Trump Heads to Capitol Hill as CFPB Showdown Continues
President Trump is heading to Capitol Hill today to promote his proposed tax bill, which would shower billions of dollars of tax cuts on the wealthiest Americans, including President Trump’s own family. The Congressional Budget Office says the Senate’s version of the tax bill would hurt people making less than $30,000 a year, while giving major tax cuts to those making more than $100,000 a year. A provision of the Senate bill would also eliminate a key part of the Affordable Care Act, the requirement that Americans have health insurance or pay a penalty. The Senate Budget Committee is slated to vote on the bill today, and lawmakers are pressing for a vote in the full Senate this week.
Meanwhile, the showdown at the Consumer Financial Protection Bureau continued on Monday, as two dueling leaders — one named by Trump, and one named by the agency’s former head — both battled for control. The chaos began on Friday, when former director Richard Cordray resigned and appointed his former chief of staff Leandra English to be his successor. But then President Trump appointed his budget director Mick Mulvaney to head the agency. While serving as a South Carolina congressman, Mulvaney voted to eliminate the agency entirely. The Consumer Financial Protection Bureau was created in the wake of the 2008 financial crisis.
On Monday morning, Trump’s budget director Mick Mulvaney arrived at the Consumer Financial Protection Bureau with a bag of donuts and sent an email telling the agency’s staff to disregard all orders from English. He also said he was freezing all hiring and all rulemaking. Leandra English, meanwhile, also showed up to the office on Monday, welcomed the staff back from vacation, then met with lawmakers on Capitol Hill. Later in the day, English and Mulvaney appeared before a federal judge, arguing each was the true head of the agency. The judge, a recent Trump appointee, refused to rule immediately, meaning the showdown continues into today.