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
© Anna Moneymaker

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: Trump teases 'major announcement' Saturday on shutdown | Fight with Dems intensifies | Pelosi accuses Trump of leaking trip to Afghanistan | Mnuchin refuses to testify on shutdown impacts The case for Russia sanctions Treasury issues final rules on key part of Trump's tax law 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 TrumpDACA recipient claims Trump is holding ‘immigrant youth hostage’ amid quest for wall Lady Gaga blasts Pence as ‘worst representation of what it means to be Christian’ We have a long history of disrespecting Native Americans and denying their humanity 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 WatersBuzzFeed story has more to say about media than the president New progressive sheriffs in town ready to fight for Main Street On The Money: Shutdown Day 27 | Trump fires back at Pelosi by canceling her foreign travel | Dems blast 'petty' move | Trump also cancels delegation to Davos | House votes to disapprove of Trump lifting Russia sanction 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 PelosiDACA recipient claims Trump is holding ‘immigrant youth hostage’ amid quest for wall Fox’s Wallace to Pence: Is government shutdown all about ‘leverage?' Former House Republican: Trump will lose the presidency if he backs away from border security 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 CummingsGiuliani defends Trump going after Cohen's father-in-law BuzzFeed story has more to say about media than the president Overnight Health Care: Dem chair plans hearing on Medicare for all | Senate GOP talks drug prices with Trump health chief | PhRMA CEO hopeful Trump reverses course on controversial pricing proposal 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: