Key Words: Trump declaring border emergency would set ‘bad precedent’: Sen. Grassley

Sen. Chuck Grassley

With President Donald Trump signaling he may declare a national emergency to fund his proposed border wall, he’s meeting opposition from a powerful member of his own party: Senate Finance Committee Chairman Chuck Grassley.

‘I think it’s a bad precedent and it contravenes the power of the purse that comes from the elected representatives of the people.’

Sen. Chuck Grassley

The Iowa Republican, who took the top spot on the finance panel on Wednesday, spoke to CNBC as the administration was reportedly mulling the diversion of disaster relief funds to build Trump’s wall. Federal law allows the president to divert such funds.

Read: The government shutdown is now tied for the longest on record.

Grassley said negotiations are still needed to resolve the impasse over the border wall and reopen the government, which has been partially closed for three weeks. The last round of talks between Trump and Democrats broke down Wednesday, with Trump calling negotiations with House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer “a total waste of time.” Democrats have pressed Trump to reopen shuttered agencies but the president has refused, saying a broader agreement addressing border security is needed.

Republicans aren’t united on a possible declaration of emergency powers. On Thursday, South Carolina Sen. Lindsey Graham said, “It is time for President Trump to use emergency powers to fund the construction of a border wall/barrier.”

Opinion: Congressional Republicans have a role model in their game of chicken over emergency powers.

Trump told reporters on Thursday that if he has the “absolute right” to declare a national emergency. “If this doesn’t work out, probably I will do it. I would almost say definitely,” he said.

U.S. stocks DJIA, -0.27%   have shrugged off the drama in Washington, but analysts warn that the economic effects could grow if the standoff continues.

Read: The government shutdown is not hurting the economy much, but it still comes with a cost.

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