Category: Treasury Department

I.R.S. Crackdown on Delinquent Millionaires Yields $1 Billion

The beefed-up enforcement is part of the agency’s modernization initiative aimed at improving customer service and catching wealthy tax evaders.
New Plan to Target Russia’s Oil Revenue Brings Debate in White House

Treasury officials want to impose penalties on tankers that help Russian oil evade sanctions. White House aides worry that risks making gasoline more expensive.
Rachel Reeves, Britain’s First Female Chancellor, Turns to Janet Yellen for Inspiration

Rachel Reeves, who will oversee Britain’s budget, is expected to pursue an agenda influenced by Janet Yellen’s more activist approach to job-creation and investment in the United States.
U.S. Unveils Rules to Curb Investments in Chinese Technology

The Treasury Department unveiled rules to curb financing of Chinese semiconductors, quantum computers and artificial intelligence systems.
U.S. Expands Sanctions on Russia as G7 Leaders Gather

The Biden administration is taking new measures aimed at stopping China from helping the Kremlin sustain its war effort against Ukraine. U.S. officials hope European nations will take similar steps.
Interest on Federal Student Loans Is Rising to 6.53%

The rate for undergraduate loans is up from 5.5 percent this past school year and higher than it has been in more than a decade.
U.S. Seeks to Join Forces With Europe to Combat Excess Chinese Goods

Treasury Secretary Janet L. Yellen warned that China’s industrial strategy posed a global threat the requires a united response.
U.S. and Europe Move Closer to Using Russian Assets to Help Ukraine

Finance ministers from the G7 nations are hoping to finalize a plan ahead of the group’s leaders meeting next month.
Supreme Court Rejects Challenge to Consumer Watchdog’s Funding

A decision against the agency, the Consumer Financial Protection Bureau, could have cast doubt on all of its regulations and enforcement actions.
U.S. Imposes Sanctions on Chinese Companies for Aiding Russia’s War Effort

The penalties came after top Biden administration officials warned China not to help Moscow restock its arsenal to attack Ukraine.
Chinese Exports Are Threatening Biden’s Industrial Agenda

The president is increasingly hitting back with tariffs and other measures meant to restrict imports, raising tensions with Beijing.
Biden to Call for Tripling Tariffs on Chinese Steel Products

In a speech to union steelworkers in Pittsburgh, the president will announce several new measures meant to raise new barriers against floods of Chinese imports.