Happy Monday and welcome back to On The Money, where we hope you’ll pardon us for taking Thursday and Friday off this week. I’m Sylvan Lane, and here’s your nightly guide to everything affecting your bills, bank account and bottom line.
THE BIG DEAL—Trump directed Treasury, DOJ to address Erdoğan ‘concerns’ about Turkish bank: President Trump asked multiple federal agencies to address Turkish President Recep Tayyip Erdoğan’s “concerns” that Turkey’s state-owned bank would be under threat of U.S. sanctions, according to a response from the Treasury Department to a senior Democratic senator.
It is the first public U.S. admission of Trump directing Cabinet officials, in this case in Treasury and the Department of Justice, to involve themselves with Erdoğan’s concerns around Halkbank, a Turkish state-owned bank indicted last month by federal prosecutors for allegedly funneling billions of dollars to Iran in violation of U.S. sanctions.
It also raises questions about how Trump’s personal relationships and business dealings influence his foreign policy decisions, at a time when his dealings with Ukraine are under scrutiny as part of a formal impeachment inquiry led by House Democrats.
The Hill’s Laura Kelly explains why here.
LEADING THE DAY
Democrats target housing shortage as advocates warn of crisis: The severe national shortage of affordable homes and deepening homelessness crises across the U.S. have thrust housing policy into the center of the Democratic presidential primary.
- Affordable housing advocates estimate that the U.S. lacks roughly 7 million affordable homes or apartments needed to house low-income Americans.
- Diane Yentel, president and CEO of the National Low Income Housing Coalition, explained that for every 10 low-income renters in the U.S., there are fewer than four homes within their price range.
“There is no state or major metropolitan area or community that has a sufficient supply of homes for its lowest-income renters,” Yentel said.
“The fact that more and more people are either seeing the effects of the housing crisis in their communities or they’re feeling it themselves is increasing the pressure on policymakers to put forward solutions,” she added.
I explain how it’s influencing the Democratic presidential primary, where the candidates overlap and differ, and how it compares to Trump’s housing policy.
Blue Dogs issue new call for House leaders to abide by pay-go rule: The Blue Dog Coalition of centrist Democrats on Monday stepped up its push for House Democratic leaders to abide by the chamber’s pay-as-you-go rule and only advance legislation that is fully offset.
The coalition sent a letter to House Speaker Nancy Pelosi (D-Calif.), House Majority Leader Steny Hoyer (D-Md.) and House Rules Committee Chairman Jim McGovern (D-Mass.) after 12 lawmakers in the centrist group last week voted against waiving the pay-go rule for a bill focused on tackling workplace violence in the health care and social services sectors.
“Last week, our members sent a clear message: The House must abide by PAYGO to prevent our fiscal state from getting worse,” the Blue Dogs Coalition said in its letter.
The rule that waived pay-go for the workplace violence prevention bill passed narrowly despite objections from the Blue Dog lawmakers. The bill itself passed with no Democrats voting against the measure.
GOOD TO KNOW
- McDonald’s will settle a class-action lawsuit brought by workers over wages and working conditions in California for $26 million, according to The Associated Press.
- The chances of a recession in the coming 12 months have dropped, according to ratings agency S&P Global.
- The Texas and Nevada attorneys general announced settlements with T-Mobile over the company’s planned merger with Sprint on Monday as a coalition of states continues to push to stop the deal.