On The Money: Shutdown Day 26 | Pelosi calls on Trump to delay State of the Union | Cites 'security concerns' | DHS chief says they can handle security | Waters lays out agenda | Senate rejects effort to block Trump on Russia sanctions

On The Money: Shutdown Day 26  | Pelosi calls on Trump to delay State of the Union | Cites 'security concerns' | DHS chief says they can handle security | Waters lays out agenda | Senate rejects effort to block Trump on Russia sanctions
© Greg Nash

Happy Wednesday 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.

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THE BIG DEAL--Shutdown drama leaves State of the Union address in doubt: Speaker Nancy PelosiNancy Patricia D'Alesandro PelosiThe national emergency will haunt Republicans come election season On unilateral executive action, Mitch McConnell was right — in 2014 National emergency declaration — a legal fight Trump is likely to win MORE (D-Calif.) asked President TrumpDonald John TrumpMcCabe says he was fired because he 'opened a case against' Trump McCabe: Trump said 'I don't care, I believe Putin' when confronted with US intel on North Korea McCabe: Trump talked to me about his election victory during 'bizarre' job interview MORE on Wednesday to delay his State of the Union address set for Jan. 29 until after the government reopens.

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Pelosi said because the Secret Service is the lead agency for security and it has not been funded due to the shutdown, the address should be put off. 

As an alternative, Pelosi said Trump could consider submitting the State of the Union in writing, which was the previous norm for presidents started by Thomas Jefferson in 1801 and ended by Woodrow Wilson in 1913. 

"Sadly, given the security concerns and unless government re-opens this week, I suggest that we work together to determine another suitable date after government has re-opened for this address or for you to consider delivering your State of the Union address in writing to the Congress on January 29th," Pelosi wrote in the letter to Trump. The Hill's Mike Lillis explains why here.

Pelosi insisted that her decision was over safety and security concerns. The House also passed a Democratic-backed emergency disaster relief bill on Wednesday that includes an amendment funding the federal government through early February.

But Republicans pounced on the speaker and accused her of using the State of the Union as a political cudgel in shutdown talks.

Republican leadership also suggested that Trump should come to the Capitol to deliver his annual update even if she decides to rescind the formal invitation, reports The Hill's Juliegrace Brufke.

"I think he should come here and give a speech like everybody else. I watched when Republicans had the majority in the House, never did we disinvite President Obama. Never did we put politics ahead of America. That is what she is doing," House Minority Leader Kevin McCarthyKevin Owen McCarthyCongress allows Violence Against Women Act to lapse Mandatory E-Verify: The other border wall Bret Stephens: Would love to see Hannity react when Dem declares climate change emergency MORE (R-Calif.) told reporters Wednesday.

"It shouldn't be what else should happen - he should come here, he should give the speech and Speaker Pelosi should act like a speaker and have the president and keep her word," he said.

The Trump administration also sought to counter Pelosi's claim. Secretary of Homeland Security Kirstjen NielsenKirstjen Michele Nielsen2,000 asylum seekers return home, decide to stay in Mexico: report Trump taps FEMA official to lead agency Unscripted Trump keeps audience guessing in Rose Garden MORE said on Twitter that her department and the Secret Service, which she oversees, "are fully prepared to support and secure the State of the Union."

The White House hasn't yet responded to Pelosi's request to move the date, though Nielsen's statement indicates Trump is not inclined to grant it.

Why is this happening?

  • White House officials have been considering using the president's annual address to the nation to admonish Democrats over the shutdown and their opposition to Trump's request for $5.7 billion in funding for a border wall.
  • But others have warned Trump that he faces political danger as the shutdown, which has already entered a record-setting 26th day, drags on. Roughly 800,000 workers have already missed paychecks due to the shutdown, and the economic harm from the shutdown is mounting.
  • While Pelosi says she's concerned about security, cancelling the State of the Union address would also Trump of a prime opportunity to blast House Democrats on national TV in their own domain. 

 

LEADING THE DAY

Waters lays out Financial Services agenda: Rep. Maxine WatersMaxine Moore WatersPrivate insurance plays a critical part in home mortgage ecosystem On The Money: Lawmakers closing in on border deal | Dems build case for Trump tax returns | Trump, Xi won't meet before trade deadline | Waters in talks with Mnuchin for testimony Waters in talks with Mnuchin for testimony on lifting of sanctions on Russian firms MORE, chairwoman of the House Financial Services Committee, delivered a speech Wednesday outlining her priorities as she takes control of the powerful panel. Here are the main highlights:

A slew of freshman Democratic firebrands will join Waters on the Financial Services panel, including Rep. Alexandria Ocasio-Cortez (N.Y.).

While New Yorkers often land seats on the Financial Services panel, those who do are often more sympathetic to Wall Street. But Ocasio-Cortez, who identifies as a democratic socialist, often touts her refusal to accept corporate donations and criticizes colleagues with close ties to the financial sector.

 

Senate rejects effort to block Trump on Russia sanctions: The Senate on Wednesday narrowly rejected a Democratic-led effort to block President Trump from lifting sanctions against three Russian businesses.

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Senators voted 57-42 to end debate on the resolution, falling short of the 60 votes needed. If all Democrats supported the measure, they needed to win over 13 GOP senators. The Hill's Jordain Carney explains here.

Background

 

GOOD TO KNOW

  • The IRS on Wednesday announced that it will waive a penalty for some taxpayers who didn't have enough money withheld from their paychecks this year, in an effort to help people as they adjust to the tax-code changes made by President Trump's tax law.
  • President Trump on Wednesday signed a bill guaranteeing back-pay to federal workers furloughed during the partial government shutdown that began in December. And Senate Democrats on Wednesday introduced legislation that would provide back pay to low-wage contractors affected by the government shutdown.
  • Federal workers are increasingly resorting to taking money out of their retirement funds as the shutdown continues, Bloomberg reported Wednesday.
  • Citigroup said Wednesday that median pay for women staff at the bank was only 71 percent of the median for men, when measured in unadjusted terms.

 

ODDS AND ENDS

  • The travel app Airbnb is rolling out a new program to help federal workers impacted by the ongoing government shutdown by offering a "night on us."
  • Federal prosecutors have launched a criminal investigation into Chinese telecommunications firm Huawei, The Wall Street Journal reported Wednesday.