U.S. Department of the Treasury
U.S. Government: Agencies/Departments/Divisions | Cabinet-Level Federal Department
Recent News About U.S. Department of the Treasury
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The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has sanctioned the Korea Sobaeksu Trading Company and three individuals, Kim Se Un, Jo Kyong Hun, and Myong Chol Min.
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Today, U.S. Secretary of the Treasury Scott Bessent held a meeting with Singapore's Deputy Prime Minister and Minister for Trade and Industry, Gan Kim Yong.
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Today, the United States Senate confirmed John Hurley as the new Under Secretary for Terrorism and Financial Intelligence at the U.S. Department of the Treasury. “It is a great honor and privilege to serve as Under Secretary for Terrorism and...
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The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has announced sanctions against seven senior officials and one entity linked to the Hizballah-controlled financial institution Al-Qard Al-Hassan (AQAH).
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U.S. Secretary of the Treasury Scott Bessent issued a statement following the passage of the One, Big, Beautiful Bill Act.
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The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has imposed sanctions on networks involved in transporting and purchasing Iranian oil, which has reportedly benefited Iran’s Islamic Revolutionary Guard Corps-Qods Force...
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The U.S. Department of the Treasury has issued a request for information (RFI) concerning Executive Order 14247, titled "Modernizing Payments To and From America’s Bank Account."
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Today, Secretary of the Treasury Scott Bessent and Secretary of Commerce Howard Lutnick held a meeting with Japan's Economic Revitalization Minister Ryosei Akazawa.
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Secretary of the Treasury Scott K.H. Bessent and U.S. Trade Representative Jamieson Greer held a meeting with President Karin Keller-Sutter and Vice President Guy Parmelin of Switzerland in Geneva on May 10, 2025.
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Under Secretary Brian Nelson addressed attendees at ACI’s Annual Flagship Conference on Economic Sanctions Enforcement and Compliance, expressing gratitude for the invitation and highlighting the importance of the practitioners' work in advising on sensitive sanctions matters. Nelson acknowledged the Treasury's efforts to enhance the rigor and effectiveness of sanctions enforcement and compliance. He emphasized the need for a modernized approach to sanctions in response to evolving global challenges.Nelson praised the successful multilateral partnerships in response to...
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WASHINGTON – In a recent development, the U.S. Department of the Treasury and the White House came together to facilitate a discussion aimed at enhancing access to affordable, high-quality child care. The focus of the convening was on fostering collaboration between small childcare businesses, Community Development Financial Institutions (CDFIs), and key stakeholders.The event witnessed the participation of various notable figures, including Director of the Gender Policy Council Jennifer Klein and Domestic Policy Advisor Neera Tanden. Deputy Assistant Secretary for...
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The latest economic statement by Eric Van Nostrand, performing duties of Assistant Secretary for Economic Policy for the Treasury Borrowing Advisory Committee, highlights the current state of the U.S. economy as of April 29, 2024.Van Nostrand noted that despite a slowdown in real GDP growth to 1.6 percent in the first quarter of 2024, the underlying demand from households and businesses remained strong. He emphasized that personal consumption and business fixed investment played crucial roles in supporting GDP growth, with residential investment showing significant...
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The U.S. Department of the Treasury and the Department of Energy have announced new guidance on the Inflation Reduction Act programs aimed at boosting manufacturing and clean energy investments in coal communities. The Biden-Harris Administration revealed plans for a $6 billion tax credit allocation round to support clean energy supply chains and advanced energy projects, with a significant portion earmarked for historic energy communities impacted by coal-related closures.Deputy Secretary of the Treasury Wally Adeyemo emphasized the importance of driving investments in...
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The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have issued guidance on the Sustainable Aviation Fuel (SAF) Credit established by the Inflation Reduction Act (IRA) to promote innovation in the aviation industry and reduce emissions. This initiative is part of President Biden's agenda to create jobs and combat climate change.U.S. Treasury Secretary Janet L. Yellen emphasized the importance of the Inflation Reduction Act in driving American innovation and job creation, stating, "Incentives in the law are helping to scale production of low-carbon...
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Secretary of the Treasury Janet L. Yellen addressed the Committee on Ways & Means of the U.S. House of Representatives, highlighting the significant strides made in the economic landscape under the Biden Administration. Yellen expressed gratitude for the opportunity to testify and stated, "The Biden Administration has driven a historic economic recovery over the past three years."Yellen emphasized the administration's focus on reducing household expenses and enhancing economic opportunities, stating, "President Biden and I are taking additional actions to bring down the...
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The final results from the annual survey of foreign portfolio holdings of U.S. securities at the end of June 2023 were released today, as reported by the Treasury website. The survey, conducted jointly by Treasury, the Federal Reserve Bank of New York, and the Board of Governors of the Federal Reserve System, revealed some insightful data.According to the survey, the value of foreign portfolio holdings of U.S. securities as of June 30, 2023, was $26,872 billion. This amount was broken down into $13,719 billion held in U.S. equities, $11,967 billion in U.S. long-term debt...
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WASHINGTON – The U.S. Department of the Treasury has disclosed its borrowing estimates for the upcoming quarters of 2024. According to the announcement, for the April – June 2024 quarter, the Treasury plans to borrow $243 billion in privately-held net marketable debt, with an end-of-June cash balance of $750 billion. The borrowing estimate is $41 billion higher than previously anticipated, primarily due to decreased cash receipts, partially offset by a higher beginning of the quarter cash balance.Looking ahead to the July – September 2024 quarter, the Treasury projects a...
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IRS Direct File Pilot Exceeds Usage Goal, Receiving Positive User Ratings and Saving Taxpayers MoneyThe U.S. Department of the Treasury and Internal Revenue Service (IRS) have reported that the Direct File pilot program surpassed expectations, with 140,803 taxpayers filing their taxes directly with the IRS for free, resulting in substantial savings for taxpayers. Users of the program claimed over $90 million in refunds and saved an estimated $5.6 million in tax preparation fees on federal returns alone.Deputy Secretary of the Treasury Wally Adeyemo praised the success of the program, stating, “The IRS’s Direct File pilot enabled more than 140,000 taxpayers to file their...
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WASHINGTON – The U.S. Department of the Treasury’s Federal Insurance Office (FIO) has announced a new partnership with the National Science Foundation (NSF) aimed at enhancing the insurance sector's capabilities in handling terrorism and catastrophic cyber risks. This collaboration was unveiled during the 2024 International Forum of Terrorism Risk (Re)Insurance Pools Annual Conference, where FIO also assumed the role of the chair of IFTRIP.The establishment of a new Industry-University Cooperative Research Center (IUCRC) is at the core of this partnership. Through the...
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Yesterday, U.S. Deputy Secretary of the Treasury Wally Adeyemo participated in a roundtable discussion hosted by the Corporate Council on Africa (CCA) focused on U.S.-Africa Trade and Investment. The event took place on the sidelines of the IMF-World Bank Spring Meetings and brought together finance ministers from several African countries, including Cote d’Ivoire, Democratic Republic of the Congo, Ghana, Nigeria, and Zambia, along with a deputy finance minister from South Africa.During the roundtable, participants delved into various crucial topics. They discussed the...