News and reports from the Department of the Treasury.

In 2023, 3.4 million American families saved $8.4 billion on clean energy and energy efficiency investments.

In 2023, more than 117,000 Michigan families saved over $134 million on clean energy and energy efficiency investments, according to new data released by the U.S. Department of the Treasury (Treasury). This announcement comes ahead of the two-year anniversary of the Inflation Reduction Act.

The U.S. Department of the Treasury, the Consumer Financial Protection Bureau (CFPB), and the Federal Trade Commission (FTC) announced measures today aimed at addressing unfair and deceptive consumer practices in the residential solar power sector. The agencies released Consumer Advisories to help the public identify potential unfair practices and encouraged consumers to report suspicious behavior to the FTC, CFPB, or state consumer protection offices.

On July 31, Deputy Secretary of the Treasury Wally Adeyemo met with the leadership of the 11 Federal Home Loan Banks (FHLBs) and Sandra Thompson, Director of the Federal Housing Finance Agency (FHFA), to discuss measures for enhancing affordable housing development.

On August 6, 2024, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Paraguayan tobacco company Tabacalera del Este S.A. (Tabesa) for providing financial support to Paraguay’s former president, Horacio Manuel Cartes Jara. Cartes was sanctioned by OFAC on January 26, 2023, for his involvement in corruption. The designation of Tabesa falls under Executive Order (E.O.) 13818, which implements the Global Magnitsky Human Rights Accountability Act and targets perpetrators of serious human rights abuse and corruption globally.

The U.S. Department of the Treasury has announced the approval of up to $83 million in State Small Business Credit Initiative (SSBCI) funds for a consortium of 125 Alaska Tribes. This investment, funded by the Biden-Harris Administration’s American Rescue Plan (ARP), supports the largest Tribal SSBCI consortium in history and aims to drive economic growth among Alaska's Tribal communities.

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) announced today that New Mexico will join IRS Direct File for Filing Season 2025. This initiative, made possible by President Biden’s Inflation Reduction Act, aims to enhance customer service and ensure taxpayers claim eligible benefits and deductions.

July 30, 2024

The U.S. Department of the Treasury released detailed results today from auctions held between June 3 and June 13, 2024, to sell its warrants for purchasing common stock in 11 publicly traded airlines. On June 21, 2024, Treasury announced it had received $556,685,001 in aggregate proceeds from these auctions.

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned two individuals and four companies involved in weapons procurement for Ansarallah, commonly known as the Houthis. Since November 2023, the Houthis have used unmanned aerial vehicles (UAVs), ballistic missiles, and cruise missiles to attack U.S. military forces, merchant vessels, their crews, and civilian populations in Israel. The group relies on a global network to procure and transport dual-use components needed for advanced weapons systems.

The Treasury Borrowing Advisory Committee convened in a closed session at the Department of the Treasury on July 30, 2024. All members were present, along with Veronica Clark from Citigroup to assist the Committee Chair. Under Secretary for Domestic Finance Nellie Liang, Fiscal Assistant Secretary David Lebryk, Assistant Secretary for Financial Markets Josh Frost, Deputy Assistant Secretary for Federal Finance Brian Smith, Director of the Office of Debt Management Fred Pietrangeli, and Deputy Director of the Office of Debt Management Tom Katzenbach welcomed the Committee....

The U.S. Department of the Treasury has announced the offering of $125 billion in Treasury securities to refund approximately $111 billion of privately-held Treasury notes maturing on August 15, 2024. This issuance will raise new cash from private investors amounting to roughly $14 billion.

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has designated five individuals and seven entities based in Iran, the People’s Republic of China (PRC), and Hong Kong for facilitating procurements on behalf of subordinates of Iran’s Ministry of Defense and Armed Forces Logistics (MODAFL). These designations involve components such as accelerometers and gyroscopes essential to Iran’s ballistic missile and unmanned aerial vehicle (UAV) programs.

As Prepared for Delivery

The U.S. Department of the Treasury and Internal Revenue Service (IRS) announced today that Pennsylvania will join IRS Direct File for Filing Season 2025. This initiative, enabled by President Biden’s Inflation Reduction Act, aims to improve customer service across various platforms to ensure taxpayers claim all eligible benefits and deductions.