On 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

On 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

Happy Thursday and welcome back to On The Money, where we're getting ready to hibernate after next week. 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 strike spending deal to avert shutdown: Lawmakers reached a deal in principle Thursday on 12 annual spending bills to fund the government and avoid a shutdown.

Appropriators reached agreement on a number of contentious issues, including how to fund President TrumpDonald John TrumpTrump marks 'very sad milestone' of 100K coronavirus deaths DOJ: George Floyd death investigation a 'top priority' Lifting our voices — and votes MORE's proposed border wall.

"We had a very good meeting, and there's a meeting of the minds, and we're going to look through some of the details, but I feel confident that we're going to have a product very shortly," House Appropriations Chairwoman Nita LoweyNita Sue LoweyLawmakers call on VA to remove swastikas from headstones in veterans cemeteries House Democrats object to Trump sending ventilators to Russia House-passed relief bill excludes lobbyists from Paycheck Protection Program MORE (D-N.Y.) said following days of negotiations.

The Hill's Niv Elis breaks it down here.  

 

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LEADING THE DAY

US, China reach partial trade deal: The U.S. and China on Thursday reached a partial trade agreement that includes scrapping tariffs set to go into effect on Sunday, according to a source familiar with the matter.

Further specifics of the limited deal were not immediately clear, and it must still be signed by President Trump and leaders in Beijing.

A statement from the White House was expected at some point Thursday evening, according to an official. The White House declined to comment.

The timing: The agreement, which was first reported by Bloomberg News, comes just days before tariffs on roughly $160 billion on Chinese goods — including cellphones, video games and certain toys — were set to increase.

Trump originally delayed those tariffs in August, saying the tariffs would go into effect Dec. 15.

What's next: The deal does not appear to address structural changes to Beijing’s economy that Trump’s White House has pushed for since the president first imposed tariffs more than a year ago, meaning the United States and China will continue negotiations in search of a broader agreement.

The politics: Even an initial deal with China, though, would deliver a win for Trump on one of his marquee issues and would come just two days after Speaker Nancy PelosiNancy PelosiHouse cancels planned Thursday vote on FISA The Hill's Morning Report - Presented by Facebook - US virus deaths exceed 100,000; Pelosi pulls FISA bill Pelosi pulls vote on FISA bill after Trump veto threat MORE (D-Calif.) said the House would take up the United States-Mexico-Canada Agreement (USMCA), another priority for the president.

The Hill's Brett Samuels and Morgan Chalfant have more on the deal here.

 

Lighthizer fails to quell GOP angst on Trump's new NAFTA: U.S. Trade Representative Robert LighthizerRobert (Bob) Emmet LighthizerGOP senator warns quick vote on new NAFTA would be 'huge mistake' Pelosi casts doubt on USMCA deal in 2019 Pelosi sounds hopeful on new NAFTA deal despite tensions with White House MORE faced pushback and a "bucket full" of questions Thursday during a closed-door caucus lunch meeting meant to sell Senate Republicans on the new trade deal with Canada and Mexico.

Republican senators stressed that they expect the U.S.-Mexico-Canada Agreement (USMCA) will have the votes to pass the Senate but acknowledged there was still opposition within the caucus and broader frustration with how the trade negotiations had been handled.

The Hill's Jordain Carney takes us there.

The bottom line: It's hard to see a situation where Republicans kill one of Trump's top legislative priorities, even if it goes against the party's traditional views on trade. Republicans know where Trump stands on trade and have been reluctant to even curb the most unpopular of his tariffs. 

 

House passes bill that would give legal status to thousands of undocumented farmworkers: The House on Wednesday passed a bill granting legal status to thousands of undocumented farmworkers.

The legislation to provide work permits for agricultural workers was approved on a bipartisan 260-165 vote.

After months of closed-door bipartisan negotiations, the Farm Workforce Modernization Act  was introduced in late October by Reps. Mario Diaz-BalartMario Rafael Diaz-BalartHillicon Valley: Uber lays off 3,000 | FBI unlocks Pensacola shooter's phones | Lawmakers introduce bill restricting purchase of airline equipment from Chinese companies Bipartisan bill would restrict purchases of airport equipment from Chinese companies Red-state cities get cool reception from GOP on relief aid MORE (R-Fla.), Zoe LofgrenZoe Ellen LofgrenPelosi pulls vote on FISA bill after Trump veto threat FISA 'reform': Groundhog Day edition Hillicon Valley: House FISA bill in jeopardy | Democrats drop controversial surveillance measure | GOP working on legislation to strip Twitter of federal liability protections MORE (D-Calif.), Dan NewhouseDaniel (Dan) Milton NewhouseGOP lawmaker introduces bipartisan guest worker bill Overnight Energy: Murkowski, Manchin unveil major energy bill | Lawmakers grill EPA chief over push to slash agency's budget | GOP lawmaker accuses Trump officials of 'playing politics' over Yucca Mountain GOP lawmaker accuses administration of 'playing politics' with Yucca Mountain reversal MORE (R-Wash.), Collin PetersonCollin Clark PetersonFrom farmers to grocery store clerks, thank you to all of our food system Group of House Democrats asks for 0 billion for testing The Hill's Coronavirus Report: Chef José Andrés says most political leaders today are not acting with urgency; Dems crafting 'Rooseveltian' relief package MORE (D-Minn.), Jimmy PanettaJames Varni PanettaThe Hill's 12:30 Report: Trump turns to lawmakers to advise on reopening Trump taps members of Congress to advise on reopening Lawmakers cry foul as Trump considers retreating from Open Skies Treaty MORE (D-Calif.), Mike SimpsonMIchael (Mike) Keith SimpsonDentists want coronavirus testing kits before reopening MLB, Congress play hardball in fight over minor leagues On 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 MORE (R-Idaho) and Doug LaMalfaDouglas (Doug) LaMalfaHouse lawmakers advocate to preserve medical funding for underserved, rural areas Overnight Energy: Panel gives chairman power to subpoena Interior | House passes bill to protect wilderness | House Republicans propose carbon capture bill | Ocasio-Cortez introduces bill to ban fracking House passes Protecting America's Wilderness Act MORE (R-Calif.).

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  • Under the proposal, the H-2A visa category for agricultural workers would be reformed to add flexibility for employers bringing in new foreign labor.
  • The bill would allow foreign workers who've worked in the U.S. agricultural sector for at least 180 days over the past two years to request five-year visas for themselves, their spouses and their minor children.

 

GOOD TO KNOW

 

ODDS AND ENDS

  • A business-backed trade group established to support President Trump's United States-Mexico-Canada Agreement (USMCA) has backed off from taking a position on the deal following compromises made by the White House in its negotiations with House Democrats.
  • Just 13 percent of workers nationwide are highly concerned about their job security, according to Prudential Financial/Morning Consult survey.