On The Money: Trump Fed pick owes $75K to IRS, government claims | Dems seeking Trump financial info going back 10 years | GOP bill links paid parental leave to Social Security | Pentagon transfers $1B for wall

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--Trump Fed pick Moore owes $75K to IRS, government claims: The U.S. government is claiming that Stephen Moore, President TrumpDonald John TrumpDems want tougher language on election security in defense bill Five aides to Van Drew resign ahead of his formal switch to GOP The myth of the conservative bestseller MORE's pick to serve on the Federal Reserve Board, owes more than $75,000 to the IRS, according to court records.

A lien was entered against Moore in January 2018 for unpaid taxes from the 2014 tax year and additional taxes and penalties that may accrue. The unpaid balance was $75,328.80, according to a filing in circuit court in Montgomery County, Md.

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A court clerk told The Guardian that Moore hasn't yet satisfied the claim.

Moore told The Guardian that he disputed the IRS's claim but was hoping to reach an agreement with the agency.

"For several years I have been working through a dispute with the IRS, attempting to be returned what my attorneys and accountant believe were tax overpayments of tens of thousands of dollars," Moore said in a statement to the news outlet. The Hill's Naomi Jagoda explains here.

 

LEADING THE DAY

House Dems seeking Trump financial info going back 10 years: Democrats on the House Oversight and Reform Committee have requested information from a tax and accounting firm about President Trump's finances going back 10 years, according to a letter sent to the firm and released Wednesday.

Rep. Elijah CummingsElijah Eugene CummingsCongressional investigation finds Coast Guard leadership fell short on handling bullying Trump request for Ukrainian 'favor' tops notable quote list Impeachment can't wait MORE (D-Md.), the chairman of the panel, released a letter he sent to the firm Mazars USA LLP requesting information about Trump's finances going back to Jan. 1, 2009. He released the letter after two Republicans on the panel shared news of the request earlier in the day.

Cummings wrote in his letter dated March 20 that his request was spurred by testimony from Michael CohenMichael Dean CohenFormer Trump lawyer Michael Cohen asks judge to reduce sentence Trump request for Ukrainian 'favor' tops notable quote list Karen McDougal sues Fox News over alleged slander MORE, Trump's former personal attorney, who told lawmakers earlier this year that Trump often inflated or deflated his net worth for "potentially improper purposes."

The Hill's Tal Axelrod has more on the request here.

 

And don't forget, Rep. Maxine WatersMaxine Moore WatersSupreme Court takes up fight over Trump financial records Trump tweet mocking Greta Thunberg sparks backlash Melania Trump's 'Be Best' hashtag trends after president goes after Greta Thunberg MORE (D-Calif.) told The Hill on Tuesday that her committee has begun to receive financial records from Deutsche Bank detailing their relationship with President Trump.

 

The House passed the Paycheck Fairness Act: A bill aimed at strengthening protections against wage discrimination and holding employers accountable passed the House mostly along party lines on Wednesday.

The chamber voted 242-187 for the Paycheck Fairness Act, with seven Republicans joining Democrats in voting for the bill. It was co-sponsored by 238 Democrats and GOP Rep. Chris SmithChristopher (Chris) Henry SmithGOP lawmaker to offer bill to create universal charitable deduction on 'Giving Tuesday' China threatens 'strong countermeasures' if Congress passes Hong Kong legislation This week: Congress returns to chaotic Washington MORE (N.J.).

Proponents of the legislation argue it's a necessary step to close the wage gap. It has been introduced multiple times since 1997 to amend the Equal Pay Act and Fair Labor Standards Act, and was reintroduced by Rep. Rosa DeLauroRosa Luisa DeLauroTrump-Pelosi trade deal creates strife among progressives Physicians arrested after protesting denial of flu shots to migrants in US custody Advocacy groups decry Trump's 'anti-family policies' ahead of White House summit MORE (D-Conn.) in January.

Seven Republicans joined Democrats in backing the bill.

The Hill's Juliegrace Brufke has the details here.

 

GOP lawmakers offer paid parental leave legislation linked to Social Security: A group of Republicans on Wednesday introduced legislation that would allow people to pull forward some of their Social Security benefits to use for paid parental leave -- the latest effort from Republicans on paid leave in recent weeks.

Sens. Marco RubioMarco Antonio RubioWhite House makes push for paid family leave and child care reform Tom Hanks weighs in on primary: 'Anybody can become president' GOP senator blocks bill aimed at preventing Russia election meddling MORE (R-Fla.) and Mitt RomneyWillard (Mitt) Mitt RomneyImpeachment nears: What would John McCain have done? Washington braces as North Korea deadline looms Is a trap being set for Trump in the Senate trial? MORE (R-Utah) introduced legislation in the Senate, while Reps. Ann WagnerAnn Louise WagnerGroup of veterans call on lawmakers to support impeachment, 'put country over politics' Mnuchin expresses concerns about proposed taxes on financial trades Fed's top regulator takes heat from both parties MORE (R-Mo.) and Dan CrenshawDaniel CrenshawHouse GOP criticizes impeachment drive as distracting from national security issues Saagar Enjeti: Crenshaw's conservatism will doom future of GOP Conservatives seek to stifle new 'alt-right' movement steeped in anti-Semitism MORE (R-Texas) offered a companion bill in the House.

"Our proposal would enact paid family leave in America without increasing taxes, without placing new mandates on small businesses," Rubio said in a news conference.

How it works: Under the legislation, new parents would have the option to get early Social Security benefits for up to three months to finance paid parental leave. A fact sheet from Rubio and Romney said most parents below the median household income would be able to receive a benefit that would replace about two-thirds of their wages.

 

Democratic counteroffers: Meanwhile, Sen. Kirsten GillibrandKirsten GillibrandAdvocacy groups decry Trump's 'anti-family policies' ahead of White House summit This bipartisan plan is the most progressive approach to paid parental leave Bombshell Afghanistan report bolsters calls for end to 'forever wars' MORE (D-N.Y.) and other Democrats reintroduced their own paid family leave bill last month, which would allow people to take paid family and medical leave for up to 12 weeks and would be paid for through small increases in payroll taxes.

Supporters of Gillibrand's bill have criticized GOP proposals, arguing that people shouldn't feel like they have to choose between paid leave and receiving Social Security when they retire.

 

Pentagon transfers $1B to help build Trump's wall: The Pentagon has moved ahead with its plan to transfer $1 billion from its accounts to help build President Trump's border wall, despite congressional backlash and the possibility that the Defense Department will lose its ability to move dollars between accounts in the future.

Defense Department Chief Financial Officer David Norquist told lawmakers on Wednesday that the money was transferred to the Army Corps of Engineers on Tuesday night.

The reprogramming of funds comes after Rep. Pete Visclosky (D-Ind.), chairman of the House Appropriations defense subcommittee, rejected the Pentagon's bid to shift the money, adding his weight to the growing group of lawmakers that have condemned the move.

The Hill's Ellen Mitchell has the latest on the funding fight over the wall.

 

GOP senator says Special Olympics cuts will not be approved: Sen. Roy BluntRoy Dean BluntOn The Money: Lawmakers strike spending deal | US, China reach limited trade deal ahead of tariff deadline | Lighthizer fails to quell GOP angst over new NAFTA Lighthizer fails to quell GOP angst on trade deal Republicans consider skipping witnesses in Trump impeachment trial MORE (R-Mo.), the chairman of the Senate Appropriations subcommittee that determines Department of Education funding levels, on Wednesday rejected the Trump administration's proposed cuts to the Special Olympics.

"I'm a longtime supporter of the Special Olympics and proud that Missouri is home to the largest Special Olympics training facility in the world," Blunt said in a statement.

"I was just at the World Games and saw, as I have many times before, what a huge impact the organization has on athletes, their families, and their communities. Our Department of Education appropriations bill will not cut funding for the program," he added.

 

Major backlash: The chairman of the Special Olympics also fired back at Education Secretary Betsy DeVosElizabeth (Betsy) Dee DeVosDemocratic lawmaker tears into DeVos: You're 'out to destroy public education' Democrats lash out at DeVos over proposed changes to loan forgiveness plan The Hill's Morning Report - Sponsored by AdvaMed - House panel expected to approve impeachment articles Thursday MORE after she cut all federal funding for the Special Olympics in her department's proposed budget for fiscal 2020.

"The federal government, if it believes in full inclusion -- and it does, our Constitution, our Declaration and our laws tell us we do -- and if the federal government has a role to support that, it ought to be investing in kids with special needs," Special Olympics Chairman Timothy Shriver said on MSNBC Wednesday.

"Give these young people the chance to shine, to tell their stories, as you've heard. The country is starving for this.

 

DeVos knocks the media: DeVos hit back on Wednesday, denouncing what she described as "shameful" media coverage of "falsehoods" about the Department of Education's proposed cuts to the Special Olympics.

"It is unacceptable, shameful and counterproductive that the media and some members of Congress have spun falsehoods and fully misrepresented the facts," DeVos said in a statement.

DeVos said she had "personally supported" the Special Olympics but added that it raises more than $100 million every year in private donations.

She also said there are "dozens of worthy nonprofits" supporting students and adults with disabilities "that don't get a dime of federal grant money."

She did not identify what "falsehoods" the media allegedly perpetrated.

 

GOOD TO KNOW

 

ODDS AND ENDS

  • President Trump on Wednesday revealed he had met with Google CEO Sundar Pichai to discuss the company's work in China and allegations of anti-conservative bias.
  • The five largest publicly-owned oil and gas companies in the world have invested over $1 billion in shareholder funds in the three years following the Paris climate agreement on "misleading climate-related branding and lobbying," according to a new report from InfluenceMap.