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 TrumpCould Donald Trump and Boris Johnson be this generation's Reagan-Thatcher? Merkel backs Democratic congresswomen over Trump How China's currency manipulation cheats America on trade 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 MeadowsLawmakers request documents on DC councilman ethics investigation House Republicans dismissive of Paul Ryan's take on Trump The 27 Republicans who voted with Democrats to block Trump from taking military action against Iran 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 SchumerTop Democrats demand security assessment of Trump properties Lawmakers pay tribute to late Justice Stevens Trump administration denies temporary immigrant status to Venezuelans in US 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) MenendezPompeo changes staff for Russia meeting after concerns raised about top negotiator's ties: report Dem senators demand GOP judicial group discloses donors Senate passes .5B border bill, setting up fight with House MORE (D-N.J.) and Lindsey GrahamLindsey Olin GrahamScarborough sounds alarm on political 'ethnic cleansing' after Trump rally The Hill's Morning Report: Trump walks back from 'send her back' chants GOP rattled by Trump rally 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 CrapoOvernight Health Care — Presented by PCMA — Sanders mounts staunch defense of 'Medicare for All' | Biden, Sanders fight over health care heats up | House votes to repeal ObamaCare 'Cadillac Tax' | Dems want details on fetal tissue research ban Hillicon Valley: Senators unload on Facebook cryptocurrency plan | Trump vows to 'take a look' at Google's ties to China | Google denies working with China's military | Tech execs on defensive at antitrust hearing | Bill would bar business with Huawei Senators unload on Facebook cryptocurrency at hearing MORE (R-Idaho), the panel's chairman, and Sen. Sherrod BrownSherrod Campbell BrownThe Hill's Morning Report - A raucous debate on race ends with Trump admonishment On The Money: Senators unload on Facebook cryptocurrency | Tech giants on defensive at antitrust hearing | Democrats ask Labor Department to investigate Amazon warehouses Hillicon Valley: Senators unload on Facebook cryptocurrency plan | Trump vows to 'take a look' at Google's ties to China | Google denies working with China's military | Tech execs on defensive at antitrust hearing | Bill would bar business with Huawei 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."