On The Money: Trump, in reversal, says he's not looking at tax cuts | Trump calls himself 'chosen one' to fight China on trade | CBO finds spending deal to add $1.7T to deficit
On The Money: House Dem says marijuana banking bill will get vote in spring | Buttigieg joins striking Stop & Shop workers | US home construction slips in March | Uber gets $1B investment for self-driving cars
Happy Friday and welcome back to On The Money, where we're crashing into the weekend like an (unharmed) goose through a truck window. I'm Sylvan Lane, and here's your nightly guide to everything affecting your bills, bank account and bottom line.
THE BIG DEAL-- House Dem says marijuana banking bill will get vote this spring:
Rep. Earl Blumenauer (D-Ore.) said Friday that the House will vote later this spring on legislation allowing banks to work with marijuana businesses in certain states.
Blumenauer, who has long pushed cannabis legislation in Congress, said he has been in touch with Speaker Nancy Pelosi (D-Calif.) on timing for the bill, which was approved by the House Financial Services Committee in a 45-15 vote last month.
"Nancy Pelosi has always been supportive of cannabis reform," he told reporters on a call. "There's no doubt in my mind what is coming out of the Financial Services Committee will be given the opportunity to proceed to the floor in regular order."
When asked about timing for the bill, Pelosi spokesman Drew Hammill noted the strong bipartisan vote in committee and that conversations would continue as the panel's work wraps up.
Will it get to Trump's desk? The bill is expected to pass the House if it receives a vote, but it faces less-than-certain prospects in the GOP-controlled Senate.
The Hill's Alex Gangitano has more on what's ahead.
Dems digging into Trump finances post-Mueller: Democrats are pressing forward with their investigations into President Trump's personal finances well beyond the boundaries of the special counsel probe into Russian interference in the 2016 election.
House committees led by fierce Trump critics are poised to ramp up their search for potential financial crimes committed by the president long before he launched his improbable presidential bid.
Mueller's probe focused on questions of collusion and potential obstruction of justice, but Democratic Reps. Maxine Waters and Adam Schiff of California, who chair the House Financial Services and Intelligence Committees respectively, are looking at Trump's business empire and potential dealings with Russian nationals for any evidence of financial crimes.
We'll have the full story on TheHill.com this weekend.
LEADING THE DAY
Buttigieg joins striking Stop & Shop workers: Democratic presidential hopeful Pete Buttigieg joined picketing Stop & Shop workers Friday in Massachusetts as the South Bend, Ind., mayor seeks to gin up support amid rising polls and strong fundraising numbers.
Buttigieg met with the picketers at around noon at Stop & Shop's store in Malden. The candidate was already planning a campaign state in nearby New Hampshire.
- Former Vice President Joe Biden and Sens. Bernie Sanders (I-Vt.) and Elizabeth Warren (D-Mass.) have already showed solidarity with the strikers ahead of the primary, where labor groups will play a major role.
- Thousands of Stop & Shop union workers went on strike last Friday amid an ongoing contract dispute to protest against expected cuts to take-home pay, health care and other benefits.
- The United Food and Commercial Workers union says 31,000 of its members are involved in the strikes, which are taking place at several New England Stop & Shop branches.
US home construction slips in March: From the Associated Press: "U.S. home construction slipped 0.3% in March, as housing starts are running below last year's pace in a sign that inventory could be a challenge for would-be buyers.
"The Commerce Department said Friday that ground breakings last month occurred at a seasonally adjusted annual rate of 1.14 million. So far this year, starts have fallen 9.7%. Builders are pulling back from their construction of single-family houses and apartments, even though the solid job market has provided a base of demand from buyers seeking an upgrade. Nor does the supply squeeze seem likely to end soon as permits, an indicator of future activity, fell 1.7% to an annual rate of 1.27 million."
GOOD TO KNOW
- Oil refineries will be unable to match previous production levels in preparation for summer travel season, according to a report from Reuters.
- SEC Commissioner Robert Jackson Jr. called on Congress to give the agency more power to monitor risks associated with the leveraged loans market, according to Pensions & Investments.
- Rep. Richard Neal (D-Mass.), chairman of the House Ways and Means Committee, warned that any Brexit deal that undermines Northern Ireland's 1998 peace agreement could threaten a potential EU-U.S. trade deal.
- CNBC explores why "earnings and data could be proof that slowdown fears were overblown."
ODDS AND ENDS
- "Medicare for All" has tanked health care stocks, according to the New York Times.
- Uber announced Thursday night that its self-driving car unit received a $1 billion investment ahead of the tech giant's upcoming debut on the stock market.
- The holding company that formerly owned Kmart and Sears sued Treasury Secretary Steven Mnuchin and other former board members of ESL Investments accusing them of stripping Sears of assets ahead of a bankruptcy filing.