U.S. Department Of Treasury
Recent News About U.S. Department Of Treasury
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Remarks by Secretary of the Treasury Janet L. Yellen at East Valley American Job Center in Mesa, Arizona
Secretary of the Treasury Janet L. Yellen delivered a speech at the East Valley American Job Center in Mesa, Arizona, highlighting the economic progress made under the Biden Administration. Yellen emphasized the importance of equipping Americans with the necessary skills to secure good jobs and support growth in key industries.Yellen acknowledged the impact of the American Rescue Plan in aiding the economic recovery from the pandemic and emphasized the administration's commitment to supporting workers in the long term. She mentioned the importance of investing in new...
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Treasury's Initiatives to Enhance Treasury Market Transparency and Resilience
Remarks by Assistant Secretary for Financial Markets Joshua Frost on Recent Progress by the Inter-Agency Working Group on Treasury Market Surveillance at the Federal Reserve Bank of New York’s Annual Primary Dealer Meeting, May 3, 2024.
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Treasury Releases Social Security and Medicare Trustees Reports
The U.S. Department of the Treasury, in collaboration with various government agencies, has recently unveiled the annual Social Security and Medicare Trustees Reports. These reports shed light on the current state and future outlook of the crucial social welfare programs.Treasury Secretary Janet L. Yellen emphasized the importance of Social Security and Medicare, stating, “Seniors spent a lifetime working to earn the benefits they receive, and the Biden-Harris Administration will continue to oppose cuts to either program.”Acting Secretary of Labor Julie Su highlighted...
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A Focus on Economic Strength and Challenges for Asian American, Native Hawaiian, and Pacific Islander Communities
Remarks by Secretary of the Treasury Janet L. Yellen at Asian American, Native Hawaiian, and Pacific Islander Economic Summit
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Under Secretary for Terrorism and Financial Intelligence Brian Nelson to Travel to Singapore and Malaysia
Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian Nelson is set to embark on a trip to Singapore and Malaysia from May 6th to May 9th. The visit aims to further Treasury's efforts in countering terrorist financing and revenue generation by Iran and its proxies, as well as to discuss the implementation of sanctions and export controls against Russia.During the trip, Nelson, along with Treasury General Counsel Neil MacBride, will engage in discussions with officials in both countries. In Malaysia, they will address disrupting terrorist...
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U.S. Department of the Treasury Releases Final Rules to Lower Consumer Costs, Continue U.S. Manufacturing Boom in Batteries and Clean Vehicles, Strengthen Energy Security
Today, the U.S. Department of the Treasury and Internal Revenue Service (IRS) announced final rules on clean vehicle provisions, as part of the Inflation Reduction Act (IRA), aimed at reducing consumer costs, boosting U.S. manufacturing, and enhancing energy security. Janet L. Yellen, Secretary of the Treasury, highlighted the impact of the Inflation Reduction Act, stating, “President Biden’s Inflation Reduction Act has unleashed an investment and manufacturing boom in the United States." She emphasized the benefits of clean vehicle credits, saving consumers money and...
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United States Sanctions Senior Leader of the
The United States reveals the identity of and imposes sanctions on Dmitry Khoroshev, a senior leader of the LockBit ransomware group
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U.S. Department of the Treasury, IRS Highlight Achievements in First Year of Taxpayer Service Improvement Plan
WASHINGTON – The U.S. Department of the Treasury and Internal Revenue Service (IRS) have detailed the accomplishments made in the initial year of implementing the Strategic Operating Plan aimed at transforming the IRS with resources from the Inflation Reduction Act.Secretary of the Treasury Janet L. Yellen commended the progress made, stating, “Thanks to resources from President Biden’s Inflation Reduction Act, the IRS has made major progress in the first year of implementation of its plan to ensure the agency is delivering for American taxpayers.”The IRS significantly...
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Treasury Targets Sanctions Evaders Supporting Key Hizballah Financial Advisor
Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced the designation of five individuals for their involvement in aiding U.S.-designated Hizballah money exchanger Hassan Moukalled and his company, CTEX Exchange, in evading sanctions and facilitating illicit activities in support of Hizballah.Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson emphasized the significance of the actions taken, stating, "Hizballah continues to rely on seemingly legitimate business investments and key facilitators...
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Quarterly Refunding Statement of Assistant Secretary for Financial Markets Josh Frost
Assistant Secretary for Financial Markets Josh Frost presented the Quarterly Refunding Statement on April 29, 2024, outlining the U.S. Department of the Treasury's plans for upcoming Treasury securities offerings. Frost announced, "The U.S. Department of the Treasury is offering $125 billion of Treasury securities to refund approximately $107.8 billion of privately-held Treasury notes maturing on May 15, 2024." The issuance aims to raise new cash from private investors amounting to approximately $17.2 billion.The upcoming securities offerings include a 3-year note of $58...
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Report to the Secretary of the Treasury from the Treasury Borrowing Advisory Committee
The Treasury Borrowing Advisory Committee recently submitted a detailed report to the Secretary of the Treasury, outlining various economic factors and developments that have influenced Treasury yields and market dynamics. In the letter addressed to the Secretary, the Committee highlighted key points regarding inflation, economic growth, job growth, and geopolitical tensions that have impacted the financial landscape.Regarding inflation, the Committee noted that core PCE inflation in Q1 was stronger than expected at 3.7% annualized, with slower goods price inflation...
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Key Discussions and Recommendations from the Treasury Borrowing Advisory Committee Meeting
The recent meeting of the Treasury Borrowing Advisory Committee held on April 30, 2024, saw various discussions and recommendations put forth by key stakeholders in the financial sector.Under Secretary Liang expressed gratitude to outgoing Vice Chair Colin Teichholtz for his service to the committee at the beginning of the meeting. This set the tone for a series of discussions on debt management and Treasury priorities.During the meeting, it was noted that primary dealer estimates for the next three fiscal years were slightly lower than previous estimates, with a...
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Department of the Treasury announces new milestone in expanding the reach of Clean Energy Tax Credits
The Department of the Treasury, in conjunction with the Internal Revenue Service (IRS), has achieved a significant milestone in its efforts to expand the reach of Clean Energy Taxes and expedite project development. More than 45,500 projects have been registered for the New Elective Pay and Transferability Credit Monetization Provisions under the Inflation Reduction Act.
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Nicaragua's Attorney General sanctioned by the Department of the Treasury
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has imposed sanctions on Nicaragua's Attorney General, Wendy Carolina Morales Urbina, for her role in supporting oppression. Urbina is alleged to have played a part in the Ortega-Murillo regime's repression against civilians.
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CRFB analysis finds CBO’s Long-Term Budget Outlook troubling
The Committee for a Responsible Federal Budget (CRFB) has released an analysis of the Congressional Budget Office’s (CBO) recently published Long-Term Budget Outlook. The analysis underscores several alarming economic trends predicted for the United States over the forthcoming 30 years.
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Data shows that Homeowner Assistance Fund has helped over 500,000 families remain in their homes
The U.S. Department of the Treasury has published data on the Homeowner Assistance Fund (HAF), indicating that the fund has supported over 500,000 families in retaining their homes by offering financial relief. More than $6.6 billion has been disbursed through the American Rescue Plan (ARP) to aid homeowners at risk of foreclosure.
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Zimbabwe's president sanctioned by the United States Department of the Treasury
The United States Department of the Treasury has imposed sanctions on Zimbabwe's President Emmerson Mnangagwa and several other key figures for their involvement in corruption and serious human rights abuses. The president was among 11 individuals who were sanctioned under Executive Order (E.O.) 13818, which implements the Global Magnitsky Human Rights Accountability Act.
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US Department of the Treasury releases analysis on Inflation Reduction Act
The United States Department of the Treasury has recently published an analysis on the benefits derived from the Inflation Reduction Act (IRA). The study suggests that previous projections understate the impact of the IRA on reducing greenhouse gas pollution and overlooks its broader benefits.
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$20 million for digital connectivity projects for Pennsylvania has been approved
Pennsylvania has received approval for $20 million in funding for digital connectivity projects, a significant step towards bridging the nation's digital divide. This investment forms part of the Investing in America Agenda.
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The United States Department of the Treasury used AI fraud detection processes to recover $375 million in 2023
The United States Department of the Treasury has leveraged artificial intelligence (AI) in fraud detection processes, resulting in the recovery of nearly $375 million during 2023. The Office of Payment Integrity within the Treasury initiated the use of AI to combat escalating levels of fraud, which began to rise with the onset of the COVID-19 pandemic in 2020.