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 TrumpDemocrats' CNN town halls exposed an extreme agenda Buttigieg says he doubts Sanders can win general election Post-Mueller, Trump has a good story to tell for 2020 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 CummingsThe Hill's Morning Report - Will Joe Biden's unifying strategy work? Trump: 'No reason' for White House to comply with congressional investigations Overnight Energy: Six Interior officials under ethics investigation | EPA chief failed to disclose former lobbying client | Greens ask Wheeler to back up claim that climate change is '50 to 75 years out' 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 CohenHow I learned to love the witch hunt Trump's job approval ticks up 2 points: Gallup Dem lawmaker: 'Very serious doubts' that IRS is 'properly auditing' Trump 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 WatersSuspect charged for pipe bomb mailings says Trump rallies became like a 'drug' for him On The Money: Treasury misses second Dem deadline on Trump tax returns | Waters renews calls for impeachment | Dem wants Fed pick to apologize for calling Ohio cities 'armpits of America' | Stocks reach record high after long recovery Waters: 'We must impeach Putin's president Trump' 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 SmithMain Street businesses need permanent tax relief to grow Overnight Health Care: Lawmakers get deal to advance long-stalled drug pricing bill | House votes to condemn Trump's anti-ObamaCare push | Eight House Republicans join with Dems | Trump officials approve Medicaid expansion in Maine The 8 Republicans who voted against Trump's anti-ObamaCare push 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 DeLauroDemocratic proposals to overhaul health care: A 2020 primer Progressives threaten to derail major Dem spending proposal GOP on defensive over Dem votes on policies geared toward women 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 RubioDems plot aggressive post-Mueller moves, beginning with McGahn Senate Republicans tested on Trump support after Mueller Cuban negotiator says Trump's efforts to destabilize Cuba's government will fail MORE (R-Fla.) and Mitt RomneyWillard (Mitt) Mitt RomneyGOP plots comeback in Orange County Trump's Fed pick on critics: 'They're pulling a Kavanaugh against me' Dem super PAC campaign urges Republicans to back impeachment MORE (R-Utah) introduced legislation in the Senate, while Reps. Ann WagnerAnn Louise WagnerRepublicans offer 'free market alternative' to paid family leave Top GOP lawmaker moves to force floor vote on abortion bill This week: Senate GOP prepares to change rules on Trump nominees MORE (R-Mo.) and Dan CrenshawDaniel CrenshawOcasio-Cortez plans visit to Kentucky despite being disinvited by GOP colleague Ocasio-Cortez knocks Republican over Kentucky trip: 'GOP thought they could catch us with a bluff' Overnight Energy: Collins receives more donations from Texas oil, gas industry than from Maine residents | Interior chief left meetings off schedule | Omar controversy jeopardizes Ocasio-Cortez trip to coal mine 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 Elizabeth GillibrandThe Hill's Morning Report - Will Joe Biden's unifying strategy work? K Street support to test Buttigieg Kamala Harris backs putting third gender option on federal ID 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 BluntGOP senator: 'No problem' with Mueller testifying The Hill's Morning Report — Mueller aftermath: What will House Dems do now? Graham says he's 'not interested' in Mueller testifying 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 DeVosTrump's regulatory rollback boosts odds of a financial crisis The Hill's Morning Report - Dem candidates sell policy as smart politics Klobuchar: DeVos 'shouldn't be in her job' 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.