Treasury Secretary Scott Bessent sought total control over the I.R.S., an agency where Mr. Long, the new commissioner, had started to put his own mark on the job.
Category: Treasury Department
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U.S. Ethics Agency Warns Bessent Over Conflicts of Interest
The Treasury secretary has been slow to divest assets, including farmland, that he pledged to shed.
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Trump Warns of Economic Disaster if Court Strikes Down Tariffs
The president has crowed about the billions of dollars collected so far from tariffs. That money could be at risk if the White House loses the legal battle.
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Who Pays for U.S. Tariffs, and Where Does the Money Go?
President Trump is seeking to raise federal revenue by imposing levies on goods from foreign nations. Here’s how the process works.
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Investment Fund Seals Trade Deal for Japan and Expands Trump’s Influence
President Trump will get to decide where to invest Japanese money and the United States will keep 90 percent of the profits, the White House said.
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He Helped Big Companies Dodge Taxes. Now He’s Writing the Rules.
Ken Kies, a longtime tax lobbyist who worked for some of the world’s largest businesses, is now running the Treasury Department’s office that will administer Trump’s tax law.
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How the $1,000 ‘Trump Accounts’ for Newborns Will Work
The payments, part of the new domestic policy law, are for U.S. citizens born this year through 2028. The idea is that the money in the accounts will have many years to grow.
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Bessent Steps Up Criticism of Fed as Auditions for Chair Intensify
The Treasury secretary is breaking with tradition in publicly assailing the central bank’s policies as President Trump looks for its next leader.
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Why China Isn’t Lecturing Trump About His Costly Bill
Beijing has a history of warning Washington about the safety of its Treasury holdings. This time it may have reasons to stay silent, at least publicly.
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Thought Markets Were Volatile in the First Half? Watch Out.
Stocks have rebounded, but the dollar is in a deep slump. Here’s what could go right (and very wrong) for investors.
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Trump Administration Tells Congress to Kill ‘Revenge Tax’ From Policy Bill
Treasury Secretary Scott Bessent said the Group of 7 agreed that penalties related to a 2021 “global minimum tax” deal will not apply to American companies.