Statement on State Fiscal Recovery Funds and Tax Conformity

The American Rescue Plan Act of 2021 includes $350 billion in fiscal relief funding for States, territories, Tribal governments, counties, cities, and small local governments. The funding will allow these governments to support vital public health and economic responses to the pandemic, provide premium pay to essential workers, replace lost government revenue to prevent harmful […]

Treasury Sanctions Pakistan-based Transnational Human Smuggling Organization Involved in Smuggling Migrants to the United States

WASHINGTON – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Pakistani national Abid Ali Khan and the Abid Ali Khan Transnational Criminal Organization (TCO) pursuant to Executive Order (E.O.) 13581, “Blocking Property of Transnational Criminal Organizations,” as amended.  The Abid Ali Khan TCO is a human smuggling organization based […]

Treasury Secretary Janet Yellen Pens Op-Ed in Wall Street Journal

Today, in an op-ed to be published in the April 8, 2021, edition of The Wall Street Journal, Secretary Janet L. Yellen called for an end to the global race to the bottom on corporate taxes. This is also a provision of the Made in America Tax Plan, a part of President Biden’s American Jobs […]

Treasury Releases Made in America Tax Plan Report

WASHINGTON – Today, the U.S. Department of the Treasury released the Made in America Tax Plan Report to provide additional depth on the plan first announced last week as part of President Biden’s American Jobs Plan, a comprehensive proposal aimed at increasing investment in infrastructure, the production of clean energy, the care economy, and other […]

Treasury, IRS disburse 25 million more Economic Impact Payments under the American Rescue Plan

Social Security and other beneficiaries bring total to more than 156 million payments; VA beneficiaries payments to be disbursed on April 14 WASHINGTON – Today, the U.S. Department of the Treasury, the Internal Revenue Service, and the Bureau of the Fiscal Service announced they are disbursing more than 25 million payments in the fourth batch of […]

READOUT: Treasury Deputy Secretary Wally Adeyemo Met with the Payments Leadership Council

Today, Deputy Secretary Wally Adeyemo met virtually with CEOs from seven U.S.-based payment companies and representatives from the Payments Leadership Council (PLC) to discuss the important role electronic payments and financial inclusion play in our economic recovery.  Deputy Secretary Adeyemo reiterated how critical it is that businesses and government work together toward a swift and […]

Readout: Secretary of the Treasury Janet L. Yellen’s Meeting with the African Leaders Dialogue on the COVID-Climate Emergency

Earlier today, Secretary of the Treasury Janet L. Yellen addressed the virtual meeting of the African Leaders Dialogue on the COVID-Climate Emergency, co-hosted by African Development Bank President Akinwumi Adesina and Global Center on Adaptation Chair Ban Ki-Moon.  The Secretary stressed her commitment to cooperate with African partners on innovative solutions, including through multilateral financial institutions, […]

Remarks by Secretary Janet Yellen, World Bank President David Malpass, and IMF Managing Director Kristalina Georgieva in Conversation at the 2021 Spring Meetings, “Economic Recovery: Toward a Green, Resilient, and Inclusive Future”

Economic Recovery: Toward a Green, Resilient, and Inclusive Future MALPASS Thank you very much, Larry. It’s a pleasure to be here with IMF Managing Director Kristalina Georgieva and with U.S. Treasury Secretary Janet Yellen to discuss the economic recovery in the kickoff of our Spring Meetings. The world faces major challenges, including COVID, climate change, […]

Remarks by Secretary of the Treasury Janet L. Yellen addressing the threat of climate change to the Coalition of Finance Ministers for Climate Action

Remarks as prepared Thank you to Minister Vanhanen and Minister Cerda for inviting me to speak to you today.  Let me begin by saying how excited the Biden-Harris Administration is to bring the United States back into the fold to tackle the generational issue of climate change.  Climate, by its very nature, requires strong global […]

Treasury Sanctions Violent CJNG Members and Cartel Facilitator

WASHINGTON – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Carlos Andres Rivera Varela and Francisco Javier Gudino Haro, who are violent members of the Cartel de Jalisco Nueva Generacion (CJNG).  These two individuals have allegedly helped orchestrate assassinations using high-powered weaponry on behalf of CJNG, a Mexico-based organization […]