OVERNIGHT MONEY: A mock-up?

Sen. Orrin Hatch (R-Utah), the ranking member on Finance, has suggested that the Senate would watch how the House handles TAA, since including it in the Korean deal is just as unpopular with Speaker John Boehner (R-Ohio). 

Still, it was Rep. Dave Camp (R-Mich.), the House Ways and Means chairman, who extracted the compromise from the White House on this most recent expanded version of TAA, which he argues includes concessions that eliminates parts of the 2009 additions to the program and reduces its costs.

{mosads}At a Thursday news conference, Hatch said that if the White House wants to “bring it up TAA on its own merits, it may very well pass.”

“I question whether it will, but it may pass,” he said. “But to link it to the Korean free trade agreement is very offensive in every way. And it’s a bad precedent to start.”

The senators also expressed concern that including TAA in the deal could negate “fast-track” authority – which guarantees that, once the trade deals are submitted to Congress by President Obama, they can’t be amended and must receive up-or-down votes. 

The Obama administration and Democratic supporters will likely cite the provision of fast-track authority that permits including “necessary and appropriate” provisions.

Looking forward, House Ways and Means hasn’t announced a mock mark-up of its own for next week, but it remains a possibility.

And Hatch said he thought the House would take separate votes on the three treaties and that  “they may very well take up the TAA separately.” 

“Because we’re unified as Republicans that TAA should not be attached to the Korean free trade agreement,” he said. 

WHAT ELSE TO WATCH FOR:

About those 33 days: Obama has said this is a “hard deadline,” but Jay Carney, the White House press secretary, stated Thursday that career officials at Treasury would make the call. The department has said that the deadline may move a few days, and that announcement could come as soon as tomorrow.

It’s on: The Senate, as anticipated, will be in session next week, and Democrats will meet early on to examine a new draft budget from Sen. Kent Conrad (D-N.D.), the Budget chairman.

Conrad told reporters on Thursday that he was set to brief Democratic leadership on the plan on Tuesday, and that he was likely to discuss it with the whole caucus either that same day or Wednesday.

Senators are expected to take the floor to highlight their approach that week as well, Sen. Bill Nelson (D-Fla.) said.

Conrad was cagey with reporters about what his budget will contain, but did imply that it would take quite a whack at tax expenditures. The North Dakota Democrat referenced the conservative economist Milton Friedman on Thursday to press his point that tax credits and deductions were little different from spending. 

Also on the horizon: Democrats also want to meet on Wednesday with the president and vice president next week to help move the process forward.  Economic officials within the administration are expected to make the trip to Capitol Hill on Thursday, Senate Majority Leader Harry Reid (D-Nev.) said Thursday.

As you may recall, GOP senators gave the president an invitation to come up to the Hill today to discuss what would be needed in a deal to raise the $14.3 trillion debt ceiling. 

The Friday daybook: We’ll be honest. It’s thin.

Social Security defenders are holding a conference call to blast the proposal to fiddle with the cost-of-living adjustment in a deficit-reduction deal.

And Vice President Joe Biden, in what could get lively, is set to address a Teamsters convention. In Las Vegas.

Economic indicators:

— The University of Michigan’s Consumer Sentiment Index is scheduled for release. 

— Commerce is set to drop construction spending figures, a typically volatile report subject to sweeping revisions and thus rarely a big impact on the markets.

— End-of-month auto sales are expected from individual automakers, with seasonal factors being released by the Commerce Department. Reports from the automakers are typically released over the course of the first three business days of the month. Using the individual reports, a total annual sales pace can be calculated after applying Commerce Department seasonal factors. It is this annual sales pace that the market refers to when discussing auto and truck sales for the month.

BREAKING THURSDAY:

Will he stay or will he go now?: Following reports that he may seek to exit after a debt ceiling deal, Treasury Secretary Timothy Geithner said Thursday that he’s staying put for the “foreseeable future.”

The Durbin effect: Sen. Dick Durbin (D-Ill.), the chamber’s No. 2 Democrat, told Bloomberg he has discussed including a change in tax deferral rules in the debt-ceiling deal. 

Boo!: The bipartisan group No Labels slammed President Obama for passing up today’s meeting with Senate Republicans, on the same day he traveled to Philadelphia to raise money. 

“Dangerous game”: That’s what Sheila Bair, the outgoing FDIC chief, called talk of not raising the debt ceiling, The Wall Street Journal reports. 

WHAT YOU MIGHT HAVE MISSED:

On the Money’s Thursday:

Standard & Poor’s: They’ll raise the debt ceiling.

Bill Clinton on Dodd-Frank: Slow down, you’re moving too fast.

House Dems remain skeptical of Colombia trade pact.

Daniel Inouye: It’s not spending’s fault.

A temporary unemployment tax walks into the sunset – after 35 years.

Corporate jet alert! Aircraft groups favor Republicans.

Foreign-based companies like new U.S. investment initiative. 

And weekly claims show little change. 

Feedback, please, to bbecker@digital-staging.thehill.com