Updated Joint Statement from the United States and Türkiye Regarding a Compromise on a Transitional Approach to Existing Unilateral Measures During the Interim Period Before Pillar 1 is in Effect March 12, 2024 On October 8, 2021, the United States and Türkiye joined 134 other members of the G20/OECD Inclusive Framework on Base Erosion and […]
Category Archives: U.S. Treasury
U.S. Department of the Treasury, IRS Launch Direct File Pilot Program
Direct File Now Available in Spanish, Open to All Eligible Taxpayers 24/7, New State-By-State Eligibility Numbers Released WASHINGTON – Today, the U.S. Department of the Treasury and Internal Revenue Service (IRS) launched the new Direct File Pilot Program, including a new Spanish version of the free tax filing service following weeks of successful testing. The […]
U.S. Targets Al-Ashtar Brigades Operatives
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is taking action in coordination with the Kingdom of Bahrain against key Iran-based operatives and a financial facilitator for designated terrorist group Al-Ashtar Brigades. The Department of State designated Al-Ashtar Brigades as a Foreign Terrorist Organization and a Specially Designated […]
U.S. Department of the Treasury Outlines Tax Proposals to Reduce the Deficit, Lower Costs for Working Families, and Ensure the Wealthy and Large Corporations Pay their Fair Share
WASHINGTON—Today, the U.S. Department of the Treasury released the General Explanations of the Administration’s Fiscal Year 2025 Revenue Proposals, or “Greenbook,” to explain the revenue proposals included in President Joe Biden’s budget. The Greenbook outlines critical tax proposals that will support President Biden’s investments in the American people by ensuring the wealthy and large corporations pay […]
Treasury Designates Transnational al-Shabaab Money Laundering Network
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on 16 entities and individuals who compose an expansive business network spanning the Horn of Africa, the United Arab Emirates (UAE), and Cyprus that raises and launders funds for al-Shabaab, a terrorist group affiliated with al-Qa’ida. Individuals within […]
FSOC and the Brookings Institution to host Conference on Artificial Intelligence and Financial Stability on June 6-7, 2024
WASHINGTON – The Financial Stability Oversight Council (FSOC) in partnership with the Brookings Institution, will host a two-day conference on Artificial Intelligence (AI) and Financial Stability. AI in financial services has grown rapidly. Innovations in AI can offer many benefits, such as reducing costs and improving efficiencies, but they can also introduce or exacerbate risks […]
On the Third Anniversary of President Biden’s American Rescue Plan, Treasury Releases New Data on How State and Local Aid Fueled National Economic Recovery
New analysis demonstrates that state and local aid fueled national economic recovery from the COVID-19 crisis WASHINGTON – Today, to mark the third anniversary of President Biden’s American Rescue Plan (ARP) Act, the U.S Department of the Treasury is releasing new data illustrating that this historic legislation supported both immediate pandemic recovery and long-term economic […]
Secretary of the Treasury Janet L. Yellen on the Inter-American Development Bank Group Annual Meetings and IDB Invest Capital Increase
WASHINGTON – The United States applauds the successful Annual Meetings of the Inter-American Development Bank (IDB) Group and warmly welcomes the decisions by Governors to approve a capital increase for the Group’s private sector arm, IDB Invest, and adopt a new Group-wide Institutional Strategy. As the largest shareholder, the United States is proud to join […]
READOUT: Assistant Secretary Alexia Latortue and Special Presidential Advisor Dodd host Meeting of the Finance Track of the Americas Partnership for Economic Prosperity
PUNTA CANA – The United States hosted a meeting of the Finance Track of the Americas Partnership for Economic Prosperity on the sidelines of the Inter-American Development Bank (IDB) Annual Meetings in Punta Cana, Dominican Republic. The meeting was chaired by Treasury Assistant Secretary for International Trade and Development Alexia Latortue and Special Presidential Advisor […]
U.S. Department of the Treasury and State Insurance Regulators Launch Coordinated Effort on Homeowners Insurance Data Collection to Assess the Effects of Climate Risk on U.S. Insurance Markets
FIO expects to begin receiving data this summer WASHINGTON – Today, the U.S. Department of the Treasury’s Federal Insurance Office (FIO) advanced its efforts to collect insurance data to better understand the impacts of climate-related financial risks on the insurance sector, by launching a first-of-its kind collaboration with state insurance regulators and the National […]