary Marshall Billingslea, 11 a.m.

Thursday:

 

GOOD TO KNOW

 

ODDS AND ENDS

 

RECAP THE WEEK WITH ON THE MONEY: