On The Money: Lawmakers race to pass border deal | Trump rips 'stingy' Democrats, but says shutdown would be 'terrible' | Battle over contractor back pay | Banking panel kicks off data security talks

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--Lawmakers race to pass border deal: Lawmakers are rushing to pass a bipartisan border deal that would prevent a looming government shutdown and resolve the long-standing impasse over President TrumpDonald John TrumpFive takeaways from the Democratic debate As Buttigieg rises, Biden is still the target Leading Democrats largely pull punches at debate MORE's border wall.

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Democratic leaders said they expect the House to pass the funding package Thursday night, giving senators across the Capitol a little more than 24 hours to vote and send it to Trump for his expected signature. Parts of the government will shut down on Saturday if a new funding bill has not been signed into law.

Lawmakers had yet to even see legislation on Wednesday evening, meaning many in Congress are likely to cast votes on the bill without reading many of its details. Democrats said they planned to unveil the legislation Wednesday night. The Hill's Scott Wong and Niv Elis give us the state of play here.

What we know:

All eyes on the White HouseTrump has been critical of the legislation, and while he is expected to sign it, he has not confirmed that he would. He called Democrats "stingy" for failing to deliver the $5.7 billion he had been demanding for his border wall, but said earlier Wednesday that a shutdown "would be a terrible thing."


How the wall gets built: Trump could declare a state of emergency to access defense funds or take steps to retool general operations funds from the Department of Homeland Security. If Trump does that, it'll likely spur many lawsuits and concern from Congress.

Conservative pressure: But Freedom Caucus Chairman Mark MeadowsMark Randall MeadowsMichelle Obama presents Lin-Manuel Miranda with National Portrait Award Sondland testimony looms over impeachment hearings this week Democrats seize on new evidence in first public impeachment hearing MORE (R-N.C.), one of Trump's closest allies in Congress, said the president would be committing "political suicide" of he doesn't do what he can to fund the wall.

If Trump "takes other methods to obtain funding for additional border security measures, then I think there's very little political liability from conservatives," Meadows said.


Negotiators brush off concerns: The bicameral leaders of the conference committee -- the group that negotiated the deal -- dismissed concerns about rushing the legislation.

 

ON TAP TOMORROW

  • The Senate Banking Committee holds a confirmation hearing on the nominations of Bimal Patel, of Georgia, to be an assistant secretary of the Treasury; Todd M. Harper to be a member of the National Credit Union Administration Board; Rodney Hood to be a member of the National Credit Union Administration Board; and Mark Calabria to be Director of the Federal Housing Finance Agency, 10 a.m.

LEADING THE DAY

Push to include contractor back pay in funding deal hits GOP roadblock: An effort to include back pay for contractors in the government funding deal is running into GOP opposition.

Senate Minority Leader Charles SchumerCharles (Chuck) Ellis SchumerTensions rise in Senate's legislative 'graveyard' 2020 Republicans accuse Schumer of snubbing legislation Schumer: Leadership trying to work out competing surprise medical bill measures MORE (D-N.Y.) said Democrats were trying to get the 17 conferees to approve adding back pay stemming from the longest shutdown in U.S. history into the legislative text of the government funding agreement.

"Thousands of federal contractors have not been reimbursed from the 35-day shutdown. This issue is still hanging in the balance," Schumer said. "No one should stand in the way of that. It's just not fair to them. They were hostages."

 

Bipartisan Senators reintroduce legislation to slap new sanctions on Russia: A bipartisan group of senators is renewing their effort to slap new sanctions on Russia over its 2016 election interference and activities in Ukraine and Syria. 

The bill, spearheaded by Sens. Bob MenendezRobert (Bob) MenendezSenate passes legislation supporting Hong Kong protesters Graham blocks resolution recognizing Armenian genocide after Erdoğan meeting Trump encounters GOP resistance to investigating Hunter Biden MORE (D-N.J.) and Lindsey GrahamLindsey Olin GrahamGraham: Report on alleged surveillance abuse in 2016 to be released Dec. 9 McConnell hopes Senate impeachment trial 'not too lengthy a process' Hillicon Valley: Progressives oppose funding bill over surveillance authority | Senators call for 5G security coordinator | Facebook gets questions over location tracking | Louisiana hit by ransomware attack MORE (R-S.C.), includes a wide array of new financial penalties targeting Russia's energy sectors, financial institutions and "political figures, oligarchs, and family members and other persons that facilitate illicit and corrupt activities, directly or indirectly, on behalf of Vladimir Putin."

In addition to sanctions, it would also require a two-thirds vote for the United States to leave NATO and force the State Department to determine if Russia is a state sponsor of terrorism. 
Jordain Carney breaks it down here.

 

Senate Banking panel kicks off talks on data security bill: The leaders of the Senate Banking Committee on Wednesday kicked off a push to write stricter data collection and security standards for financial institutions.

Sen. Mike CrapoMichael (Mike) Dean CrapoEleven GOP senators sign open letter backing Sessions's comeback bid GOP requests update on criminal referrals prompted by 2018 Kavanaugh probe Nearing finish line, fight for cannabis banking bill shifts to the Senate MORE (R-Idaho), the panel's chairman, and Sen. Sherrod BrownSherrod Campbell BrownHillicon Valley: Commerce extends Huawei waiver | Senate Dems unveil privacy bill priorities | House funding measure extends surveillance program | Trump to tour Apple factory | GOP bill would restrict US data going to China Senate Democrats unveil priorities for federal privacy bill On The Money: Trump asks Supreme Court to block Dem subpoena for financial records | Kudlow 'very optimistic' for new NAFTA deal | House passes Ex-Im Bank bill opposed by Trump, McConnell MORE (Ohio), the ranking Democrat, on Wednesday asked for input on ways to give consumers more control of personally identifiable information collected by financial firms and regulators.

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Data security, privacy and collection issues are among the top bipartisan priorities for the Banking Committee, which has broad oversight over U.S. banks, lenders, insurers, traders and credit reporting agencies.

Crapo and Brown's call for feedback is one of the first steps toward proposing a bipartisan bill to address those concerns.

 

GOOD TO KNOW

 

ODDS AND ENDS

  • President Trump on Wednesday touted a Gallup poll released this week, tweeting that it was "Nice!" that "69% of our great citizens expect their finances to improve next year, a 16 year high."