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32%  
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Keyword: treasury

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  • What if Beating Trump Is the Easy Part? If Biden holds on, keeping the Democratic coalition intact will take an unusual level of political skill.

    10/21/2020 7:08:41 PM PDT · by karpov · 35 replies
    New York Times ^ | October 21, 2020 | Thomas B. Edsall
    In the short term, should Joe Biden win the election and move into the White House, he would take office with a Democratic Party unified in its opposition to all things Trump. The question is how long would that last before leaders of every liberal interest group circling the new administration begin to get restless. In answer to this question, Carter Eskew, a top strategist on Al Gore’s 2000 campaign, wrote by email that Biden became a unity candidate in response to an overwhelming, almost feral desire to limit Trump’s damage to one term. When Trump leaves, Democratic unity, I...
  • Treasury flagged foreign money flowing to Hunter Biden-tied firms as ‘suspicious’

    09/16/2020 6:11:11 PM PDT · by bitt · 10 replies
    justthenews.com ^ | 9/16/2020 | john Solomon
    Senate panels investigating whether law enforcement, US intel turned blind eye to concerns. A Treasury Department agency that polices financial threats such as money laundering flagged several foreign transactions to Hunter Biden-connected businesses as “suspicious” during the end of the Obama administration and the beginning of the Trump administration. The concerns from the Financial Crimes Enforcement Network (FinCEN) concerns were highlighted in Suspicious Activity Reports turned over to Senate committees over the last year in conjunction with investigations into the Russia and Ukraine scandals, according to several officials familiar with the evidence. As those Senate investigations wind toward the issuance...
  • Treasury Department withholds $1.5 million from FDNY 9/11 health program

    09/12/2020 2:37:21 AM PDT · by Cronos · 10 replies
    CNN ^ | 9/11/2020 | Alex Roger's, betsy klein
    (CNN)The Treasury Department has so far withheld in 2020 approximately $1.5 million from a New York City Fire Department health care program for those who worked at Ground Zero following the September 11 terrorist attacks, according to letters from New York Rep. Peter King. The Republican congressman wrote to Treasury Secretary Steven Mnuchin in June and on September 10, urging him to reimburse the FDNY's World Trade Center Health Program for its services. He wrote that the department apparently withheld the funding due to "a range of issues dealing with different New York City offices and programs that have nothing...
  • Treasury Secretary Mnuchin: $1,200 checks in August

    07/25/2020 6:23:44 PM PDT · by Libloather · 36 replies
    AP via WCVB ^ | 7/25/20 | Lisa Mascaro
    Treasury Secretary Steven Mnuchin said Saturday that Republicans were set to roll out the next COVID-19 aid package Monday and assured there was backing from the White House after he and President Donald Trump's top aide met to salvage the $1 trillion proposal that had floundered just days before. Mnuchin told reporters at the Capitol that extending an expiring unemployment benefit - but reducing it substantially - was a top priority for Trump. The secretary called the $600 weekly aid “ridiculous” and a disincentive for people to go back to work. He also promised a fresh round of $1,200 stimulus...
  • IRS, Treasury say tax filing deadline will stay at July 15

    07/01/2020 3:41:49 AM PDT · by Libloather · 3 replies
    UPI ^ | 6/30/20 | Clyde Hughes
    June 30 (UPI) -- The Treasury Department and Internal Revenue Service say the tax filing deadline won't be extended beyond July 15. The normal April 15 deadline was postponed to July to help taxpayers facing hardship due to the coronvirus pandemic. There have been some calls for another extension, and Treasury Secretary Steven Mnuchin said the agencies mulled delaying it until September. "The IRS understands that those affected by the coronavirus may not be able to pay their balances in full by July 15, but we have many payment options to help taxpayers," IRS Commissioner Chuck Rettig said in a...
  • Twenty-year Treasury bond will add to $25 trillion U.S. debt pile

    05/20/2020 4:14:23 AM PDT · by Oldeconomybuyer · 2 replies
    Reuters ^ | May 20, 2020 | by Saqib Iqbal Ahmed
    NEW YORK - Investors expect robust demand for the Treasury Department’s new $20 billion issue of 20-year bonds, set to launch Wednesday, from U.S. institutions, foreign investors and other market participants. The government’s borrowing needs have jumped dramatically in recent weeks, after Congress authorized trillions in spending to fend off an economic hit from the coronavirus pandemic, which has slammed U.S. growth. The U.S. plans to sell a total of $54 billion of the 20-year bonds over the next three months. The Treasury said earlier this month it intends to increase auction sizes across all nominal coupon tenors over the...
  • EXCLUSIVE: The Treasury Department Spied on Flynn, Manafort, and the Trump Family, Says Whistleblower

    05/18/2020 7:52:37 AM PDT · by dalight
    The Ohio Star ^ | May 18, 2020 | Neil W. McCabe
    President Barack Obama’s Treasury Department regularly surveilled retired Army Lt. Gen. Michael T. Flynn’s financial records and transactions beginning in December 2015 and well into 2017, before, during and after when he served at the White House as President Donald Trump’s National Security Director, a former senior Treasury Department official, and veteran of the intelligence community, told the Star Newspapers. ... Only two names are listed in the whistleblower’s official paperwork, so the others must remain sealed, she said. The second name is Paul J. Manafort Jr., the one-time chairman of Trump’s 2016 presidential campaign. The other names include: Members...
  • EXCLUSIVE: The Treasury Department Spied on Flynn, Manafort, and the Trump Family, Says Whistleblower

    05/18/2020 2:55:46 AM PDT · by Erik Latranyi · 232 replies
    The Ohio Star ^ | 18 May 2020 | Neil W. McCabe
    President Barack Obama’s Treasury Department regularly surveilled retired Army Lt. Gen. Michael T. Flynn’s financial records and transactions beginning in December 2015 and well into 2017, before, during and after when he served at the White House as President Donald Trump’s National Security Director, a former senior Treasury Department official, and veteran of the intelligence community, told the Star Newspapers. “I started seeing things that were not correct, so I did my own little investigation, because I wanted to make sure what I was seeing was correct” she said. “You never want to draw attention to something if there is...
  • Cause of bond 'flash crash' is a mystery, Feds say

    07/13/2015 3:24:42 PM PDT · by BenLurkin · 6 replies
    <p>Even the top federal agencies in the country couldn't find a clear-cut cause that triggered the whiplash in the U.S. Treasury bond market last October 15. The conclusion came from a report published Monday by five federal agencies, including the Federal Reserve and Securities and Exchange Commission.</p>
  • U.S. stimulus package is biggest ever, but may not be big enough

    03/30/2020 10:27:17 AM PDT · by Oldeconomybuyer · 35 replies
    Reuters ^ | March 30, 2020 | by Lawrence Delevingne, Howard Schneider
    The Federal Reserve has offered more than $3 trillion in loans and asset purchases in recent weeks to stop the U.S. financial system from seizing up, but it has not yet directly helped large swaths of the real economy: companies, municipalities and other borrowers with less than perfect credit. That is partly because America’s central bank is not allowed to take much credit risk itself, and loans to lower-rated borrowers have a higher chance of losses. The risk is exacerbated by the spread of coronavirus which have brought economic activity to a screeching halt. To alleviate that constraint, the U.S....
  • The Federal Reserve Now Owns 15 Percent of the U.S. Treasury Market; At Its Current Rate, It Could Own the Whole Market in Less than Two Years

    03/28/2020 5:38:53 PM PDT · by NRx · 15 replies
    Wall Street on Parade ^ | 03-28-2020 | Pam Martens and Russ Martens
    According to the U.S. Treasury, as of February 29, 2020, there was $16.9 trillion in marketable U.S. Treasury securities outstanding. Of that amount, at the end of February, the Federal Reserve held $2.47 trillion or 14.6 percent – making it, by far, the largest single holder of U.S. Treasuries anywhere in the world. ...But exactly how can a so-called “free market” function smoothly if the country’s own central bank is cornering the market. Salomon Brothers paid a $290 million fine and came close to getting slapped with criminal charges by the U.S. Department of Justice in 1992 for manipulating prices...
  • Treasury and IRS to Delay Tax Payment Deadline by 90 Days

    03/17/2020 5:01:00 PM PDT · by SeekAndFind · 33 replies
    NBC News ^ | By Darla Mercado
    axpayers will get a three-month reprieve to pay the income taxes they owe for 2019, Treasury Secretary Steven Mnuchin said on Tuesday at a news conference. As part of its coronavirus response, the federal government will give filers 90 days to pay income taxes due on up to $1 million in tax owed, Mnuchin said in Washington. The reprieve on that amount would cover many pass-through entities and small businesses, he said. Corporate filers would get the same length of time to pay amounts due on up to $10 million in taxes owed, Mnuchin said. During that three-month deferral period,...
  • Tougher Huawei restrictions have stalled after the Pentagon objects, sources say

    01/27/2020 10:46:10 AM PST · by Tolerance Sucks Rocks · 3 replies
    The Pittsburgh Post-Gazette ^ | January 26, 2020 | Ana Swanson, The New York Times
    WASHINGTON — The Trump administration has temporarily shelved a proposed rule change that would further restrict American sales to Huawei, the Chinese telecom giant, after some officials in the Defense Department and other agencies argued that the measure, which was intended to protect national security, could actually undermine it, according to people familiar with the matter. The rule change, which multiple government agencies were reviewing, would close a loophole that allowed technology companies like Intel and Micron to continue shipping chips, software and other products to Huawei despite a ban that prevented the Chinese company from buying some American products....
  • Bill Gates Rejects Donating to U.S. Treasury After Calling for Higher Taxes on Rich

    01/04/2020 8:27:49 PM PST · by SeekAndFind · 63 replies
    PJ Media ^ | 01/04/2020 | Nicholas Ballasy
    Microsoft co-founder Bill Gates rejected the idea of voluntarily donating to the U.S. Treasury after calling for the U.S. government to raise taxes on the wealthy. "When I say the government needs to raise more money, some people ask why Melinda and I don’t voluntarily pay more in taxes than the law requires," Gates, the second-richest person in the world, wrote in a recent blog post. "The answer is that simply leaving it up to people to give more than the government asks for is not a scalable solution. People pay taxes as an obligation of law and citizenship, not...
  • IRS whistleblower said Treasury official might have tried to interfere with Trump audit: report

    10/03/2019 7:23:43 PM PDT · by SeekAndFind · 55 replies
    The Hill ^ | 10/03/2019 | Naomi Jagoda
    An IRS official filed a complaint alleging that he was told that at least one Treasury Department official tried to interfere with an audit of President Trump's or Vice President Pence's tax returns, according to The Washington Post, citing people familiar with the complaint. The whistleblower spoke to the Post and confirmed that he had filed the complaint to Congress's tax-writing committees and the Treasury Inspector General for Tax Administration. “I steadfastly refuse to discuss the substance or details of the complaint, but I have some legitimate concerns about reckless statements being made about whistleblowers,” he told the Post. The...
  • After the Mortgage Crisis Bailout: Have Fannie and Freddie Paid the Taxpayers Back Yet?

    09/20/2019 11:52:59 AM PDT · by SeekAndFind · 4 replies
    RCM ^ | 09/20/2019 | Alex Pollock
    The distinguished judges of the U.S. Court of Appeals for the Fifth Circuit have considered how much Fannie Mae and Freddie Mac have paid the Treasury Department to compensate the taxpayers for the giant bailout which kept Fannie and Freddie in existence and business. The court observed in its September 6 judgment: “The net worth sweep transferred a fortune from Fannie and Freddie to Treasury.” Specifically, “Treasury had disbursed $187 billion and recouped $250 billion.” The “net worth sweep” is the dividend on the senior preferred stock in Fannie and Freddie acquired by the Treasury in the bailout. Originally set...
  • Treasury Targets Chinese Drug Kingpins Fueling America’s Deadly Opioid Crisis

    08/21/2019 1:29:50 PM PDT · by bitt · 14 replies
    home.treasury.gov ^ | 8/21/2019 | staff
    Washington – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and Treasury’s Financial Crimes Enforcement Network (FinCEN) announced coordinated actions to bring additional financial pressure upon those who manufacture, sell, or distribute synthetic opioids or their precursor chemicals. OFAC identified Chinese national Fujing Zheng (Zheng) and the Zheng Drug Trafficking Organization (DTO) as significant foreign narcotics traffickers pursuant to the Foreign Narcotics Kingpin Designation Act (Kingpin Act). OFAC also designated one additional Chinese national, Guanghua Zheng, for his support to the Zheng DTO’s drug trafficking activities, as well as one Chinese entity, Qinsheng Pharmaceutical Co....
  • The Treasury Department Is Wrong. China Didn’t Just Devalue Its Currency.

    08/14/2019 2:21:10 PM PDT · by Tolerance Sucks Rocks · 27 replies
    The Daily Signal ^ | August 13, 2019 | Riley Walters
    The U.S. Treasury Department has incorrectly labeled China a manipulator of its currency. An important distinction exists between devaluing a currency and currency depreciation. Devaluing implies the People’s Bank of China actively manipulated the value of the Chinese renminbi to gain unfair advantage for its exports. Depreciation simply means the renminbi has lost purchasing power relative to the U.S. dollar, based on market forces. There’s no indication that China is actively devaluing its currency. However, according to the Treasury Department, China met a broad definition of manipulation laid out in the Omnibus Trade and Competitiveness Act of 1988, which says...
  • Ex-Fed boss Greenspan says ‘there is no barrier’ to Treasury yields falling below zero

    08/14/2019 6:59:41 AM PDT · by Leaning Right · 38 replies
    MarketWatch ^ | Aug. 14, 2019 | Mark DeCambre
    There is some $15 trillion in government debt that now yields less than zero, and former Federal Reserve Chairman Alan Greenspan believes there’s no reason why U.S. government bond yields couldn’t join much of the developed world in the subzero world.
  • Justice Dept. sides with Treasury over Dem demands for POTUS Trump’s tax returns: ‘Can’t have them’

    06/17/2019 6:49:38 AM PDT · by SleeperCatcher · 10 replies
    The National Sentinel ^ | 6/17/19 | Jon Dougherty
    Democrats in the House have been demanding six years’ worth of POTUS Donald Trump’s tax returns because they say they need them in order to perform their ‘oversight’ role regarding — something — but the president has so far refused to cave to the demands. Last week, the Treasury Department also refused to comply, citing case law and other constitutional provisions that preclude Congress’ right to review the tax returns of any U.S. citizen (which, of course, the president is not just any U.S. citizen). Treasury’s refusal led House Democrats to huff and puff, with Judiciary Committee chair Jerrold Nadler...