Overnight Finance: Dems demand probe into Trump businesses | WTO rules against Boeing | Fed braces for change – The Hill
In a letter to Chairman Jason ChaffetzJason ChaffetzOvernight Finance: Dems demand probe into Trump businesses | WTO rules against Boeing | Fed braces for change Issa declared winner after reelection battle House Dems call for ‘urgent’ investigation into Trump businesses MORE (R-Utah), the Democrats said the panel should look into how Trump plans to protect against conflicts of interest when he takes office. They also asked Chaffetz to request the release of Trump’s tax returns, which the president-elect has refused to make public.
“You have the authority launch a Committee investigation, and we’re calling on you to use that power now,” wrote the Democrats. “Mr. Trump’s refusal to release his tax returns has already demonstrated a troubling lack of accountability and transparency, making it even more critical that the Committee conduct rigorous oversight right away — before he is sworn in as president.” I’ve got it all here: http://bit.ly/2fKcPxp.
WTO rules against tax break for Boeing: The World Trade Organization ruled Monday that a huge tax break given to the aerospace giant Boeing by Washington state violates trade agreements between the United States and the European Union.
But, in a nuanced decision, the WTO said the improper incentives amounted to just a fraction of what Boeing’s main competitors claimed, leaving billions in incentives and credits in place until 2040.
Boeing received the tax breaks in 2013 as part of a negotiation between the company and Washington officials that guaranteed thousands of jobs would stay in the Puget Sound region, where Boeing was founded. The Hill’s Reid Wilson explains: http://bit.ly/2fFR9zg.
Sanders presses Trump with anti-outsourcing legislation: Sen. Bernie SandersBernie SandersNH Dem chair to enter DNC race Tuesday: report ‘Fake news’ isn’t the problem — mainstream news with an agenda is Overnight Finance: Dems demand probe into Trump businesses | WTO rules against Boeing | Fed braces for change MORE (I-Vt.) said Saturday he will introduce legislation aimed at preventing major companies from sending jobs to foreign countries, similar to what President-elect Donald Trump proposed on the campaign trail.
Sanders pointed to Trump’s promise to prevent Carrier, an air conditioning manufacturer owned by United Technologies, from shifting factory jobs from Indiana to Mexico.
“I will soon be introducing legislation to make sure that Donald Trump keeps his promise to prevent the outsourcing of American jobs,” Sanders said in a statement.
“For the sake of American workers, this is a promise that cannot and must not be broken.” Here’s more from The Hill’s Harper Neidig: http://bit.ly/2gDfbNo.
Obama’s Ag secretary wants Dems to talk to rural America: President Obama’s secretary of Agriculture says Democrats need to spend more time talking to rural voters as the party seeks to recover from its loss in the presidential election.
“If Democrats show up in these places they are not going to win, but they are not going to get shellacked,” Tom VilsackThomas J. VilsackUSDA: Farm-to-school programs help schools serve healthier meals OVERNIGHT MONEY: House poised to pass debt-ceiling bill MORE told The Washington Post. “And that’s the key. It’s about not getting beat so badly.”
Vilsack is a former Iowa governor who has served as Agriculture secretary for Obama’s entire tenure. He recalled an encounter with Vice President Biden just after Election Day where he talked about the party’s lack of outreach to rural voters.
“We need to speak more directly to our folks in rural America,” Vilsack said he told Biden. “And we have to spend time there.” Here’s more from The Hill’s Mallory Shelbourne: http://bit.ly/2fK4cDi.
Happy Monday and welcome to Overnight Finance, where we’re shaking off turkey naps. I’m Sylvan Lane, and here’s your nightly guide to everything affecting your bills, bank account and bottom line.
Tonight’s highlights include the future of the Fed under Trump, what’s next for the Export-Import Bank, and K Street’s tax reform boom.