Yellen: Biden's Phased-in Spending Plan Won't Fuel Inflation
Economy
Yellen: Biden's Phased-in Spending Plan Won't Fuel Inflation

WASHINGTON (AP) — President Joe Biden's massive proposed spending on infrastructure, families and education will not fuel inflation because the plans would be phased in gradually over 10 years, Treasury Secretary Janet Yellen said Sunday. New economic reports have portrayed... Read More

New Guidance Issued on COVID Relief State and Local Governments
Treasury
New Guidance Issued on COVID Relief State and Local Governments
2021-04-16 18:41:25
by TWN Staff

WASHINGTON - The Treasury Department has released updated guidance on its pre-award requirements for state and local governments to receive direct coronavirus relief payments under the American Rescue Plan Act. It particular the guidance outlines the “immediate” steps municipalities need... Read More

Janet Yellen Wins Senate Approval as Treasury Secretary
Treasury
Janet Yellen Wins Senate Approval as Treasury Secretary

WASHINGTON (AP) — The Senate on Monday approved President Joe Biden’s nomination of Janet Yellen to be the nation’s 78th treasury secretary, making her the first woman to hold the job in the department's 232-year history. Yellen, a former chair... Read More

Awaiting Yellen at Treasury: Yet Another Daunting Crisis
Transition
Awaiting Yellen at Treasury: Yet Another Daunting Crisis

WASHINGTON (AP) — Janet Yellen is in line for another top economic policy job — just in time to confront yet another crisis. Yellen, President-elect Joe Biden's apparent choice for treasury secretary, served on the Federal Reserve's policymaking committee during... Read More

Copycat Websites, Newly Minted Companies, Double Dippers Cashed in on PPP Loans
Economy
Copycat Websites, Newly Minted Companies, Double Dippers Cashed in on PPP Loans

A suspicious online university whose curriculum appears to be cut and pasted from a European school, two companies with nearly identical websites and two others with practically no internet presence — all five of these businesses are connected to the... Read More

Postal Service, Treasury Reach Deal on $10 Billion Pandemic Relief Loan
In The News
Postal Service, Treasury Reach Deal on $10 Billion Pandemic Relief Loan
2020-07-30 14:12:52
by Dan McCue

WASHINGTON - Nearly four months after Congress approved a $10 billion loan for the struggling U.S. Postal Service as part of the CARES Act, the service and the Treasury Department have struck a deal on the terms of the loan.... Read More

GAO: Virus Relief Program Has Inadequate Safeguards; $1.4B in Relief Payments Sent to Dead People
In The News
GAO: Virus Relief Program Has Inadequate Safeguards; $1.4B in Relief Payments Sent to Dead People
2020-06-26 13:57:41
by Dan McCue

WASHINGTON - Confronted with an extraordinary public health crisis, the federal government moved with uncommon agility to bolster the economy and quickly establish services for those infected with the virus, the nonpartisan Government Accountability Office said Thursday. But in doing... Read More

Little of the $500 Billion in Relief Fund for Businesses Has Been Spent
Economy
Little of the $500 Billion in Relief Fund for Businesses Has Been Spent

WASHINGTON — The Treasury Department has disbursed less than 8% — just $37.5 billion of $500 billion — of the emergency funds that Congress approved two months ago for loans and loan guarantees to help stabilize the economy, according to... Read More

Treasury Rolls Out Airline Aid Strategy, Urging Carriers to Act Quickly
Economy
Treasury Rolls Out Airline Aid Strategy, Urging Carriers to Act Quickly
2020-03-31 17:59:31
by Dan McCue

WASHINGTON - The Treasury Department provided some guidance Monday night on how it will award grants and loans to airlines affected by the coronavirus outbreak, urging them to apply for "payroll support" by Friday. The department said the resources it... Read More

Russian ‘Evil Corp’ is Behind a Decade of Hacks, US Says
Cybersecurity
Russian ‘Evil Corp’ is Behind a Decade of Hacks, US Says

WASHINGTON — The U.S. unveiled criminal charges and sanctions against members of a hacking group that calls itself Evil Corp, which authorities blame for some of the worst computer hacking and bank fraud schemes of the past decade. The Justice... Read More

States Appeal Judge’s Decision to Toss Local Tax Deductions Lawsuit
Litigation
States Appeal Judge’s Decision to Toss Local Tax Deductions Lawsuit
2019-12-03 19:18:23
by Tom Ramstack

WASHINGTON - Four states are appealing a federal judge’s September dismissal of their lawsuit challenging federal authority to limit state and local tax deductions. In a filing before the 2nd U.S. Circuit Court of Appeals, attorneys for the states argue... Read More

US Budget Deficit Jumped By $140 Billion Through June
Federal Budget
US Budget Deficit Jumped By $140 Billion Through June
2019-07-12 14:15:05
by Dan McCue

WASHINGTON - The U.S. budget deficit increased by $140 billion during the first nine months of the current fiscal year, rising to $747.1 billion, the Treasury Department said Thursday. The department said the deficit for the current fiscal year through... Read More

House Democrats Sue Treasury Department Over Trump Tax Returns
Litigation
House Democrats Sue Treasury Department Over Trump Tax Returns
2019-07-02 19:41:57
by Dan McCue

WASHINGTON -  House Democrats sued the Trump administration in federal court Tuesday for access to President Donald Trump's tax returns, setting up a legal showdown over the records. In a complaint filed in the U.S. District Court for the District... Read More

Treasury Department Aims to Make it Easier to Buy Single-Serve Wine
Economy
Treasury Department Aims to Make it Easier to Buy Single-Serve Wine
2019-07-01 20:49:01
by Dan McCue

WASHINGTON - The Treasury Department, responding to an explosion in the sale of wine in cans and single-serve bottles, is seeking public comment of eliminating all but the minimum "stand of fill" for wine containers. In a Federal Register notice... Read More

IRS Misses Deadline On Trump Tax Returns, Setting Stage for Legal Battle
Economy
IRS Misses Deadline On Trump Tax Returns, Setting Stage for Legal Battle
2019-04-23 21:36:51
by Dan McCue

The Internal Revenue Service missed a 5 p.m. Tuesday deadline to hand copies of President Donald Trump's personal and business tax returns over to Congress, setting the stage for a potentially lengthy legal battle. In a letter to House Ways... Read More

Federal Deficit Projected to Exceed $1 Trillion By Late September
Economy
Federal Deficit Projected to Exceed $1 Trillion By Late September
2019-04-10 21:15:23
by Dan McCue

The federal budget deficit for the fiscal year to date is $691 billion and will exceed $1 trillion by the time the current budget year ends in September, the Treasury Department said Wednesday. In its monthly report on the government's... Read More

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