INSIDER
Treasury official says withdrawing the US from the IMF and World Bank would be a 'step backward'
Read full article: Treasury official says withdrawing the US from the IMF and World Bank would be a 'step backward'U_S_ Treasury official Jay Shambaugh says withdrawing the U_S_ from the IMF and World Bank would be โa step backward."
Treasury rule would expand tax credits for installing electric vehicle chargers
Read full article: Treasury rule would expand tax credits for installing electric vehicle chargersThe Biden administration is moving to clarify how homeowners and businesses can receive lucrative tax credits for installing electric vehicle chargers.
140,000 people did their taxes with the free IRS direct file pilot. But program's future is unclear
Read full article: 140,000 people did their taxes with the free IRS direct file pilot. But program's future is unclearThe IRS says more than 140,000 taxpayers filed their taxes through its new direct file pilot program.
White House promises 'major sanctions' on Russia in response to Alexei Navalny's death
Read full article: White House promises 'major sanctions' on Russia in response to Alexei Navalny's deathThe White House says it is preparing additional โmajor sanctionsโ on Russia in response to opposition leader Alexei Navalnyโs death last week in an Arctic penal colony.
Pennsylvania Capitol protest against state investing in Israel bonds ends with arrests
Read full article: Pennsylvania Capitol protest against state investing in Israel bonds ends with arrestsMore than 100 people protesting the Pennsylvania state governmentโs investments in Israel were taken into custody in the Capitol Rotunda in Harrisburg.
US Treasury Department issues guidelines around a new tax credit for sustainable aviation fuel
Read full article: US Treasury Department issues guidelines around a new tax credit for sustainable aviation fuelThe Treasury Department is spelling out the rules for tax credits designed to stimulate production of sustainable aviation fuel.
New sanctions from the US and Britain target Hamas officials who help manage its financial network
Read full article: New sanctions from the US and Britain target Hamas officials who help manage its financial networkThe United States has announced new war-related of sanctions against Hamas, targeting eight officials and representatives who help manage the militant groupโs financial network.
In Mexico, Yellen announces economics sanctions as the US aims to crack down on fentanyl trafficking
Read full article: In Mexico, Yellen announces economics sanctions as the US aims to crack down on fentanyl traffickingTreasury Secretary Janet Yellen has announced economic sanctions against 15 people and two companies that the United States says are linked to a Mexican drug cartel.
Janet Yellen is heading to Mexico after Treasury launches a new fentanyl trafficking strike force
Read full article: Janet Yellen is heading to Mexico after Treasury launches a new fentanyl trafficking strike forceTreasury Secretary Janet Yellen is heading to Mexico this week, a trip announced shortly after her agency created a new strike force to help combat illicit fentanyl trafficking.
US sanctions financial network tied to Iranian oil sales
Read full article: US sanctions financial network tied to Iranian oil salesOn Wednesday the U.S. Treasure Department imposed a new round of sanctions against a group of 20 people and firms who are allegedly involved in a financial facilitation network for the benefit of the Iranian military.
Yellen says ransomware attack on China's biggest bank minimally disrupted Treasury market trades
Read full article: Yellen says ransomware attack on China's biggest bank minimally disrupted Treasury market tradesU.S. Treasury Secretary Janet Yellen is suggesting that a ransomware attack that forced Chinaโs biggest bank to take some systems offline only minimally disrupted the U.S. Treasury market.
US announces sweeping action against Chinese fentanyl supply chain producers
Read full article: US announces sweeping action against Chinese fentanyl supply chain producersThe Biden administration is taking aim at the fentanyl trafficking threat, announcing a series of indictments and sanctions against Chinese companies and executives blamed for importing the chemicals used to make the deadly drug.
IRS is ending unannounced visits to taxpayers to protect worker safety and combat scammers
Read full article: IRS is ending unannounced visits to taxpayers to protect worker safety and combat scammersThe IRS says it is ending its decades-old policy of making unannounced home and business visits โ in a an effort to keep its workers safe and combat scammers who pose as IRS agents.
US sanctions group of people and firms from Iran, China and Hong Kong tied to Iran ballistic program
Read full article: US sanctions group of people and firms from Iran, China and Hong Kong tied to Iran ballistic programThe U.S. is sanctioning a network of people and firms from Iran, China and Hong Kong associated with the alleged development of Iranโs ballistic missile program.
The easiest way to get a $7,500 tax credit for an electric vehicle? Consider leasing.
Read full article: The easiest way to get a $7,500 tax credit for an electric vehicle? Consider leasing.Thanks to a boost from the government, leasing โ not buying โ is becoming the most affordable way to get your hands on an electric vehicle.
McCarthy says debt ceiling standoff 'not my fault,' as White House warns of economic risks
Read full article: McCarthy says debt ceiling standoff 'not my fault,' as White House warns of economic risksA defiant House Speaker Kevin McCarthy says the debt ceiling standoff is โnot my faultโ after he sent Republican negotiators to the White House to finish out debt limit talks.
How raising the nation's debt limit could reduce spending of some coronavirus relief funds
Read full article: How raising the nation's debt limit could reduce spending of some coronavirus relief fundsProposals to raise the nation's debt limit include spending cuts to coronavirus relief funds that haven't been used.
Debt ceiling explained: What to know about the showdown in Washington as default looms
Read full article: Debt ceiling explained: What to know about the showdown in Washington as default loomsHouse Republicans still donโt have a deal with President Joe Biden to raise the nationโs debt ceiling a little more than a week away from a potentially catastrophic default.
IRS takes steps to protect identity of workers in effort to deter personal threats
Read full article: IRS takes steps to protect identity of workers in effort to deter personal threatsThe IRS is taking steps to protect the identity of its workers in an effort to deter personal threats aimed at the tax agency's employees.
Why Biden is wary of using the 14th Amendment to address the debt limit crisis
Read full article: Why Biden is wary of using the 14th Amendment to address the debt limit crisisPresident Joe Biden and his administration have been searching for ways he might act unilaterally to avoid an economic โcalamityโ if Congress canโt reach agreement to allow more federal borrowing.
Yellen: Different system needed to end repeated standoffs over US debt ceiling
Read full article: Yellen: Different system needed to end repeated standoffs over US debt ceilingTreasury Secretary Janet Yellen says that in her opinion, the United States should adopt a different system for national finances that might forestall repeated standoffs with Congress over spending.
El Chapo's son, Sinaloa members face sanctions over fentanyl
Read full article: El Chapo's son, Sinaloa members face sanctions over fentanylThe United States has sanctioned a son of Mexican drug lord Joaquin โEl Chapoโ Guzman, three members of the Sinaloa cartel and two Mexican-based firms, alleging they trafficked fentanyl and other drugs into the U.S. Tuesday's sanctions came the day Mexican President Andrรฉs Manuel Lรณpez Obrador talked with President Joe Biden about immigration and the fentanyl crisis.
What's behind the looming 'x-date' on the US debt limit?
Read full article: What's behind the looming 'x-date' on the US debt limit?In January, the U.S. government ran up against its legal borrowing capacity of $31.381 trillion, and the Treasury Department began implementing โextraordinary measuresโ to avoid a default.
Russian arms dealer, son and front firms hit with sanctions
Read full article: Russian arms dealer, son and front firms hit with sanctionsA Russian arms dealer, his son and a group of front companies across Asia, Europe and the Middle East and their leadership have been targeted for U.S. sanctions in an effort to quell Russiaโs access to weapons to continue its invasion of Ukraine.
US Treasury buys time for Biden and GOP on debt limit deal
Read full article: US Treasury buys time for Biden and GOP on debt limit dealThe Treasury Department says it has started taking โextraordinary measuresโ as the government has run up against its legal borrowing capacity of $31.381 trillion.
US hits more Iranian officials with human rights sanctions
Read full article: US hits more Iranian officials with human rights sanctionsThe Biden administration is slapping sanctions on Iran's chief prosecutor, four other Iranian officials and a company that supports the country's security forces for their roles in an ongoing violent crackdown on antigovernment protests.
Rule delay makes big EV tax credit possible early next year
Read full article: Rule delay makes big EV tax credit possible early next yearPeople who want to buy an electric vehicle could get a bigger-than-expected tax credit come Jan. 1 because of a delay by the Treasury Department in drawing up rules for the tax breaks.
Biden eases Venezuela sanctions as opposition talks resume
Read full article: Biden eases Venezuela sanctions as opposition talks resumeThe Biden administration is easing some oil sanctions on Venezuela in an effort to support newly restarted negotiations between the Venezuelan government and its opposition.
U.S. sanctions South African Islamic State-affiliated firms
Read full article: U.S. sanctions South African Islamic State-affiliated firmsThe U.S. has imposed its second round of sanctions in less than a week on people and firms in Africa who it says have provided financial or material support to the Islamic State group.
US sanctions Haitian politicians on drug trafficking claims
Read full article: US sanctions Haitian politicians on drug trafficking claimsTwo Haitian politicians are facing U.S. sanctions over allegations they abused their positions to traffic drugs in collaboration with gang networks and directed others to engage in violence.
US sanctions Mexicans linked to powerful Sinaloa drug cartel
Read full article: US sanctions Mexicans linked to powerful Sinaloa drug cartelThe Treasury Department has sanctioned a group of people and firms connected to Mexicoโs Sinaloa drug cartel, including a sibling involved in the family-run Valenzuela drug trafficking organization.
New rules fix 'flaw' for families seeking Obamacare coverage
Read full article: New rules fix 'flaw' for families seeking Obamacare coverageMore families who are offered expensive health insurance premiums from their employers will get a discount if they sign up instead for coverage through the Affordable Care Act marketplace this fall.
US sanctions 'brazenly corrupt' Bosnian state prosecutor
Read full article: US sanctions 'brazenly corrupt' Bosnian state prosecutorThe U.S. government has imposed sanctions on a Bosnian state prosecutor who is accused of being complicit in corruption and undermining democratic processes or institutions in the Western Balkans.
Yellen to visit North Carolina ahead of tight midterm races
Read full article: Yellen to visit North Carolina ahead of tight midterm racesTreasury Secretary Janet Yellen heads to the Durham, North Carolina, area next Tuesday as part of her ongoing national tour to promote the Biden administrationโs legislative agenda ahead of midterm elections.
Musk to seek exemption from Iran sanctions for Web access
Read full article: Musk to seek exemption from Iran sanctions for Web accessElon Muskโs hopes to operate his satellite internet firm in Iran require permission from the Treasury Department, which said Tuesday it welcomes applications to support internet freedom in the country, which is largely isolated from western economies.
3 Iranian citizens charged in broad hacking campaign in US
Read full article: 3 Iranian citizens charged in broad hacking campaign in USThe Justice Department says three Iranian citizens have been charged in the United States with ransomware attacks that targeted power companies, local governments and small businesses and nonprofits, including a Pennsylvania domestic violence shelter.
Yellen tells IRS to develop modernization plan in 6 months
Read full article: Yellen tells IRS to develop modernization plan in 6 monthsTreasury Secretary Janet Yellen has directed the IRS to develop a plan within six months outlining how the tax agency will modernize its technology, customer service and hiring.
US sanctions UAE, Hong Kong firms that ship Iranian oil
Read full article: US sanctions UAE, Hong Kong firms that ship Iranian oilThe U.S. has sanctioned a United Arab Emirates-based firm and several Asian companies for facilitating the illicit sale of millions of dollarsโ worth of Iranian oil for shipment to East Asia.
Federal monitor accuses UAW of concealing misconduct probe
Read full article: Federal monitor accuses UAW of concealing misconduct probeA monitor appointed by a federal judge in the wake of a United Auto Workers bribery and embezzlement scandal says the union has been uncooperative, withholding information on additional misconduct allegations.
$30B from Russian oligarchs frozen under REPO seizure effort
Read full article: $30B from Russian oligarchs frozen under REPO seizure effortA multinational task force designed to seize Russian oligarchs' wealth has blocked and frozen $30 billion in sanctioned individualsโ property and funds in its first 100 days.
US sanctions Nicaraguan gold mining firm over ties to Russia
Read full article: US sanctions Nicaraguan gold mining firm over ties to RussiaThe U.S. has imposed sanctions on Nicaraguaโs state-owned gold mining company and the president of its board of directors partly over the Central American nationโs ties to Russia.
US to end Russia's ability to pay international investors
Read full article: US to end Russia's ability to pay international investorsThe U.S. will close the last avenue for Russia to pay back its billions in debt to international investors on Wednesday, making a Russian default on its debts for the first time since the Bolshevik Revolution all but inevitable.
US sanctions alleged IS child trafficking financiers
Read full article: US sanctions alleged IS child trafficking financiersThe U.S. announced Monday it is imposing financial penalties on five people accused of fundraising for the Islamic State group and using the funds to help traffic children to serve as fighters for the organization.
US, allies aim to force Russia to shift money away from war
Read full article: US, allies aim to force Russia to shift money away from warA Treasury Department official says the United States and its allies are pushing ahead with sanctions aimed at forcing Vladimir Putin to spend Russiaโs money propping up its economy rather than sustaining its โwar machineโ for the fight in Ukraine.
White House: US, allies to ban new investments in Russia
Read full article: White House: US, allies to ban new investments in RussiaThe U.S. and its European allies will impose stiff new sanctions Wednesday, including a ban on new investments in Russia, in retaliation for Russiaโs โwar crimesโ in Ukraine, according to the White House.
US sanctions Uganda gold dealer, citing illicit Congo origin
Read full article: US sanctions Uganda gold dealer, citing illicit Congo originA Belgian businessman sanctioned by the U.S. over allegations of illicit gold trade in Congo said Friday the action undermines efforts to improve transparency in a region seeing rising official exports of the mineral.
Biden signs order on cryptocurrency as its use explodes
Read full article: Biden signs order on cryptocurrency as its use explodesPresident Joe Biden has signed an executive order on government oversight of cryptocurrency that urges the Federal Reserve to explore whether the central bank should create its own digital currency.
US eases trade with Afghanistan despite Taliban sanctions
Read full article: US eases trade with Afghanistan despite Taliban sanctionsThe Biden administration is seeking to assure financial institutions and other businesses that U.S. sanctions on the Taliban arenโt intended to interfere with trade that could help Afghanistan emerge from an economic and humanitarian crisis.
Yellen: Biden pandemic relief 'like a vaccine' for economy
Read full article: Yellen: Biden pandemic relief 'like a vaccine' for economyTreasury Secretary Janet Yellen has told a gathering of Americaโs mayors the Biden administrationโs coronavirus relief bill is โlike a vaccineโ preventing catastrophic economic damage.
Treasury: Arizona risks relief funds over anti-mandate rules
Read full article: Treasury: Arizona risks relief funds over anti-mandate rulesThe Biden administration is threatening to recoup COVID-19 relief funds sent to Arizona over state provisions it says discourage families and school districts from following federal guidance recommending face coverings in schools.
US issues sanctions, visa bans to mark Human Rights Day
Read full article: US issues sanctions, visa bans to mark Human Rights DayThe U.S. issued financial sanctions and visa bans on former and current government officials and entities in nine countries Friday โ including China, Myanmar and Russia โ as part of coordinated actions with Canada and the U.K. to coincide with International Human Rights Day.
No currency manipulator labels from US, China on watch
Read full article: No currency manipulator labels from US, China on watchThe Biden administration will not designate any country as a currency manipulator, but it did name China, Vietnam and Taiwan among the nations that have failed to live up to global agreements not to use their currencies to gain unfair trade advantages.
States, cities running out of rental assistance monies
Read full article: States, cities running out of rental assistance moniesThe Treasury Department says several states and cities have exhausted their federal rental assistance in a sign that spending on a program aimed at averting evictions has picked up speed.
Judge blocks tax cut rule in American Rescue Plan
Read full article: Judge blocks tax cut rule in American Rescue PlanA federal judge has blocked the U.S. Treasury from enforcing a provision of the American Rescue Plan that prohibited states from using the pandemic relief funds to offset new tax cuts.
US budget deficit eases to $165B in October, down 42%
Read full article: US budget deficit eases to $165B in October, down 42%The U.S. monthly budget deficit fell in October as the government collected more taxes from individuals and corporations thanks to a much improved economy emerging from the coronavirus pandemic.
Treasury report calls for stricter oversight of stablecoins
Read full article: Treasury report calls for stricter oversight of stablecoinsThe Biden administration is calling on Congress to pass legislation that would strengthen government regulation of stablecoins, a form of cryptocurrency that has soared in popularity in the past year.
US hits Iran with sanctions ahead of key nuke talks meeting
Read full article: US hits Iran with sanctions ahead of key nuke talks meetingThe United States has hit Iran with a fresh set of sanctions as President Joe Biden prepares for a key weekend meeting with European leaders to discuss the possible resumption of nuclear talks with the Islamic Republic.
Treasury claims rental assistance helped stop eviction wave
Read full article: Treasury claims rental assistance helped stop eviction waveThe number of households receiving emergency rental assistance has increased steadily in recent months, with no major increase in people being turned out of their homes despite the expiration of the federal eviction moratorium.
Treasury Department names first counselor for racial equity
Read full article: Treasury Department names first counselor for racial equityThe Treasury Department has hired a former JPMorgan Chase executive to head a new government program aimed at combatting racial inequality issues in banking and other financial-services industries.
AP: States and cities slow to spend federal pandemic money
Read full article: AP: States and cities slow to spend federal pandemic moneyMany states and cities across the U.S. are getting off to a slow start in spending money from this year's coronavirus relief package championed by President Joe Biden and Democrats.
White House blacklists Russian ransomware payment 'enabler'
Read full article: White House blacklists Russian ransomware payment 'enabler'The Biden administration is trying to choke the finances of criminal ransomware gangs by sanctioning a Russia-based virtual currency brokerage it says has been used by at least eight ransomware gangs to launder criminal proceeds.
Policy center says debt limit could be hit in mid-October
Read full article: Policy center says debt limit could be hit in mid-OctoberA think tanks says the government will likely face an unprecedented default on its debt obligations between mid-October and mid-November, seconding a warning earlier this week from the Treasury.
US imposes new Cuba sanctions over human rights abuses
Read full article: US imposes new Cuba sanctions over human rights abusesThe Biden administration has unveiled new sanctions against a Cuban official and government entity it says was involved in human rights abuses during a government crackdown on protests on the island earlier this month.
Yellen: Failure to raise debt limit would be 'catastrophic'
Read full article: Yellen: Failure to raise debt limit would be 'catastrophic'Treasury Secretary Janet Yellen has told a congressional panel that failing to raise the federal debt ceiling would have โabsolutely catastrophic consequencesโ that could bring on a financial crisis.
Yellen: administration is watching inflation closely
Read full article: Yellen: administration is watching inflation closelyTreasury Secretary Janet Yellen is providing assurances to Congress the recent jump in inflation is being watched very closely by the Biden administration, but said again that such increases appear temporary.