Today, The Washington Post published an op-ed by Commissioner of the Internal Revenue Service, Charles P. Rettig. In the piece, Commissioner Rettig urges Congress to enact the administration’s proposal to provide the IRS with $80 billion in vital funding over the next decade. Commissioner Rettig notes: “The Administration estimates $400 billion in additional revenue can […]
Category Archives: U.S. Treasury
Treasury Targets Corrupt Military Officials in Cambodia
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned two Cambodian government officials, Chau Phirun (Chau) and Tea Vinh (Tea), for their roles in corruption in Cambodia. These individuals are designated pursuant to Executive Order (E.O.) 13818, which builds upon and implements the Global Magnitsky Human Rights Accountability […]
Treasury Issues State Small Business Credit Initiative Program Implementation Guidance
The State Small Business Credit Initiative provides $10 billion to expand access to capital for small businesses emerging from the pandemic, build opportunity, and create high-quality jobs across America. WASHINGTON — Today, the U.S. Department of the Treasury issued capital program implementation guidance for the State Small Business Credit Initiative (SSBCI) Program. The American Rescue […]
READOUT: Secretary of the Treasury Janet L. Yellen’s Meeting with Finance Ministers from Australia, Canada, New Zealand, and the United Kingdom
WASHINGTON –U.S. Treasury Secretary Janet L. Yellen hosted a meeting with finance ministers of the “Five Finance Ministries”, which includes Australia, Canada, New Zealand, and the United Kingdom. The ministers reviewed the economic response to the COVID-19 pandemic and progress on increasing vaccination rates to save lives and support the economic recovery. Secretary Yellen emphasized to her Five […]
Secretary of the Treasury Janet L. Yellen Touts Build Back Better Act and Bipartisan Infrastructure Bill at the University of Nevada-Las Vegas (UNLV) Center for Business and Economic Research Outlook Conference
WASHINGTON – Today, U.S. Secretary of the Treasury Janet L. Yellen delivered remarks at the University of Nevada-Las Vegas (UNLV) Center for Business and Economic Research Outlook Conference. In her speech, Secretary Yellen highlighted the Infrastructure Investment and Jobs Act – the once-in-a-generation investment in our nation’s infrastructure that will grow our economy sustainability and […]
Remarks by Secretary of the Treasury Janet L. Yellen at the Department of Commerce’s Interagency Convening on Equitable Economic Growth
Hello everyone. This is Janet Yellen, I want to thank Secretary Raimondo and Deputy Secretary Graves for the invitation to share a few thoughts, and of course, I want to thank all of you for being here today to listen to them. I’ve been an economist for a long time, and one of the areas […]
Acting Comptroller Discusses Climate Change Risk
News Release 2021-116 | November 8, 2021 Share This Page: WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today discussed climate change risk at OCC Headquarters. His remarks highlighted five questions that large bank boards of directors should ask to promote and accelerate improvements in climate risk management practices at their banks. Related Links Media Contact […]
Treasury Continues to Counter Ransomware as Part of Whole-of-Government Effort; Sanctions Ransomware Operators and Virtual Currency Exchange
FinCEN Updates Ransomware Advisory OFAC Sanctions Two Ransomware Operators and a Virtual Currency Exchange Network for the Kaseya Incident and Laundering Cyber Ransoms WASHINGTON — Continuing the Administration’s whole-of-government effort to counter ransomware, the U.S. Department of the Treasury today announced a set of actions focused on disrupting criminal ransomware actors and virtual currency exchanges […]
Inter-Agency Working Group on Treasury Market Surveillance Releases Staff Progress Report that Reviews Potential Policies for Bolstering the Resilience of Treasury Markets
WASHINGTON– The Inter-Agency Working Group on Treasury Market Surveillance (IAWG)—which is comprised of staff from the U.S. Department of Treasury, the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York, the U.S. Securities and Exchange Commission, and the U.S. Commodity Futures Trading Commission—today issued a staff progress report that […]
Statement by Secretary of the Treasury Janet L. Yellen on the Bipartisan Infrastructure Bill
WASHINGTON —Secretary of the Treasury Janet L. Yellen released the following statement on the final passage of the bipartisan infrastructure bill. “The strength of a country’s economy depends on the strength of its infrastructure, and with today’s vote, we have ensured that the American economy will remain strong for decades to come. A once-in-a-generation […]