Mar 10, 2019

Trump to ask Congress for $8.6 billion in new wall funding

Photo: Tom Brenner/Getty Images

White House economic adviser Larry Kudlow confirmed reports that President Trump will ask Congress for $8.6 billion in additional funding to build a border wall as part of his 2020 budget proposal.

Why it matters: The request, first reported by Reuters on Sunday, will certainly provoke another partisan slugfest over wall funding, which led to a historic government shutdown earlier this year and a national emergency declaration after Trump failed to secure funds. The proposal will include $5 billion in funding for the Department of Homeland Security to continue building sections of the wall and $3.6 billion for the Pentagon’s military construction budget, according to Reuters.

In a statement responding to the proposal, Democratic leaders Nancy Pelosi and Chuck Schumer said: "Congress refused to fund his wall and he was forced to admit defeat and reopen the government. The same thing will repeat itself if he tries this again. We hope he learned his lesson."

Go deeper: Trump to release budget proposal with big defense spending increase

Go deeper

Situational awareness

Photo: Brett Carlsen/Getty Images

Catch up on today's biggest news:

  1. Mike Bloomberg offers to release women from 3 NDAs
  2. Wells Fargo to pay $3 billion to settle consumer abuse charges
  3. Bloomberg campaign says Tennessee vandalism "echoes language" from Bernie supporters
  4. Scoop: New White House personnel chief tells Cabinet liaisons to target Never Trumpers
  5. Nearly half of Republicans support pardoning Roger Stone

Wells Fargo agrees to pay $3 billion to settle consumer abuse charges

Clients use an ATM at a Wells Fargo Bank in Los Angeles, Calif. Photo: Ronen Tivony/SOPA Images/LightRocket via Getty Images

Wells Fargo agreed to a pay a combined $3 billion to the Justice Department and the Securities and Exchange Commission on Friday for opening millions of fake customer accounts between 2002 and 2016, the SEC said in a press release.

The big picture: The fine "is among the largest corporate penalties reached during the Trump administration," the Washington Post reports.

Bloomberg offers to release women from 3 nondisclosure agreements

Mike Bloomberg. Photo: Brett Carlsen/Getty Images

Mike Bloomberg said Friday his company will release women identified to have signed three nondisclosure agreements so they can publicly discuss their allegations against him if they wish.

Why it matters, via Axios' Margaret Talev: Bloomberg’s shift in policy toward NDAs comes as he tries to stanch his loss of female support after the Las Vegas debate. It is an effort to separate the total number of harassment and culture complaints at the large company from those directed at him personally. That could reframe the criticism against him, but also protect the company from legal fallout if all past NDAs were placed in jeopardy.