Treasury

Treasury Secretary Steven Mnuchin said he was ready to resume stimulus negotiations and that the president is willing to support stand-alone legislation for small businesses.

The Treasury secretary said he believes "there is no question" ongoing COVID-19 restrictions are "the reason we have unemployment" during a Tuesday congressional hearing.

Appearing before the U.S. Senate Small Business Committee, Mnuchin said the economy has already begun rebounding from the coronavirus pandemic and that data shows the U.S. is "well-positioned for a strong, phased reopening of our country."

A second round of economic impact payments has not been approved. But if it is the Internal Revenue Service would appear to be in a better position to distribute them following the first batch.

The Internal Revenue Service has outlined details on what to do if you receive a payment you may not be entitled to.

Around 4 million stimulus payments are being sent out in the form of prepaid debit cards in plain envelopes.

Four million U.S. residents who are eligible for economic impact payments under the CARES Act will receive them through prepaid debit cards, which the Treasury's financial agent began distributing via mail last week.

Mnuchin said he hoped the next stimulus bill has the "overwhelming bipartisan support" that the CARES Act had.

He notified the government of his mother's death before stimulus checks were being sent out to Americans, but she still got one.

Millions of people will receive a prepaid debit card loaded with their stimulus funds instead of a paper check in the mail.

The Treasury Department said it is sending out prepaid Economic Independence Payment debit cards to almost four million Americans still waiting for their stimulus checks.

The forecasted second quarter borrowing eclipses the $1.28 trillion total amount from 2019.

"To provide American taxpayers, including the most vulnerable, with the services they expect, it is essential that the IRS resumes a number of key responsibilities," the agency said in a statement.

One paper found tariffs are costing U.S. consumers and businesses $3 billion per month in added tax costs.

The redesigned bill was supposed to be unveiled next year but has been delayed until 2028.

Mnuchin refused to hand over the financial documents for a third time earlier this week to Ways and Means Chairman Richard Neal.

A Ways and Means Committee member told Newsweek that no matter what action the House panel takes next, the Treasury Department's refusal will eventually "end up before a judge."

House Democrats told Newsweek they plan to "use every legal recourse available" if Treasury continues to refuse to provide the president's tax returns.

"If we have to bomb Al Jazeera TV antenna arrays, do it. If we have to humiliate prisoners, do it."

The technology industry alone has been estimated to have lost about $1 billion per month as a result of the tariffs on Chinese products.

Interest on debt is rapidly becoming a larger share of the U.S. GDP, setting up a bipartisan battle over competing spending on health care, education and defense.

Strongman Nicolás Maduro's wife was recently added to the Treasury's specially designated nationals list.

"We didn't like the vase too much, and my grandparents didn't like it either," the owner said.

The U.S. government added three Russians and five companies said to be linked to Moscow's security forces.

The company denies wrongdoing.

The order applies to any American citizen or individuals living in the U.S.

The Office of Inspector General said travel-cost justifications from the Treasury and White House needed "more detail and rigor."

Trump said in an interview that he wants a strong U.S. currency and that earlier comments by Mnuchin were misinterpreted.

President Donald Trump will take an overnight flight Wednesday to attend the World Economic Forum, but members of his Cabinet are already at the conference and promoting the president's America First policy.

The pair join a long list of North Korean officials on the Treasury's sanctions list, which includes Supreme Leader Kim Jong Un.