The decision to completely block the memo's release - rather than redact particular excerpts objected to by law enforcement and intelligence agencies - could give further ammunition to critics who say the president is politicizing the process.
"We hope this matter can be quickly resolved so the committee can return to its charge - fully investigating the Russian interference in our election and the role of the Trump campaign, " he added.
"Unlike the Republicans, we gave the Federal Bureau of Investigation and the Department of Justice our memo even before we took it up into committee, and invited their feedback as to any concerns over sources and methods", Schiff said.
Democrats, of course, are outraged.
On Monday, the House of Representatives Intelligence Committee voted unanimously to declassify the 10-page Democratic memo, which aimed to counter the Republican document. "@RealDonaldTrump is not interested in transparency, he is interested in protecting himself and derailing the Russian Federation investigation".
The head of the House committee, Rep. Devin Nunes, R-Calif., who produced the GOP memo, encouraged Democrats to accept the Justice Department's recommendations and "make the appropriate technical changes and redactions".
The FBI may be guilty of some politics in the so-called Trump-Russia collusion case, said former Utah Republican Rep. Jason Chaffetz, sitting-in for host Laura Ingraham on Fox News' "The Ingraham Angle" on Friday night. "All we can do is make criminal referrals", the California Republican said.
"The executive branch stands ready to review any subsequent draft of the February 5 memorandum for declassification at the earliest opportunity", McGahn wrote to the committee.
He has also reportedly been seeking ways to fire Deputy Attorney General Rod Rosenstein, the only person empowered to dismiss the man undertaking the investigation, special counsel Robert Mueller - and hence derail, or seriously impede, the probe. "The president doesn't want the public to see the underlying facts", Schiff said Sunday on CBS's "Face the Nation".
But some Hill and Justice Department veterans are puzzled by this whole mess.
Democrats warn this does not just amount to a double standard, but also reflects a pattern of attempts by the President to frustrate the investigation because he has something to hide. And Schumer asked, what is Donald Trump hiding? But without the president's support, that seems less likely.
"The President is inclined to declassify the memo", she said on ABC's "This Week", claiming that as written, it reveals intelligence sources and methods while the Republican document did not.
The dossier was used by the government to persuade the Foreign Intelligence Surveillance Act court to issue warrants for wiretapping Carter Page, a former volunteer Trump campaign aide who worked briefly on the election effort.
The White House has said it will reconsider the document once changes are made - but Democrats quickly accused President Trump of "hypocrisy". "We're going to release a letter". But Nunes said the disclosure still fell short.