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.

See something I missed? Let me know at slane@thehill.com or tweet me @SylvanLane. And if you like your newsletter, you can subscribe to it here: http://bit.ly/1NxxW2N.

Write us with tips, suggestions and news: slane@thehill.com, njagoda@thehill.com and nelis@thehill.com. Follow us on Twitter: @SylvanLane, @NJagoda and @NivElis.

 

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 Trump5 things to know about Boris Johnson Conservatives erupt in outrage against budget deal Trump says Omar will help him win Minnesota 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.

ADVERTISEMENT

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 CummingsHouse Oversight schedules Thursday vote to hold Kellyanne Conway in contempt Trump tweets, rally chant dominate Sunday shows as president continues attacks Sunday shows - Fallout over Trump tweets 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 CohenWill Democrats be up to the task of publicly interviewing Mueller? A question for Robert Mueller Key numbers to know for Mueller's testimony 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 WatersLawyer says suspect in mob boss killing believed he was on mission from Trump Hillicon Valley: Trump seeks review of Pentagon cloud-computing contract | FTC weighs updating kids' internet privacy rules | Schumer calls for FaceApp probe | Report says states need more money to secure elections Here are the 95 Democrats who voted to support impeachment 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 SmithThe Hill's Morning Report: Trump walks back from 'send her back' chants House approves bill raising minimum wage to per hour House calls for investigation into whether Pentagon tried to weaponize ticks 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 faces new hit on deficit Top Democrats call for administration to rescind child migrant information sharing policy Democrats talk up tax credits to counter Trump law 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 RubioAna Navarro lashes out at Rubio for calling outrage over Trump's 'go back' tweet 'self righteous' US-Saudi Arabia policy needs a dose of 'realpolitik' Media cried wolf: Calling every Republican a racist lost its bite MORE (R-Fla.) and Mitt RomneyWillard (Mitt) Mitt RomneyDemocrats should rise above and unify against Trump's tweets Trump steps up attacks on 'Squad' after post-rally furor Media cried wolf: Calling every Republican a racist lost its bite MORE (R-Utah) introduced legislation in the Senate, while Reps. Ann WagnerAnn Louise WagnerLiberal think tank: GOP paid parental leave proposals are too narrow A true believer in diversity, inclusion GOP amps up efforts to recruit women candidates MORE (R-Mo.) and Dan CrenshawDaniel CrenshawPopulation shifts set up huge House battleground Liberal think tank: GOP paid parental leave proposals are too narrow Racial politics roil Democratic Party 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 GillibrandDemocrats, advocacy groups urge Pompeo to abolish new 'unalienable rights' commission Harris, Nadler introduce bill to decriminalize marijuana Gillibrand says she doesn't regret calling for Franken to resign 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 wants commitment that Trump will sign budget deal Poll: McConnell is most unpopular senator Senate passes bill making hacking voting systems a federal crime 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 DeVosThe Hill's Morning Report — Trump applauds two-year budget deal with 0 billion spending hike Democratic senator slams DeVos: 'I think we should send her back' Congress should restore Pell Grant eligibility to incarcerated individuals 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.