A default would most likely rattle markets and carry big risks, no matter how the Federal Reserve and Treasury try to curb the fallout.
Category: Treasury Department
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As Debt Ceiling Threat Looms, Wall Street and Washington Have Only Rough Plans
The New York Times – Business: -
U.S. Will Hit Debt Limit Jan. 19, Yellen Tells Congress
The New York Times – Business:The Treasury Department expects to begin taking “extraordinary measures” to continue paying the government’s obligations ahead of what’s expected to be a big fight to raise the borrowing cap.
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Which Electric Vehicles Qualify for Federal Tax Credits?
The New York Times – Business:Here is a partial list of electric and plug-in hybrid vehicles that will qualify for federal tax credits in 2023.
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Treasury Department Outlines Rules for New Corporate Taxes
The New York Times – Business:The preliminary guidance applies to an alternative minimum tax for large corporations and a tax on stock buybacks, which helped fund President Biden’s climate and health bill.
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New I.R.S. Rules for Online Sales Sow Fears About Surprise Tax Bills
The New York Times – Business:Users of digital wallets and e-commerce platforms like Venmo, CashApp, Etsy and StubHub must start reporting small transactions.
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Yellen is First Female Treasury Secretary With Signature on U.S. Dollar
The New York Times – Business:Two women — the first female Treasury secretary and the first Native American to serve as U.S. treasurer — now have their signatures on America’s currency.
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At the DealBook Summit, Untangling the Now — and the Future
The New York Times – Business:In challenging times, choosing the direction of a company can be a lot like shifting pieces of a puzzle — with sometimes staggering consequences.
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David Lipton, Economic Diplomat, Will Step Down From Treasury
The New York Times – Business:Mr. Lipton, who served in senior roles in the Clinton and Obama administrations and at the I.M.F., is retiring.
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Yellen Urges Congress to Raise Debt Limit Beyond 2024 Election
The New York Times – Business:Republicans might try to use the borrowing cap as leverage if they achieve a majority in the House or Senate, but the Treasury secretary cautioned against a “devastating economic self-inflicted blow.”
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Yellen Calls for ‘Stabilizing’ U.S. Relations With China Ahead of G20
The New York Times – Business:The Treasury secretary said in an interview that the United States was not trying to “paralyze China’s economy and stop its development.”