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Treasury

Tax Increases Seen As Counterproductive to Growth, Job Creation
Taxes
Tax Increases Seen As Counterproductive to Growth, Job Creation
2021-06-21 20:49:29
by Dan McCue

WASHINGTON - Of all the uncertainties growing from the prolonged negotiations over President Joe Biden’s American Families plan, the most potentially vexing for the American businesses and the economy are several proposed changes to the U.S. tax code. Though much... Read More

Navajo Nation Tops Cherokee to Become Largest Tribe in US
Treasury
Navajo Nation Tops Cherokee to Become Largest Tribe in US

FLAGSTAFF, Ariz. (AP) — The Navajo Nation has by far the largest land mass of any Native American tribe in the country. Now, it's boasting the largest enrolled population, too. Navajos clamored to enroll or fix their records as the... Read More

Treasury Department to Allocate Additional $21.6 Billion for Rental Assistance
Treasury
Treasury Department to Allocate Additional $21.6 Billion for Rental Assistance
2021-05-11 12:45:14
by Reece Nations

WASHINGTON — In coordination with the White House’s American Rescue Plan Implementation Team and the Department of Housing and Urban Development, the Department of the Treasury announced Friday it would allot $21.6 billion in additional funds for emergency rental assistance. ... 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

Yellen Encourages ‘The Age of Womenomics’
Economy
Yellen Encourages ‘The Age of Womenomics’
2021-03-10 14:23:38
by Kate Michael

WASHINGTON —Treasury Secretary Janet Yellen grew up surrounded by hardships endured during the Great Depression. Her father’s medical practice was located inside the family home, so she not only heard stories from the patients but also saw firsthand the result... Read More

Treasury Dept. Sanctions Saudis Over Khashoggi Murder
Geopolitics
Treasury Dept. Sanctions Saudis Over Khashoggi Murder
2021-02-26 20:52:02
by Dan McCue

WASHINGTON – The U.S. Treasury Department on Friday imposed sanctions on Saudi Arabia’s former deputy head of Intelligence and the nation’s “Rapid Intervention Force” for their roles in the murder of Washington Post journalist Jamal Khashoggi.  The move came just... 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

Mnuchin to Put $455 Billion in Funds Out of Yellen's Easy Reach
Economy
Mnuchin to Put $455 Billion in Funds Out of Yellen's Easy Reach

WASHINGTON — Treasury Secretary Steven Mnuchin will put $455 billion in unspent Cares Act funding into an account that his presumed successor, former Federal Reserve Chair Janet Yellen, will need authorization from Congress to use. Mnuchin plans to place the money into the agency's General Fund,... 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

Mnuchin, Powell Say Congress Needs to Pass More COVID-19 Relief
Economy
Mnuchin, Powell Say Congress Needs to Pass More COVID-19 Relief

WASHINGTON — Treasury Secretary Steven Mnuchin, Federal Reserve Chairman Jerome Powell and representatives from both parties agreed on at least one point at a hearing Tuesday: The economy needs more relief from Congress to sustain the recovery from the coronavirus.... Read More

Congress Demands Treasury Department Monitor Coronavirus Bailout Money Better
Congress
Congress Demands Treasury Department Monitor Coronavirus Bailout Money Better
2020-09-01 21:40:47
by Tom Ramstack

WASHINGTON -- Members of Congress directed tough questions at the U.S. Treasury secretary Tuesday about fraud and abuse in the Trump administration’s coronavirus relief program. They said billions of dollars intended to protect jobs and family homes were being diverted... 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

Trump, Mnuchin Push Short-Term Aid Package
Economy
Trump, Mnuchin Push Short-Term Aid Package

WASHINGTON — With prospects dim for a broader $1 trillion-plus COVID-19 relief package by the end of the week, President Donald Trump and his top negotiators are talking about a narrow package focused on continuing expanded unemployment benefits and preventing... Read More

Feds Begin Prosecuting Fraudulent PPP Coronavirus Loans. Some Cases Will Be Hard to Win
Business
Feds Begin Prosecuting Fraudulent PPP Coronavirus Loans. Some Cases Will Be Hard to Win

WASHINGTON — One Los Angeles business owner allegedly went to Las Vegas and gambled away some of the $9 million he received in emergency government loans earmarked for his employees. A Texas man is accused of using his $1.5 million... Read More

Sherill, Gottheimer and King Move to Keep Treasury From Blocking Charitable Contributions
Congress
Sherill, Gottheimer and King Move to Keep Treasury From Blocking Charitable Contributions
2019-08-10 00:09:34
by Sean Trambley

Representatives Mikie Sherrill, D-N.J., Josh Gottheimer, D-N.J., and Peter King, R-N.Y., have introduced H.J. Res. 72 to overturn U.S. Treasury Department regulations that bar the deduction of charitable contributions from federal taxes.  The bipartisan action comes after the Treasury, in... 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

Mnuchin Rejects House Democrats’ Demand for Trump’s Tax Returns
Treasury
Mnuchin Rejects House Democrats’ Demand for Trump’s Tax Returns

WASHINGTON — Treasury Secretary Steven Mnuchin refused to release President Donald Trump’s personal and business tax returns, setting up what could become one of the biggest legal showdowns between the president and a Congress seeking to investigate him. The refusal... Read More

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