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

DposNews - April 24, 2019 - puck

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THE BIG DEAL–Treasury misses second Dem deadline on Trump tax returns: The Treasury Department on Tuesday missed a second deadline from House Democrats to provide President TrumpDonald John TrumpRussia’s election interference is a problem for the GOP Pence to pitch trade deal during trip to Michigan: report Iran oil minister: US made ‘bad mistake’ in ending sanctions waivers MORE‘s tax returns.

Treasury Secretary Steven MnuchinSteven Terner MnuchinDems plot next move in Trump tax-return battle 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 B investment for self-driving cars Former Sears holding company sues ex-CEO, Mnuchin and others over ‘asset stripping’ MORE said that the department can’t act on the request “unless and until it is determined to be consistent with law.” He said that he expects Treasury to provide the House Ways and Means Committee with a final decision by May 6.

House Ways and Means Committee Chairman Richard NealRichard Edmund NealOvernight Health Care: Social Security won’t be able to fund full payouts by 2035 | Drug companies under scrutiny from Congress boost lobbying | US on pace to break record for measles cases On The Money: Cain withdraws from Fed consideration | Says he didn’t want ‘pay cut’ | Trump sues to block subpoena for financial records | Dems plot next move in Trump tax-return battle Social Security won’t be able to fund full payouts by 2035 MORE (D-Mass.) had given the IRS until Tuesday at 5 p.m. to comply with his request for six years of Trump’s personal and business tax returns. Neal said earlier this month that he would view a failure to provide the returns by the deadline as a denial of his request.

Neal said in a statement Tuesday that he plans “to consult with counsel about my next steps.”

The Hill’s Naomi Jagoda tells us what to expect.

LEADING THE DAY

Waters: ‘We must impeach Putin’s president Trump’ Rep. Maxine WatersMaxine Moore WatersHarris says Congress should take steps toward impeaching Trump On The Money: Cain withdraws from Fed consideration | Says he didn’t want ‘pay cut’ | Trump sues to block subpoena for financial records | Dems plot next move in Trump tax-return battle Dems seek to rein in calls for impeachment MORE (D-Calif.) on Tuesday renewed her call for President Trump’s impeachment, a day after House Democratic leadership sought to rein in efforts to remove the president.

Waters said Tuesday in a series of tweets that the House must begin impeachment proceedings against Trump by passing a resolution through the House Judiciary Committee to start the process.

“How can you know the enemy Russia is undermining our democracy & say & do nothing? If you don’t care, I do,” Waters tweeted Tuesday. “We must impeach Putin’s president Trump!”

I’ve got more on Waters’ call to action here.

The financial angle: Waters, chairwoman of the House Financial Services Committee, was the first elected official to call for Trump’s impeachment and the highest-ranking Democrat to support launching House proceedings into the matter.

She is also leading an investigation through the Financial Services panel into Trump’s finances and potential connections to Russian oligarchs.

Waters and Rep. Adam SchiffAdam Bennett SchiffOn The Money: Cain withdraws from Fed consideration | Says he didn’t want ‘pay cut’ | Trump sues to block subpoena for financial records | Dems plot next move in Trump tax-return battle Pelosi downplays impeachment post-Mueller report Pelosi, Dems struggle to find unity in Mueller response MORE (D-Calif.), chairman of the House Intelligence Committee, launched their joint investigation with a primary focus on the broader issue of Russian money laundering. But as I wrote on Sunday, the probe is inextricably linked to Democratic claims of conspiracy between the Trump campaign and Russia to influence the 2016 election, so buckle up.

The political background:

House Democrats are divided on how to respond to Mueller’s report, which revealed a slew of details highlighting Trump’s response to the investigation into Russian meddling with the 2016 election.

Democratic leaders, including Speaker Nancy PelosiNancy Patricia D'Alesandro PelosiPence to pitch trade deal during trip to Michigan: report Julián Castro: Trump should be impeached for trying to obstruct justice ‘in very concrete ways’ Swalwell on impeachment: ‘We’re on that road’ after Mueller report MORE (Calif.), have urged caution and warned colleagues against rushing to impeachment ahead of the 2020 election.

“I do believe that impeachment is one of the most divisive forces, paths that we could go down to in our country. But if the facts, the path, fact-finding takes us there, we have no choice. But we’re not there yet,” Pelosi said Tuesday at the Time 100 Summit.

But Democrats who’ve long called for Trump’s impeachment, including Waters, say the Mueller report contains more than enough reasons to begin the process.

“How can you know the enemy Russia is undermining our democracy & say & do nothing? If you don’t care, I do,” Waters tweeted Tuesday.
The Hill’s Mike Lillis and Cristina Marcos have more on the Catch-22 facing Democrats over impeachment: Speaker Nancy Pelosi’s (D-Calif.) near-term effort to tamp down talk of impeaching President Trump could have the paradoxical effect of building support for that very step.

Sherrod BrownSherrod Campbell BrownOnly four Dem senators have endorsed 2020 candidates Budowsky: 2020 Dems should debate on Fox Overnight Health Care: How 2020 Dems want to overhaul health care | Brooklyn parents sue over measles vaccination mandate | Measles outbreak nears record MORE asks Trump Fed pick why he referred to Cleveland, Cincinnati as ‘armpits of America’: Sen. Sherrod Brown (D-Ohio) on Tuesday pressed Stephen Moore, who President Trump floated for a spot on the Federal Reserve Board, about when Moore once called Cleveland and Cincinnati “armpits of America.”

“Why did you say that Cincinnati and Cleveland are the armpit of America? Please provide a list of other towns in the Midwest and the rest of the country that you believe also match the description of the ‘armpit of America,'” Brown, ranking member of the Senate Banking Committee, wrote in a letter to Moore.

Moore made the comments in 2014 while speaking at a discussion hosted by the Heartland Institute.

“Chicago is a world-class city … If you live in the midwest, where else do you want to live besides Chicago? You don’t want to live in Cincinnati or Cleveland or these armpits of America like that. You want to live in Chicago,” Moore said at the time.

Brown demanded an apology from Moore for the comments about his home state, which he called “disqualifying.”

Some context: It’s unclear if Moore will even be nominated at this point, and there’s no universe in which Brown would vote for him anyway. But if Moore is nominated, he’ll have to appear before the Senate Banking Committee for a confirmation hearing. Insulting the home state of the top Democrat on that panel is a really good way to have a miserable hearing, and Brown is known for praising Ohio in every conceivable opportunity–including when he was in a car wreck.

GOOD TO KNOW

Stock markets on Tuesday closed at record highs following news of strong corporate earnings, completing a months-long recovery from a slump that started in late 2018.

President Trump’s top economic adviser said Tuesday that he does not think recently imposed sanctions on Iranian oil sales will drive up U.S. gas prices.

State governments are collecting more in tax revenues than their pre-recession peak, thanks to both a booming economy and the 2017 Republican tax cuts, according to a new report.

The Consumer Financial Protection Bureau (CFPB) said Tuesday it will share more information with banks and lenders about potentially illegal actions when the agency begins investigating those firms.

Vice President Pence will travel to Michigan on Wednesday to meet with auto industry workers and push the United States-Mexico-Canada Agreement (USMCA), which faces an uncertain path to ratification in Congress.

Residents of South Bend’s low-income neighborhoods say Mayor Pete ButtigiegPeter (Pete) Paul ButtigiegAndrew Cuomo: Biden has best chance at ‘main goal’ of beating Trump Poll: Buttigieg tops Harris, O’Rourke as momentum builds Buttigieg responds to accusation of pushing a ‘hate hoax’ about Pence MORE left them behind, according to CNBC.

Wells Fargo’s annual shareholder meeting “was repeatedly interrupted on Tuesday by angry shareholders protesting the scandal-ridden bank’s consumer abuses,” according to CNN.

ODDS AND ENDS

Vice President Pence has reportedly refused repeated requests for information about his tax returns since taking office, despite releasing returns through 2015 during the 2016 presidential race.

President Trump met Tuesday at the White House with Twitter CEO Jack Dorsey, who leads the social media platform used and criticized by the commander in chief.