WASHINGTON, D.C. – Today the U.S. Treasury Department and the IRS released the following information on certain clean vehicle provisions of the Inflation Reduction Act. The information provides greater clarity to consumers and businesses that, beginning January 1, 2023, will be able to access tax benefits from the law’s clean vehicle provisions. FAQs for consumers […]
Category Archives: U.S. Treasury
Treasury Sanctions Iranian Regime Officials Tied to Continued Violence Against Protestors
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is targeting the Prosecutor General and key military and paramilitary officials in Iran, as well as a company manufacturing and providing Iran’s Law Enforcement Forces with anti-riot equipment. As nationwide protests continue throughout Iran, the response from Iranian security forces […]
Treasury Announces Three Additional Capital Projects Fund Awards to Increase Access to Affordable, High-Speed Internet
Illinois, Indiana, and North Carolina are approved to receive approximately $444 million under the American Rescue Plan and will connect over 170,000 homes and businesses to affordable, high-speed internet WASHINGTON — Today, the U.S. Department of the Treasury announced the approval of broadband projects in three additional states under the American Rescue Plan’s Capital Projects Fund: […]
Treasury Implements Historic Humanitarian Sanctions Exceptions
United States Becomes First Country to Implement New Humanitarian Resolution WASHINGTON –Today, following this month’s adoption of United Nations Security Council Resolution (UNSCR) 2664, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) took historic steps to further enable the flow of legitimate humanitarian assistance supporting the basic human needs of vulnerable populations while continuing to deny […]
READOUT: Deputy Secretary of the Treasury Wally Adeyemo’s Visit to Germany
BERLIN – Yesterday, U.S. Treasury Deputy Secretary and State Secretary of the German Federal Chancellery Jorg Kukies convened a roundtable of German business leaders from the industrial, energy, and automotive sectors to discuss shared opportunities to promote economic growth and prosperity and advance the transition to a clean energy economy. The Deputy Secretary and State […]
READOUT: Deputy Secretary of the Treasury Wally Adeyemo’s Meeting with Polish Minister of Climate and Environment Anna Moskwa
BRUSSELS – Today, U.S. Treasury Deputy Secretary Adeyemo met with Polish Minister of Climate and Environment Anna Moskwa in Brussels. The Deputy Secretary and Minister reaffirmed the importance of the U.S.-Poland relationship to both countries, exemplified by their strong commitment to the NATO alliance, to supporting the people of Ukraine, and to holding Russia accountable […]
Treasury Announces Information Timeline for Inflation Reduction Act Tax Implementation
WASHINGTON, D.C. – Today the U.S. Treasury Department announced a timeline for providing additional information on key tax provisions of the Inflation Reduction Act. The timeline provides clarity to consumers and businesses, that, beginning January 1, 2023, will be able to access tax benefits from many of the law’s climate provisions. Before year’s end, Treasury […]
Acting Comptroller Provides Statements at Financial Stability Oversight Council Meeting
WASHINGTON — Acting Comptroller of the Currency Michael J. Hsu today provided statements at the Financial Stability Oversight Council (FSOC) meeting with respect to climate-related financial risk and the FSOC annual report. In his statement, Mr. Hsu offered his support for the Federal Reserve’s proposed principles relating to the safe and sound management of climate-related […]
Financial Stability Oversight Council Releases 2022 Annual Report
WASHINGTON – The Financial Stability Oversight Council (Council) today unanimously approved its 2022 annual report. The report notes that, amid heightened geopolitical and economic shocks and inflation, risks to the U.S. economy and financial stability have increased even as the financial system has exhibited resilience. The annual report reviews financial market developments, describes potential emerging […]
Statement from Secretary of the Treasury Janet L. Yellen on the European Union Directive Implementing a Global Minimum Tax
WASHINGTON — Secretary of the Treasury Janet L. Yellen released the following statement following the directive of the European Union to move forward with implementing a global minimum tax on corporations. “I welcome the decision by all 27 member states of the European Union to adopt a Directive implementing a global minimum tax on corporations. […]