Schumer's plan to stop the wall - Axios
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Schumer's plan to stop the wall

Christian Torres / AP

Chuck Schumer has concluded that denying President Trump his wall is perhaps the surest major defeat Democrats can hand the President in his first year.

Trump needs 60 Senate votes to fund construction of his "great wall" along the Southern border. Unlike healthcare or tax reform, Republicans can't use the budget process to ram the wall funding through Congress using only Republican votes.

  • Schumer's thinking: There's nothing the Republicans would be willing to offer that could get Trump the eight Democratic Senators he needs to fund the wall. Mitch McConnell's only other option would be to invoke the nuclear option and bypass the filibuster. But Democratic appropriators are betting the Republican leader won't be willing to undermine such a fundamental Senate tradition just to pay for Trump's wall.
  • The evolving plan, being discussed by Schumer's office and Senate appropriators: If Republicans put money for the wall into a bill, Democrats block it. It doesn't matter what else is in the bill — Schumer will make it about the wall. The way Democrats see it, if they can block the wall, they'd crush a central feature of Trump's political identity. And as the face of the strategy, Schumer would thrill the Democratic base (though less so the red-state Democratic senators up in 2018).
  • What happens next: Team Trump knows it's not going to be easy to fund the wall. A source familiar with the administration's plans says the preferred strategy would be to attach the wall funding to the bill that funds the military. That way, Republicans could tell the public that Schumer and the Democrats are blocking money not only for border security but for our troops. They'll run relentless attack ads against Senate Democrats up for re-election in 2018 in states that Trump won.
  • What happens if Schumer wins: A second source familiar with the administration's thinking said that even if Democrats block funding, the administration will find ways to get by in the short term. "We have enough money to get a decent amount of the wall done in first year," the source said. "We can reprioritize some funding within [the Department of Homeland Security]. ... It's not like work would come to a complete halt."
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Trump's Tucker interview: highlights

Mark Humphrey / AP

Five key grabs from President Trump's interview Wednesday night with Fox News' Tucker Carlson:

  1. Trump described the current healthcare plan — which Paul Ryan viewed as a closed-to-finished product — as "very preliminary." Trump agreed with Tucker that a lot of things in the bill aren't consistent with his campaign message of helping the struggling workers, "but these are going to be negotiated."
  2. Trump revealed a willingness to walk away from healthcare reform if the bill doesn't "take care of the people." "If we're not going to take care of the people, I'm not signing anything. I'm not going to be doing it, just so you understand."
  3. The President sees himself as "an arbitrator" in the bitter healthcare fight between the various factions of the Republican Party. "We have the conservatives, we have the more liberal side of the Republican Party... we got a lot of fighting going on..."
  4. He's going to buy off Democrats with "goodies" in phrase three of Obamacare repeal and replace. He'll propose legislation — possibly a separate bill — "for the bidding of medicine." "We're going to bring the cost of medicine way down, prescription drugs and drugs."
  5. Trump still won't apologize for his unsubstantiated claim that Obama wiretapped him. Numerous lawmakers with access to classified information, including House Intelligence chair Devin Nunes, say Trump was wrong. Yet here's what Trump told Tucker: "If you watched the Bret Baier and what he was saying and what he was talking about and how he mentioned the word wiretap, you would feel very confident that you could mention the name."
Our big takeaway: Trump is far more open than House leadership to negotiating the details of the Obamacare replacement plan. It's striking that he called the current bill "very preliminary." No wonder such mixed messages were flying around Capitol Hill this afternoon.
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Trump suggests going "all the way" on travel ban after judge order

At a rally tonight in Tennessee, the president reacted to a Hawaii judge halting his new "watered down" travel ban and went a touch further, saying "I think we ought to go back to the first one and go all the way":

Why it matters: As NYTimes reporter Maggie Haberman noted on Twitter: "What Trump just said is among the worst things he could have said if his goal was to make his travel E.O. legal."

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Paul Ryan admits his bill needs changes to pass the House

Andrew Harnik / AP

After a private meeting of House Republicans, Speaker Paul Ryan told reporters his repeal and replacement legislation needs to be changed in order to pass through the House, according to The Washington Post.

"Now that we have our score ... we can make some necessary improvements and refinements to the bill."

He did not dive into what those changes might be, but VP Mike Pence backed him up and said changes are in the pipeline.

Why it matters: There are now enough defectors to seriously threaten the bill's fate on the House floor. If it was voted on as-is, it would almost certainly fail. Wednesday's comments mark a change in tune from Ryan, who previously seemed resistant to changes.

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Federal judge halts Trump's travel ban 2.0 nationwide

Marco Garcia / AP

A U.S. judge in Hawaii granted a motion today for a temporary restraining order on Trump's revised travel ban. The ban was supposed to go into effect tomorrow. The judge called the evidence supporting Trump's order "questionable" and rejected "the balance of equities and public interests" as he suspended implementation of the order nationwide.

"...the court cannot find the actions taken during the interval between revoked Executive Order No. 13,769 and the new Executive Order to be 'genuine changes in constitutionally significant conditions' ... Plaintiffs have shown a strong likelihood of succeeding on their claim that the Executive Order violates First Amendment rights under the Constitution."
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Walmart said to acquire online women's retailer ModCloth

Jae C. Hong / AP

Jet, a online division of Walmart, has acquired ModCloth, an online retailer of women's fashion known for its quirky vintage aesthetic, as Jezebel first reported.

Despite having been around for 15 years, ModCloth has reportedly struggled to make a profit and raise additional funding on top of the nearly $80 million it's raised in total. It's unclear how much Walmart paid for the company.

Why it matters: This latest acquisition is helping to paint a picture of Jet's—and by extension, Walmart's—strategy for online retail. Instead of building out every possible category in-house, Jet and Walmart are looking to cobble together specialized retailers with their own brands. Prior to its sale to Walmart in September, Jet acquired online furniture seller Hayneedle, and has since added shoe seller ShoeBuy and outdoor apparel retailer Moosejaw.

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Paul Ryan won't say if AHCA can pass House

J. Scott Applewhite / AP

Paul Ryan on the AHCA last Thursday: "It really comes down to a binary choice. This is the closest we will ever get to repealing and replacing Obamacare. The time is here. The time is now."

Paul Ryan when asked on CNN if the bill could pass the House today: "That's — no offense, that's kind of a goofy question…"

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Tesla to offer $250 million in common stock

Pixabay

The electric car maker announced on Wednesday offerings of $250 million in common stock and $750 million in convertible senior notes due in 2022. Tesla CEO Elon Musk will purchase $25 million in common stock, the company added.

Tesla plans to use the money to "strengthen its balance sheet," help finance the upcoming launch of its Model 3 car, and for general corporate purposes.

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GoPro plans to cut 270 jobs in restructuring

GoPro

Action camera maker GoPro announced Wednesday that it is cutting 270 jobs as it seeks to reduce operating expenses by $200 million and achieve its goal of reaching profitability this year.

The move comes as the company has struggled to boost demand for its core products while also encountering big headaches with the Karma, its first entry in the drone space. It had to recall the first batch while the re-released Karma still isn't getting high marks from reviewers.

On a brighter note: GoPro said it expects first quarter revenue will be at the upper end of its prior target of $190 million to $210 million.

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$1.9B "pink slime" suit against ABC News cleared for trial

A $1.9 billion defamation lawsuit against ABC News for referring to a South Dakota company's meat product as "pink slime" is going to trial after a South Dakota judge ruled that ABC journalists "were reckless" in their reporting and that "they engaged in purposeful avoidance of the truth."

The judge dismissed a five-year-old defamation suit against Diane Sawyer but left open cases against several other journalists, include Emmy-winning reporter Jim Avila. The "pink slime" controversy gained national attention for crippling the beef company, and affecting employment. The network has repeatedly defended its reporting, calling the suit meritless.

Why it matters: The case is another First Amendment test for the media, and will further define the scope of food libel laws across the country. The South Dakota food libel law that this suit is based on triples the amount of reported damages if a news organization knowingly lied about food safety claims, meaning ABC could be looking at up to $5.7 billion in charges.

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Trump: "The assault on the American auto industry is over"

Evan Vucci / AP

Trump announced he and the EPA are re-examining midnight hour Obama-era federal requirements on fuel economy standards requiring a fleet-wide average of 36 mpg in real-world driving by 2025 for cars and trucks. A rollback is expected no later than April 2018.

"The assault on the American auto industry is over," as Trump put it in his speech at a former GM plant that's part of the American Center for Mobility, which is a staging ground for self-driving vehicles.

Trump told auto CEOs that they "have to build plants here." He added, "I know I gave you a hard time but you have to build them here," according to The Washington Post. He also gave a classic campaign-style speech, harping on NAFTA and the TPP.

Trump is en route to Nashville to lay a wreath on Andrew Jackson's tomb to mark what would be his 250th birthday.

What to watch: Trump announced he will have a "big" auto industry announcements next week about jobs.