Treasury Secretary Scott Bessent’s comments about the safety net program ventured into the so-called third rail of American politics.
Category: Treasury Department
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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.
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Wall Street’s Regulatory Reins Start Loosening as Fed Proposes New Rule
The central bank is planning to reduce a capital buffer for the country’s largest banks, which critics warn will make the financial system less resilient.
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U.S. Textile Makers, Feeling Forgotten by Trump, Hope Boom Days Are Ahead
The Trump administration faces hard choices in determining what industries to protect as it uses tariffs to construct an industrial policy.
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What’s Next as the Latest U.S.-China Trade Talks Conclude
U.S. negotiators say the London summit represented progress. But investors and business leaders remain wary.