Treasury
Former Treasury Secretary Says Even $5 Gas 'Worth Paying' to Stop Putin
"If you think about the sacrifices being made by the people of Ukraine...that is a price that is very much worth paying," Lawrence Summers said.
Treasury Announces $8.7B for Lending to Minority-Owned Businesses
Vice President Kamala Harris and Treasury Secretary Janet Yellen announced the funds to be distributed to over 180 financial institutions across 36 states.
Treasury Wants to Regulate All-Cash Real Estate Deals to Reduce Corruption
Only 12 U.S. cities required title insurance companies to disclose peoples' identities making all-cash purchases of $300,000 homes through shell companies.
Thousands of Low-Income Families to Get $1,800 Child Tax Credits Next Month
Low-income families who signed up for the credits before the deadline will get six months of the payments on December 15, the Internal Revenue Service said.
Biden's Nominee for Bank Regulator Has Past Academic Writings Questioned
Saule Omarova wrote a paper on Karl Marx while studying at Moscow State University that some Republicans say should disqualify her from overseeing U.S. banks.
Treasury Plans to Borrow $1T, Only if Congress Deals With Debt Ceiling
Treasury Secretary Jenet Yellen warned a debt default would be catastrophic could push the country into a recession.
100+ Groups Urge Biden Admin to Drop Plans to Let IRS Monitor Bank Accounts
Credit Unions said the proposal, designed to help tackle tax fraud, "would impact almost every American and small business."
Janet Yellen Denies IRS Monitoring $600 Transactions Is Spying on Americans
The Treasury Secretary told CBS the proposal, aimed at billionaires, would increase tax revenues.
Trump Sees Debt Ceiling, Default Threat as Republican Leverage Over Biden
The former president said the GOP has a "very strong card to play" as the country faces an economic reckoning if debt issue is not resolved.
Shakira Wins Tax Dispute in Court Amid Pandora Papers Leak
The Spanish treasury has been ordered to reimburse Shakira for "a series of surcharges that the Tax Agency incorrectly collected."
Treasury Says Cities, States Can Return Money Meant for Rental Assistance
The Treasury Department is reallocating the funds in an effort to get more federal aid into the hands of tenants facing evictions amid the slow distribution.
Treasury Secretary Warns US Default on Debt Will Trigger Interest Rate Rise
Treasury Secretary Janet Yellen warned Congress that "our country would likely face a financial crisis and economic recession" if the debt ceiling isn't raised.
U.S. Treasury Warns Nation Will Hit Debt Limit in October
Treasury Secretary Janet Yellen said earlier this week that the U.S. defaulting on its debt would send shockwaves through the global financial system.
U.S. Treasury to Auction Off Notes, Bonds to Stay Under the Debt Ceiling
The Treasury Department said it must take "extraordinary measures" to keep below the newly imposed debt ceiling during the uncertainty of the pandemic.
Janet Yellen Receives Support From All Eight Living Ex-Treasury Secretaries
A letter they signed reflects bipartisan support as the Senate Finance Committee commences her confirmation hearing Tuesday.
Stimulus Cards Sent in Treasury Envelopes after Last Mistaken for Junk Mail
Payments of up to $600 per eligible individual are being sent out, with recipients getting them through direct deposit, checks or pre-paid debit cards.
$600 Second Stimulus Payments on the Way, With $2,000 Checks in Limbo
The Internal Revenue Service and Treasury Department have started to send the money approved by Congress and signed off by the president, as lawmakers continue to wrangle over whether payments should be boosted.
Trump Supports Granting More Small Business Loan Money Immediately: Mnuchin
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.
Mnuchin Blames Unemployment on Democratic States Not Reopening
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.
Mnuchin Says More Money Is Needed to Boost Economy During Reopening
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 Stimulus Check Would Likely Arrive Sooner Than the First
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.
While Some Await Stimulus Checks, Others Return Wrongly Made Payments
The Internal Revenue Service has outlined details on what to do if you receive a payment you may not be entitled to.
Amid Hopes for Second Stimulus Payments, Some Mistake First for Junk Mail
Around 4 million stimulus payments are being sent out in the form of prepaid debit cards in plain envelopes.
6 Things to Know About Prepaid Debit Card Stimulus Payments
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 Says 'Strong Likelihood' of Second Stimulus Bill
Mnuchin said he hoped the next stimulus bill has the "overwhelming bipartisan support" that the CARES Act had.
Colorado Man Receives Stimulus Check for Mother Who Died Two Years Ago
He notified the government of his mother's death before stimulus checks were being sent out to Americans, but she still got one.
Stimulus Check: Where and How Can I Use My EIP Debit Card?
Millions of people will receive a prepaid debit card loaded with their stimulus funds instead of a paper check in the mail.
Where Is My Stimulus Check? You May Get a Prepaid EIP Debit Card Instead
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.
Economists Back Record Borrowing in Coronavirus Crisis Despite GOP Concerns
The forecasted second quarter borrowing eclipses the $1.28 trillion total amount from 2019.
Thousands of IRS Employees Offer to Return to Office Work for Pay Raise
"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.