Overnight Finance: What shutdown?

BREAKING: SENATE MOVES ON ‘CLEAN’ FUNDING BILL: Congress took one step closer to avoiding a government shutdown late Monday, when the Senate cleared a procedural hurdle on legislation funding the government through Dec. 11. The measure is free of contentious language that would block funds for Planned Parenthood, after an earlier funding bill targeting the group failed thanks to opposition from Senate Democrats and moderate Republicans. The bill advanced by a vote of 77 to 19, and is set for final passage likely tomorrow.

The clean bill is looking solid, particularly in the wake of Speaker John Boehner’s (R-Ohio) announcement that he would leave Congress at the end of October. Somewhat lost in the scramble that followed Boehner’s bombshell announcement Friday was the fact that before he told House Republicans he was quitting, he told them the House would move on the clean funding bill.

{mosads}Conservatives will assuredly try to push for additional conservative priorities, but with Boehner’s backing, a clean CR looks likely to pass with bipartisan support and head to the president’s desk. http://bit.ly/1FE0KTg

Of course, the lack of drama surrounding the shutdown has been supplanted by the “Game of Thrones” maneuvering in the House to fill the Boehner vacuum. More on that below.

THIS IS OVERNIGHT FINANCE, I’m Pete Schroeder, moonlighting once more for Kevin Cirilli. Tweet @peteschroeder; email: pschroeder@digital-staging.thehill.com; and subscribe: http://digital-staging.thehill.com/signup/48.

TRUMP PLAYS TAXMAN: The GOP frontrunner fleshed out his policy portfolio Monday, unveiling a tax plan. From our own Bernie Becker:

GOP front-runner Donald Trump rolled out a plan Monday that would slash the top corporate tax rate by more than half while also dropping millions from the income tax rolls.

Trump has talked up his tax plan for weeks, noting over and over that he would raise taxes on Wall Street executives who he believes are paying entirely too little to the Treasury.

In his plan, the billionaire businessman does target the carried interest provision prized by investment fund managers, in one of several proposals that appear aimed at tapping into the populist anger of the moment.

But in other ways, Trump’s tax plan fits comfortably within decades of GOP orthodoxy, based on the idea that a tax plan that sparks economic growth will help struggling middle-income families, and overlaps with plans released by other candidates, like former Florida Gov. Jeb Bush. http://bit.ly/1h4CluH

THAT TRUMP-IAN FLAIR: In addition to talk of eliminating the carried interest deduction and the estate tax, no tax policy plan from Donald Trump would be complete with a dose of showmanship and bravado. Trump said that individuals making less than $25,000 and couples under $50,000 wouldn’t have to pay income tax under his plan. Instead, they would have to send a one-page form to the IRS, declaring, “I win.”

SPEAKER SHUFFLE, MONDAY EDITION: Plenty of news on the House GOP leadership front after a week of jockeying among the chamber’s heavyweights.

MCCARTHY — IN: House Majority Leader Kevin McCarthy (R-Calif.) surprised absolutely no one by officially declaring his bid to become the next House Speaker late Monday. Cristina Marcos and Scott Wong:

House Majority Leader Kevin McCarthy (R-Calif.) on Monday formally launched his bid to replace John Boehner (R-Ohio) as Speaker at the end of October.

“We can’t ignore the differences that exist, but we can and must heal the divisions in our conference with work, time, and trust. That is why I have decided to run for Speaker of the House and graciously ask for your support,” McCarthy wrote in an email to House Republicans. http://bit.ly/1OCREsQ

HENSARLING — OUT: House Financial Services Committee Chairman Jeb Hensarling (R-Texas) took the weekend to decide if he wanted to make a run at GOP leadership, and decided to pass. The Hill’s Scott Wong with the scoop:

Conservative Rep. Jeb Hensarling (R-Texas), chairman of the powerful Financial Services Committee, won’t run for leadership, a senior GOP source said Monday.

Hensarling will pass on a bid for both Speaker and majority leader following Ohio Republican John Boehner’s surprise announcement Friday that he would relinquish the Speaker’s gavel and step down from Congress on Oct. 30.

He will instead back a fellow conservative, Budget Chairman Tom Price (R-Ga.) in the race for majority leader, the No. 2 job, according to a senior GOP lawmaker who received a call from Hensarling over the weekend. http://bit.ly/1KGqZHS

TWICE SHY: Anyone with a sense of déjà vu around Hensarling’s announcement? The last time the House GOP went through a leadership shakeup in the wake of Eric Cantor’s stunning primary loss, Hensarling went through a nearly identical process. Despite conservative backing for a leadership bid, Hensarling twice now has agreed to spend a few days considering a campaign, before ultimately opting against it.

PRICE — RISING: House Budget Committee Chairman Tom Price (R-Ga.) had a good Monday for his campaign in a competitive race for majority leader. He pulled in top endorsements from powerful House Republicans that don’t lack for conservative buy-in. In addition to Hensarling, House Ways and Means Chairman Paul Ryan (R-Wis.) announced he was Team Price. Cristina Marcos with the story:

Rep. Paul Ryan (R-Wis.), chairman of the Ways and Means Committee, threw his support behind Price on Monday afternoon, giving his candidacy a major boost.

“Tom Price is a committed conservative and a good friend. He and I have served for years together on the Budget and Ways and Means Committees, working to pay down our debt, fix our tax code, and grow our economy,” Ryan said in a statement.

“Tom has a proven record of advancing conservative solutions and principles. He has the knowledge and skills needed to be an effective Majority Leader, and I’m proud to support him,” the 2012 vice presidential candidate added. http://bit.ly/1Gdd4EY

THE COMPETITION: While Price secured some hefty endorsements Monday, he has plenty of competition for the Majority Leader position. Majority Whip Steve Scalise (R-La.), GOP Conference Chairwoman Cathy McMorris Rodgers (R-Wash.), and former chief deputy whip Peter Roskam (R-Ill.) are all potentially gunning for the job as well.

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