WASHINGTON – Today the U.S. Department of the Treasury and Internal Revenue Service (IRS) released proposed guidance on the section 45X Advanced Manufacturing Production Credit established by President Biden’s Inflation Reduction Act (IRA), which is already creating good-paying American jobs by spurring a U.S. manufacturing boom in communities across the country, strengthening America’s energy security, and incentivizing […]
Category Archives: U.S. Treasury
U.S. Department of the Treasury Announces New Federal Funds to Help Close the Digital Divide in Wisconsin Through President Biden’s Investing in America Agenda
To date, the Capital Projects Fund has awarded $9 billion for broadband, digital technology, and multi-purpose community center projects in all 50 states, which those states estimate will reach more than 2 million locations WASHINGTON — Today, the U.S. Department of the Treasury announced the approval of $140 million in federal funds for Wi-Fi […]
New U.S. Department of the Treasury Blog: Sanctions and Export Controls are Limiting Putin’s Capabilities
WASHINGTON – Today, the U.S. Department of the Treasury released a blog on the impacts of sanctions and export controls on the Russian economy. The blog, by Rachel Lyngaas, Treasury’s Chief Sanctions Economist, analyzes the consequences of the brutal war itself, U.S. and partners’ sanctions and related measures, and the Russian government’s policy response to those […]
READOUT: Financial Stability Oversight Council Meeting on December 14, 2023
WASHINGTON – Today, U.S. Secretary of the Treasury Janet L. Yellen convened a meeting of the Financial Stability Oversight Council (Council) in executive and public sessions at the U.S. Department of the Treasury (Treasury). During the executive session, the Council heard an update from staff of the Board of Governors of the Federal Reserve System and Treasury […]
Remarks by Secretary of the Treasury Janet L. Yellen on the U.S.-China Economic Relationship
WASHINGTON – On Thursday, December 14, Secretary of the Treasury Janet L. Yellen delivered remarks on the U.S.-China economic relationship at the U.S-China Business Council’s 50th Anniversary Dinner in Washington, DC. As Prepared for Delivery Good evening. Thank you to the U.S.-China Business Council for the invitation and to Marc for the introduction. We are […]
Remarks by Under Secretary for Terrorism and Financial Intelligence Brian Nelson at the U.S.-India Anti-Money Laundering and Countering the Financing of Terrorism Working Group
As Prepared for Delivery I would like to thank the Ministry of Finance for hosting today’s Working Group. I would also like to extend a special thanks to my co-chair Ministry of Finance Secretary Sanjay Malhotra. For those whom I have not had the opportunity to meet, I am Brian Nelson, Treasury’s Under Secretary for […]
Treasury Sanctions Human Smuggling and Drug Trafficking Organization Operating on Southwest Border
Administration-Wide Action Taken in Coordination with Government of Mexico WASHINGTON — Following Secretary of the Treasury Janet L. Yellen’s trip to Mexico, where she continued close coordination with the Government of Mexico on countering the illicit drug trade and other shared security priorities, today Treasury’s Office of Foreign Assets Control (OFAC) sanctioned the Malas Mañas transnational […]
Joint Statement of the Co-Chairs of the U.S.-India Anti-Money Laundering and Countering the Financing of Terrorism Dialogue
NEW DELHI – At the conclusion of the U.S. Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) dialogue, the co-chairs, Under Secretary of the Treasury Brian Nelson and Sh. Sanjay Malhotra, Revenue Secretary, Indian Ministry of Finance, issued the following statement: “On December 13, 2023, we, U.S. Treasury Under Secretary for Terrorism and Financial Intelligence Mr. Brian Nelson […]
U.S. and U.K. Target IRGC-QF Support to Hamas and Other Proxy Groups
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the United Kingdom are jointly taking action against Iran’s Islamic Revolutionary Guard Corps – Qods Force (IRGC-QF), Hamas, and Palestinian Islamic Jihad (PIJ). The U.K. is taking its first action pursuant to new Iran-related authorities, targeting eight actors, including […]
Financial Stability Oversight Council Releases 2023 Annual Report
WASHINGTON – The Financial Stability Oversight Council (Council) today unanimously approved its 2023 annual report. The annual report reviews financial market developments, describes potential emerging threats to U.S. financial stability, identifies vulnerabilities in the financial system, and makes recommendations to mitigate those threats and vulnerabilities. Overall, the Council finds that the U.S. financial system remains […]