5/15/2018

IRAN/SANCTIONS/TERRORISM/TREASURY/TRUMP AS PRESIDENT: “The Trump administration designated the head of Iran’s central bank as a global terrorist on Tuesday [5-15-18] for funneling money to Hezbollah, placing further financial constraints on the nation a week after President Trump called for reimposing sanctions that were lifted as part of an Obama-era deal. The new designation is separate […]

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5/10/2018

NOMINATIONS/SENATE/TREASURY/TRUMP PEOPLE: “Adam Lerrick has withdrawn as President Donald Trump’s nominee for assistant Treasury secretary for international finance, after languishing for more than a year without Senate confirmation. Lerrick, a visiting scholar at the American Enterprise Institute and a former investment banker, has extensive experience in dealing with sovereign debt crises in countries like Greece, […]

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5/10/2018

IRAN/SANCTIONS/TREASURY/TRUMP AS PRESIDENT: “The U.S. Treasury Department on Thursday [5-10-18] levied sanctions against several Iranian firms, individuals and officials it said are operating an illegal currency-exchange network in the United Arab Emirates, and accused Iran’s central bank of being complicit in operations that funneled dollars into the country for Iran’s elite military unit, the Quds […]

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5/9/18

LEGAL/MICHAEL COHEN/RUSSIA/TREASURY/TRUMP PEOPLE/WOMEN: “The Treasury Department’s Inspector General is investigating whether confidential financial information related to President Donald Trump’s longtime personal attorney Michael Cohen might have been leaked, IG spokesman Rich Delmar confirmed Wednesday [5-9-18]. The probe was launched after Michael Avenatti, lawyer to adult film star Stormy Daniels, distributed a document claiming that AT&T, […]

Read More… from 5/9/18

4/17/2018

RUSSIA/SANCTIONS/TREASURY/TRUMP AS PRESIDENT/TRUMP PEOPLE: “US Ambassador to the UN Nikki Haley got ahead of herself in announcing new sanctions on Russia, a top aide to President Donald Trump said on Tuesday [4-17-18]. Still, National Economic Council chairman Larry Kudlow insisted there was no confusion within the administration about the sanctions issue…Haley announced on CBS’s ‘Face […]

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4/2/2018

ECONOMY/STEVE MNUCHIN/TREASURY/TRUMP AS PRESIDENT/TRUMP PEOPLE: “President Trump on Monday [4-2-18] will tap Justin Muzinich, a top aide to Treasury Secretary Steven Mnuchin, as the Treasury Department’s deputy secretary, a powerful role that includes overseeing a broad portfolio of policy matters like taxes, financial regulation, trade and economic sanctions. The nomination fills a void in the […]

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3/18/2018

CHINA/TRADE DEALS/TREASURY/TRUMP AS PRESIDENT: “The U.S. Treasury Department is planning to use laws designed to address national emergencies to block Chinese firms from acquiring advanced U.S. technology, part of a Trump administration initiative to thwart what it sees as Beijing’s efforts to give itself an economic and military edge, according to administration officials. The Trump […]

Read More… from 3/18/2018

3/20/2018

ECONOMY/STEVE MNUCHIN/TARIFFS/TREASURY/TRUMP AS PRESIDENT: “President Trump’s plan to hit countries around the world with stiff tariffs on imports of steel and aluminum has dominated a gathering of world economic leaders amid fears that the United States is on the cusp of starting an international trade war. On Monday [3-19-20], Steven Mnuchin, the United States Treasury […]

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3/15/2018

ETHICS/STEVE MNUCHIN/TREASURY: “Treasury Secretary Steven Mnuchin’s use of military aircraft has cost taxpayers nearly $1 million for eight trips, newly released documents show. That includes a one-week trip to the Middle East in late October, which cost $183,646 for flights on military aircraft. That trip came on top of $811,797.81 in previously reported expenditures for […]

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3/15/2018

2016 ELECTION/CYBERWAR/RUSSIA/TREASURY: “The Trump administration on Thursday [3-15-18] issued for the first time sanctions against Russia for meddling in the 2016 U.S. presidential elections and for cyberattacks, targeting the Kremlin’s intelligence agencies and individuals indicted by special counsel Robert Mueller for their role in election interference. In sanctioning five entities and 19 individuals, the U.S. […]

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3/15/2018

2016 ELECTION/CYBERWAR/JUSTICE DEPARTMENT/ROBERT MUELLER/RUSSIA/STEVE MNUCHIN/TREASURY/TRUMP AS PRESIDENT/UK: “The Trump administration on Thursday [3-15-18] issued for the first time sanctions against Russia for meddling in the 2016 U.S. presidential election and for cyberattacks, targeting the Kremlin’s intelligence agencies and individuals indicted by special counsel Robert Mueller for their role in election interference. In sanctioning five entities […]

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3/11/2018

COMMERCE/TAXES/TREASURY: “The legislative blitz that rocketed the $1.5 trillion tax cut through Congress in less than two months created a host of errors and ambiguities in the law that businesses big and small are just now discovering and scrambling to address. Companies and trade groups are pushing the Treasury Department and Congress to fix the […]

Read More… from 3/11/2018

3/9/2018

ETHICS/TREASURY/TRUMP BUSINESS: “The Trump Organization said Friday [3-9-18] it donated about $150,000 to the U.S. Treasury last month, an amount the company said represented its 2017 profits from foreign governments. George Sorial, executive vice president of the Trump Organization, said in a statement the donation was ‘voluntary’ and ‘fulfills our pledge to donate profits from […]

Read More… from 3/9/2018

3/7/2018

STEVE MNUCHIN/TARIFFS/TRADE DEALS/TREASURY/TRUMP AS PRESIDENT: “Treasury Secretary Steven Mnuchin said the White House will move forward with steel and aluminum tariffs despite strong pushback from congressional Republicans and business groups, one day after President Donald Trump’s top economic adviser resigned following the surprise policy decision… Mr. Mnuchin said it was possible the White House would […]

Read More… from 3/7/2018

3/6/2018

CYBERWAR/JUSTICE DEPARTMENT/RUSSIA/TREASURY/TRUMP AS PRESIDENT: “The Trump administration could impose new sanctions on Russian entities as soon as next week, a senior administration official told CNN. Among the entities being considered for sanctions is the Internet Research Agency, a Kremlin-linked Russian troll group, the official said. The Internet Research Agency was at the heart of a […]

Read More… from 3/6/2018

3/6/2018

NAFTA/TARIFFS/TRADE DEALS/TREASURY/TRUMP AS PRESIDENT: “President Donald Trump’s steel and aluminum tariffs may not apply to Canada and Mexico as the U.S. negotiates deals with those countries, Treasury Secretary Steven Mnuchin said Tuesday [3-6-18]. Testifying at a House Appropriations subcommittee hearing, Mnuchin faced increasing opposition from fellow Republicans to the president’s tariff proposals announced last week… […]

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3/6/2018

BANKING/TREASURY: “Bipartisan legislation expected to clear the Senate as early as this week has just one provision that is set to directly benefit the nation’s megabanks: a section aimed at making it easier for them to buy state and local bonds. The provision, championed by Citigroup Inc. and other large banks, would ease a new […]

Read More… from 3/6/2018

3/5/2018

COMMERCE/ECONOMY/TARIFFS/TRADE DEALS/TREASURY/TRUMP AS PRESIDENT: “Since President Donald Trump announced plans last week to hit steel and aluminum imports with new tariffs, his trade adviser Peter Navarro and Commerce Secretary Wilbur Ross have been all over television celebrating their victory and rebutting suggestions that the move would incite a damaging trade war. But economic adviser Gary […]

Read More… from 3/5/2018

3/5/2018

BANKING/LEGAL/TREASURY/TRUMP PEOPLE: “The bank used by President Donald Trump’s personal lawyer to wire $130,000 to a former adult-film actress flagged the transaction as suspicious and reported it to the Treasury Department, according to a person familiar with the matter. The lawyer, Michael Cohen, wired the money to a lawyer for former actress Stephanie Clifford, known […]

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2/27/2018

BEN CARSON/ETHICS/HUD/TREASURY: “A high-ranking civil servant at the Department of Housing and Urban Development claims she was demoted after raising concerns about agency spending and Secretary Ben Carson’s redecorating plans. In a sworn complaint to the Office of Special Counsel, HUD official Helen Foster said she was targeted for reprisals in part because incoming Trump […]

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2/23/2018

FOREIGN POLICY/NORTH KOREA/TRADE DEALS/TREASURY/TRUMP AS PRESIDENT: “The Trump administration on Friday [2-23-18] levied what it called its largest ever North Korea sanctions package, hitting dozens of shipping and trading companies as it seeks to further cut off foreign-currency revenues keeping the nuclear-armed regime afloat. The administration sanctioned nearly 60 companies and ships and one individual […]

Read More… from 2/23/2018

2/22/2018

BANKING/FOREIGN POLICY/NORTH KOREA/TREASURY: “A Latvian bank threatened with U.S. sanctions for allegedly conducting a global money laundering scheme, including for companies connected to North Korea’s missile program, is seeking more than a half billion dollars in government bailout money in an effort to stay afloat. The accusations against ABLV Bank by the U.S. Treasury Department […]

Read More… from 2/22/2018

2/19/2018

BUDGET/GOP/IRS/TAXES/TREASURY: “A turf battle is breaking out in the Republican Party over which agencies should have a say in writing new regulations stemming from last year’s landmark tax legislation. Some Republican senators are pressuring the Office of Management and Budget to get involved in reviewing tax regulations, breaking a 35-year-old practice where tax regulatory work […]

Read More… from 2/19/2018

2/6/2018

CONSUMER PROTECTION/STEVE MNUCHIN/TREASURY: “U.S. Treasury Secretary Steven Mnuchin on Tuesday [2-6-18] said he wants to know how the Consumer Financial Protection Bureau is handling a probe into a hack of credit bureau Equifax Inc after a report that the agency’s chief has pulled back from investigating the matter. Equifax disclosed in September that hackers had […]

Read More… from 2/6/2018

2/5/2018

DEFENSE/INTELLIGENCE/NATIONAL SECURITY/STATE/TREASURY/TRUMP MEMORANDA: “SUBJECT: Delegation of Certain Functions and Authorities under Section 1238 of the National Defense Authorization Act for Fiscal Year 2018 By the authority vested in me as President by the Constitution and the laws of the United States of America, including section 301 of title 3, United States Code, I hereby delegate […]

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1/31/2018

BUDGET/IRS/TREASURY: “The Congressional Budget Office said Wednesday [1-31-18] the government will most likely run out of cash to pay its bills in the first half of March unless Congress raises the federal borrowing limit. CBO previously had projected Treasury would run out of cash in ‘late March or early April,’ but said the effects of […]

Read More… from 1/31/2018

1/30/2018

RUSSIA/STEVE MNUCHIN/TREASURY/TRUMP AS PRESIDENT: “U.S. Treasury Secretary Steven Mnuchin told lawmakers that the Trump administration plans to levy new Russia sanctions based on a list of oligarchs and senior government officials published late Monday [1-29-18]. Mr. Mnuchin’s comments on Tuesday come as some lawmakers criticized the administration for failing to issue new sanctions under a […]

Read More… from 1/30/2018

1/30/2018

FOREIGN POLICY/RUSSIA/TREASURY: “The U.S. Treasury Department released an unclassified list of Russian senior political figures and oligarchs, provoking ire in Moscow even as its consequences were unclear. The list totaled more than 200 names of top officials, heads of state-controlled companies and wealthy businessmen. President Vladimir Putin isn’t on the list, but top Kremlin aides […]

Read More… from 1/30/2018

1/25/2018

TAXES/TREASURY: “Treasury Department tax experts are skeptical about states allowing taxpayers to make charitable contributions to circumvent a new cap on deductions for state and local taxes, a department official said Thursday [1-25-18]. The comments from Thomas West, the tax legislative counsel, serve as a warning to lawmakers in New York, New Jersey and California […]

Read More… from 1/25/2018

1/24/2018

STEVE MNUCHIN/TREASURY: “U.S. Treasury Secretary Steven Mnuchin brushed off worries about the dollar Wednesday [1-24-18] and expressed little concern over the decision by 11 Pacific Rim countries to forge a new commercial bloc that excludes the U.S… It is unusual for a Treasury secretary to comment on where the dollar should be. Mr. Mnuchin, who […]

Read More… from 1/24/2018

1/19/2018

ATF/TREASURY/TRUMP AS PRESIDENT: “The Trump administration has drafted plans to strip key authorities from the Bureau of Alcohol, Tobacco, Firearms and Explosives, senior administration officials said on Friday, an acknowledgment that the agency has all but abandoned its legacy of fighting liquor and tobacco smugglers… But the modern A.T.F. has focused its stagnant budget on […]

Read More… from 1/19/2018

1/12/2018

GOP/IRS/STEVE MNUCHIN/TREASURY: “Republican lawmakers have said they intend to pass a technical corrections bill, but any new law is likely to need 60 votes in the Senate, a difficult hurdle. Lawmakers have already started to re-examine one change that would give some farmers and cooperatives a significant tax advantage over their competitors. Mr. Mnuchin also […]

Read More… from 1/12/2018

1/12/2018

GOP/STEVE MNUCHIN/TREASURY: “Treasury Secretary Steven Mnuchin loves being at the center of the White House action, a place he found himself again on Thursday [1-11-18], in the briefing room talking about the latest round of corporate pay hikes and bonuses. The latest West Wing appearance was right in Mnuchin’s sweet spot, on the implementation and […]

Read More… from 1/12/2018

1/10/2018

BUDGET/IRS/STEVEN MNUCHIN/TREASURY: “When Treasury Secretary Steven Mnuchin was asked at his confirmation hearing what he thought about using private companies to collect money owed to the government, he replied that it ‘seems like a very obvious thing to do.’ It may have been obvious, but it certainly was not economical. Private debt collectors cost the […]

Read More… from 1/10/2018

1/10/2018

BANKING/TREASURY: “The Trump administration plans to unveil a major revision to decades-old banking rules that mandate lending to poor borrowers. Changes to the regulations of the Community Reinvestment Act—a law first enacted in 1977—could potentially transform the way banks make billions of dollars in loans, investments and donations to poorer customers. In all, they could […]

Read More… from 1/10/2018

1/4/2018

IRAN/PROTESTS/STATE/TREASURY: “The U.S. imposed sanctions on five entities tied to Iran’s ballistic-missile program, seeking to punish Tehran for its management of the economy as thousands of Iranians protest against their government. Treasury Department officials blamed Iran’s Islamic Revolutionary Guard Corps and other parts of the government for funding proxies across the Middle East despite the […]

Read More… from 1/4/2018

12/24/2017

PROTESTS/STEVE MNUCHIN/TREASURY: “A box filled with manure and addressed to Steven Mnuchin, the Treasury secretary, was left Saturday [12-24-17] at his neighbor’s home in the upscale Bel-Air neighborhood of Los Angeles, the police told KNBC-TV. Helicopter footage from the station showed the manure spilling onto the ground after the authorities emptied the box, which was […]

Read More… from 12/24/2017

12/22/2017

FOREIGN POLICY/LEGAL/TREASURY: “The U.S. on Thursday [12-21-17] blacklisted 13 individuals it accused of serious human rights abuse and corruption, including a former Chinese security official, the son of a top Russian prosecutor, and a billionaire Israeli businessman linked to the Congo’s ‘blood diamond’ industry. The sanctions are the first under new powers signed into law […]

Read More… from 12/22/2017

12/21/2017

TREASURY/TRUMP AS PRESIDENT: “Mortgage-finance giants Fannie Mae and Freddie Mac will retain some of their quarterly earnings as part of an agreement between the Trump administration and their regulator to allow the companies to build a small buffer against future operating losses. Under the agreement, announced Thursday [12-21-17] by the Treasury Department and the Federal […]

Read More… from 12/21/2017

12/21/2017

BUDGET/CONSUMER PROTECTION/TREASURY/TRUMP AS PRESIDENT: “The Trump administration’s move to put its budget chief in charge of the Consumer Financial Protection Bureau exposed a divide between a White House faction and the Treasury Department over just what the role of the consumer watchdog should be. The installation of Mick Mulvaney, head of the Office of Management […]

Read More… from 12/21/2017

12/20/2017

2016 ELECTION/RUSSIA/STEVEN MNUCHIN/TREASURY/TRUMP AS PRESIDENT: “The U.S. Treasury Department’s Office of Inspector General said late Wednesday [12-20-17] it won’t pursue a request to probe whether Treasury Secretary Steven Mnuchin should recuse himself from federal investigations into alleged Russian interference in the 2016 presidential election. Democratic lawmakers, public-interest groups and left-leaning nonprofits have questioned in recent […]

Read More… from 12/20/2017

12/20/2017

FOREIGN POLICY/RUSSIA/TREASURY/TRUMP AS PRESIDENT: “The U.S. on Wednesday [12-20-17] blacklisted Chechen leader and Kremlin ally Ramzan Kadyrov and four other Russians as part of the Trump administration’s first sanctions decision under the Magnitsky Act, a federal law targeting Russian human-rights abusers. The move stands to further strain Washington’s relations with Moscow, coming after Russians linked […]

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12/20/2017

GOP/IRS/TAXES/TREASURY/TRUMP AS PRESIDENT: “The most sweeping tax code overhaul in a generation will soon head to President Donald Trump’s desk — and Republicans are enjoying a victory dance. Now comes the real-world turmoil. America’s new tax system will go into effect in just 12 days, and payroll companies are bracing for confusion as they figure […]

Read More… from 12/20/2017

12/11/2017

STEVEN MNUCHIN/TAXES/TRADE DEALS/TREASURY/TRUMP AS PRESIDENT: “The Trump administration’s planned overhaul of U.S. corporate tax law came under attack Monday [12-11-17] from finance ministers of Europe’s five largest economies, voicing the growing anxiety among foreign executives and officials that the proposals would give American firms unfair tax advantages. In a letter sent to Treasury Secretary Steven […]

Read More… from 12/11/2017

12/11/2017

POLITICS/TAXES/TREASURY: “The Treasury Department said Monday [12-11-17] that the GOP tax plan currently before Congress would need an assist from other Trump administration priorities to pay for itself. Tax cuts alone aren’t enough, Treasury said in a one-page analysis, citing welfare reform and infrastructure spending as additional boosts to the economy. The analysis assumes that […]

Read More… from 12/11/2017

11/20/2017

TREASURY/TRUMP AS PRESIDENT: “The Trump administration on Monday [11-20-17] imposed sanctions on what the Treasury Department describes as a ‘large-scale’ Iranian counterfeiting ring that it says is run by the Islamic Revolutionary Guard Corps and potentially worth hundreds of millions of dollars. The action against the network affiliated with the IRGC, an elite military wing […]

Read More… from 11/20/2017

11/16/2017

ENERGY/STATE/TREASURY/TRUMP MEMORANDA: “Presidential Memorandum for the Secretary of State, the Secretary of the Treasury, and the Secretary of Energy Presidential Determination Pursuant to Section 1245(d)(4)(B) and (C) of the National Defense Authorization Act for Fiscal Year 2012 By the authority vested in me as President by the Constitution and the laws of the United States, […]

Read More… from 11/16/2017

11/16/2017

NATIONAL DEBT/TREASURY: “The Treasury Department has unveiled a new strategy for managing federal debt that could ease pressures set to push up long-term interest rates and reduce a potential drag on the economy. Under the plan unveiled earlier this month by Treasury, the department would increase the share of shorter-term debt issuance and reduce the […]

Read More… from 11/16/2017

11/12/2017

STEVEN MNUCHIN/TAXES/TREASURY: “President Trump’s Treasury secretary says most middle income Americans will get a tax break under the Republican plan brewing in Congress. But he stopped short of saying that break would be for all of them. ‘By simplifying the code, we’re putting everybody on a level playing field,’ Steven Mnuchin told CNN’s Jake Tapper […]

Read More… from 11/12/2017

11/9/2017

TREASURY/VENEZUELA: “The U.S. Treasury Department will announce more sanctions on Thursday [11-9-17] against top Venezuelan officials, The Wall Street Journal reported, citing a U.S. Senate aide. According to the aide, the sanctions against the top members of the Venezuelan government are linked to human rights abuses and corruption, the report said. The new sanctions target […]

Read More… from 11/9/2017

11/6/2017

DODD-FRANK/TREASURY: “Economist Richard Berner plans to leave his post as the Treasury Department’s first-ever director of the Office of Financial Research at the end of the year. The office was created by the Dodd-Frank financial overhaul to analyze financial data to spot potential market risks, and its director is confirmed to a six-year term, which […]

Read More… from 11/6/2017

10/26/2017

STEVEN MNUCHIN/TAXES/TREASURY: “Treasury Secretary Steven Mnuchin is the de facto frontman for the administration’s proposed overhaul of the U.S. tax system because of his extreme loyalty to President Donald Trump and the scores of tax policy experts and economists at his command. But Mnuchin, a former investment banker and movie financier with no prior experience […]

Read More… from 10/26/2017

10/25/2017

FOREIGN POLICY/STEVEN MNUCHIN/TREASURY/TRUMP AS PRESIDENT: “The Trump administration on Wednesday [10-25-17] imposed sanctions on eight individuals and a business affiliated with the Islamic State in Yemen and with Al Qaeda in the Arabian Peninsula in the first coordinated action taken with a newly formed center to combat terrorist financing led by the United States and […]

Read More… from 10/25/2017

10/24/2017

BANKING/CONSUMER PROTECTION/MIKE PENCE/OBAMA/TREASURY: “Congress overturned a rule by an Obama-appointed financial regulator that would have made it easier for consumers to sue banks in groups, with Vice President Mike Pence casting a tiebreaking vote in the Senate. The 51-50 vote handed the financial industry its most significant legislative victory since President Donald Trump took office […]

Read More… from 10/24/2017

10/20/2017

BUDGET/NATIONAL DEBT/TREASURY: “The federal budget deficit widened in fiscal year 2017 to the sixth highest deficit on record as government spending growth outpaced growth in tax collections for the second year in a row, the Treasury Department said Thursday [10-19-17]. The budget shortfall rose to $666 billion in the fiscal year that ended on Sept. […]

Read More… from 10/20/2017

10/18/2017

IRAN/TREASURY/TRUMP AS PRESIDENT: “A U.S. Treasury Department official said Washington would roll out more sanctions on Iran later this month as part of a preview of the U.S. strategy toward that country following the decision by President Donald Trump not to re-certify Iran’s compliance with a nuclear agreement. As part of the new Iran policy, […]

Read More… from 10/18/2017

10/13/2017

STEVE MNUCHIN/TAXES/TREASURY: “Treasury Secretary Steven Mnuchin said Friday [10-13-17] that some parts of a Republican plan to overhaul the tax code could be permanent, while others would only be temporary. Mr. Mnuchin, speaking at a conference of international bankers, also said he expects Congress can have a bill to the president’s desk by the beginning […]

Read More… from 10/13/2017

10/12/2017

DHS/STATE/TREASURY/TRUMP MEMORANDA: “Memorandum for the Secretary of State, the Secretary of the Treasury, and the Secretary of Homeland Security Delegation of Certain Functions and Authorities under the Countering America’s Adversaries Through Sanctions Act of 2017… I hereby delegate to the Secretary of State the functions and authorities vested in the President by section 110 of […]

Read More… from 10/12/2017

10/5/2017

ETHICS/STEVE MNUCHIN/TREASURY: “Treasury Secretary Steven Mnuchin has not violated any laws with his use of government-funded planes but should provide more detail on why he needs them in the future, the department’s inspector general found in a report released Thursday [10-5-17]. Mnuchin has flown on military aircraft seven times since becoming secretary, at a cost […]

Read More… from 10/5/2017

10/4/2017

TAXES/TREASURY: “The U.S. Treasury Department said Wednesday [10-4-17] it will withdraw proposed Obama -era regulations that would have made it harder for business owners to avoid estate and gift taxes. The rules, proposed in 2016 but never put into effect, targeted so-called ‘valuation discounts.’ Those enable businesses to pack valuable assets inside the lifetime exclusion […]

Read More… from 10/4/2017

10/1/2017

BUDGET/GOP/TAXES/TREASURY: “Trump administration officials pushed back Sunday [10-1-17] against criticism that the emerging GOP tax plan would provide its biggest benefits to the wealthy. Treasury Secretary Steven Mnuchin and White House budget director Mick Mulvaney said on Sunday news programs that key details of the plan remained undecided and thus it was too early to […]

Read More… from 10/1/2017

9/29/2017

STATE/TREASURY/TRUMP MEMORANDA: “Presidential Memorandum for the Secretary of State, the Secretary of the Treasury, and the Director of National Intelligence Delegation of Certain Functions and Authorities under the Countering America’s Adversaries Through Sanctions Act of 2017, the Ukraine Freedom Support Act of 2014, and the Support for the Sovereignty, Integrity, Democracy, and Economic Stability of […]

Read More… from 9/29/2017

9/29/2017

NORTH KOREA/TRADE DEALS/TREASURY/TRUMP EXEC ORDERS: ” ‘Imposing Additional Sanctions with Respect to North Korea’ The order imposes wide-ranging sanctions that penalize North Korea and anyone doing business with the country. It seeks to cut off sources of revenue to North Korea and punish anyone trading in goods, services, or technology with the country, including by […]

Read More… from 9/29/2017

9/29/2017

FEDERAL RESERVE/NOMINATIONS/STEVEN MNUCHIN/TREASURY/TRUMP AS PRESIDENT: “President Donald Trump and Treasury Secretary Steven Mnuchin met with former Federal Reserve governor Kevin Warsh on Thursday [9-28-17] to discuss his potential nomination as the next Fed chairman, a White House official said, signaling that the West Wing is moving ahead with a process that the president has said […]

Read More… from 9/29/2017

9/28/2017

BUDGET/ECONOMY/STEVEN MNUCHIN/TREASURY/TAXES: “The Treasury Department has taken down a 2012 economic analysis that contradicts Secretary Steven Mnuchin’s argument that workers would benefit the most from a corporate income tax cut. The 2012 paper from the Office of Tax Analysis found that workers pay 18% of the corporate tax while owners of capital pay 82%. That […]

Read More… from 9/28/2017

9/26/2017

FOREIGN POLICY/NORTH KOREA/TREASURY/TRUMP AS PRESIDENT: “The United States added eight North Korean banks and 26 individuals operating in four countries to its sanctions blacklist on Tuesday [9-26-17], part of an intensified effort to starve North Korea financially in response to the country’s nuclear weapons and missile testing. The action by the Treasury Department came less […]

Read More… from 9/26/2017

9/25/2017

STEVE MNUCHIN/TAXES/TREASURY: “Steven Mnuchin is facing the biggest test of his short political career. The Treasury secretary has been working for months to bridge divides between an impulsive president and a fractious Congress to deliver on the Republican Party’s promise of a simpler tax code with lower rates. He has a powerful tailwind. Both Donald […]

Read More… from 9/25/2017

9/20/2017

ECONOMY/FOREIGN POLICY/HUMAN RIGHTS/IMMIGRATION/NATIONAL SECURITY/NORTH KOREA/NUKES/SANCTIONS/SECRETARY OF STATE/TREASURY/TRUMP EXECUTIVE ORDERS: “I, DONALD J. TRUMP, President of the United States of America, find that: The provocative, destabilizing, and repressive actions and policies of the Government of North Korea, including its intercontinental ballistic missile launches of July 3 and July 28, 2017, and its nuclear test of September […]

Read More… from 9/20/2017

9/14/2017

ETHICS/STEVE MNUNCHIN/TREASURY: “Treasury Secretary Steven Mnuchin requested the use of a military aircraft to fly him and his wife to several European countries for their honeymoon following their June wedding, but he later withdrew the request, a Treasury spokesman said Wednesday [9-13-17]. Mr. Mnuchin asked to use the government jet to travel with his new […]

Read More… from 9/14/2017

9/13/2017

BUDGET/NATIONAL DEBT/TREASURY: “The U.S. government ran a $108 billion budget deficit in August ahead of a late September deadline for Congress to raise the federal borrowing limit and authorize new spending to keep the government open. Federal government outlays last month totaled $334 billion, exceeding $226 billion in total receipts, the Treasury Department said Wednesday […]

Read More… from 9/13/2017

9/12/2017

STEVEN MNUCHIN/TAXES/TREASURY: “Treasury Secretary Steven Mnuchin said Tuesday [9-12-17] the GOP’s tax overhaul proposal would seek to exclude services companies from enjoying a new lower rate on businesses that don’t pay corporate taxes. Mr. Mnuchin emphasized that policy makers want to ensure they don’t create loopholes for certain individuals or businesses to take advantage of […]

Read More… from 9/12/2017

9/12/2017

CONSUMER PROTECTION/CYBERWAR/FTC/TREASURY: “A U.S. senator on Tuesday [9-12-17] called for a criminal investigation of executives from credit bureau Equifax Inc (EFX.N) for stock sales after a massive data breach this summer, and said their actions were comparable to insider trading. The breach, which the company learned about in July but did not acknowledge until this […]

Read More… from 9/12/2017

9/8/2017

STATE/TREASURY/TRUMP MEMORANDA: “Presidential Memorandum for the Secretary of State and the Secretary of the Treasury Delegation of Authority under the Global Magnitsky Human Rights Accountability Act By the authority vested in me as President by the Constitution and the laws of the United States of America, including section 301 of title 3, United States Code, […]

Read More… from 9/8/2017

9/1/2017

BUDGET/CRISIS/TEXAS/TREASURY: “Widespread support on Capitol Hill for Hurricane Harvey relief aid could help ease passage of high-stakes fiscal legislation that Congress must approve in September, lawmakers and analysts say. As Texas and Louisiana began to regroup after the storm’s record rainfalls, both Democrats and Republicans said they hoped to pass emergency relief funding quickly when […]

Read More… from 9/1/2017

8/25/2017

ECONOMY/TREASURY/TRUMP MEMORANDA/VENEZUELA: “Text of a Letter from the President to the Speaker of the House of Representatives and the President of the Senate Pursuant to the International Emergency Economic Powers Act (IEEPA) (50 U.S.C. 1701 et seq.), I hereby report that I have signed an Executive Order with respect to Venezuela that takes additional steps […]

Read More… from 8/25/2017

8/24/2017

NATIONAL DEBT/TREASURY: “Early signs of concern about the federal debt ceiling are creeping into the financial markets, as President Donald Trump pressured lawmakers over how to proceed on the issue. While stocks remain sturdy, the yields on Treasury bills that mature shortly after the debt-limit deadline have been on the rise. A Treasury bill due […]

Read More… from 8/24/2017

8/22/2017

STEVE MNUCHIN/TREASURY: “Louise Linton, the actress and wife of Treasury Secretary Steven Mnuchin, shot back at an online commenter Monday [8-21-17] evening, bragging of her family’s wealth and calling the commenter ‘adorably out of touch’ beneath a post in which she identified several high-end brands she was wearing in the photo. In the photo, Linton […]

Read More… from 8/22/2017

8/21/2017

NATIONAL DEBT/STEVE MNUCHIN/TREASURY: “Senate Majority Leader Mitch McConnell (R., Ky.) said Monday [8-21-17] there was ‘zero chance’ that the U.S. would fail to raise the federal debt ceiling. Mr. McConnell expressed confidence in Congress’s ability to avoid missing federal payments in advance of a legislative sprint in September that will also address expiring government funding […]

Read More… from 8/21/2017

8/10/2017

BUDGET/TREASURY: “The risks of a budget crisis or fiscal mishap in Washington are rising, which could weigh on financial markets in the weeks ahead. Forecasters in The Wall Street Journal’s monthly survey of economists see on average a 22% chance of the government shutting down at the end of next month and a 17% chance […]

Read More… from 8/10/2017

8/3/2017

GOP/NATIONAL DEBT/STEVE MNUCHIN/TREASURY: “Republican congressional leaders are quietly preparing to pass a ‘clean’ debt ceiling increase, according to multiple senior GOP sources — setting the stage for a high-risk showdown with rank-and-file Republicans this fall. Trump administration officials, led by Treasury Secretary Steven Mnuchin, are imploring Congress to raise the $19.8 trillion debt limit with […]

Read More… from 8/3/2017

7/30/2017

NATIONAL DEBT/STEVE MNUCHIN/TREASURY: “Republicans are leaving town for an August recess after a failed attempt to repeal the Affordable Care Act. When they return in September, they’ll have just 12 working days to avert another big problem. In a letter to lawmakers Friday, U.S. Treasury Secretary Steven Mnuchin said the federal borrowing limit, or debt […]

Read More… from 7/30/2017

7/27/2017

NATIONAL DEBT/STEVE MNUCHIN/TREASURY: “Treasury Secretary Steven Mnuchin told lawmakers Thursday [7-27-17] he has ‘no intent’ to prioritize certain government payments and delay others if Congress fails to raise the federal borrowing limit… Government debt hit the statutory limit in mid-March, and Treasury has been using extraordinary measures since then to raise enough cash to keep […]

Read More… from 7/27/2017

7/26/2017

BUDGET/STEVE MNUNCHIN/TREASURY: “Treasury Secretary Steven Mnuchin said Wednesday [7-26-17] his agency’s efforts to conserve cash until Congress raises the federal borrowing limit impose a ‘significant’ cost on taxpayers. Government debt hit the borrowing limit in mid-March, and the Treasury has been using these ‘extraordinary measures’ since then to raise cash to keep paying the government’s […]

Read More… from 7/26/2017

7/25/2017

CHINA/FOREIGN POLICY/NORTH KOREA/STATE/TREASURY/UN: “The U.S. soon will issue new sanctions against Chinese entities for violating United Nations sanctions against North Korea, a senior State Department official said Tuesday [7-25-17]. Susan Thornton, acting assistant secretary of the State Department’s East Asian bureau, told a Senate Foreign Affairs subcommittee the Treasury Department shortly will be targeting more […]

Read More… from 7/25/2017

7/23/2017

DEBT/TREASURY: “In August 2012, the federal government abruptly changed the terms of the bailout provided to Fannie Mae and Freddie Mac, the mortgage finance giants that had been devastated by the financial crisis. Instead of continuing to receive payments on the taxpayer assistance, Treasury officials decided to begin seizing all the profits both companies generated […]

Read More… from 7/23/2017

7/20/2017

CRIME/RUSSIA/TREASURY: “The U.S. Treasury Department on Thursday [7-20-17] imposed a $2 million fine on Exxon Mobil Corp. for what it called a ‘reckless disregard’ of U.S. sanctions on Russia while Secretary of State Rex Tillerson was the oil giant’s chief executive, a finding the company immediately said it would challenge. Exxon, under Mr. Tillerson, in […]

Read More… from 7/20/2017

7/20/2017

RUSSIA/TREASURY/TRUMP PEOPLE/REX TILLERSON: “The Treasury Department said Thursday [7-20-17] it is fining Exxon Mobil Corp. $2 million for violating sanctions related to Russia in 2014, when Secretary of State Rex Tillerson was CEO of the company. In May of that year, the presidents of Exxon Mobil’s U.S. subsidiaries ‘dealt in services of an individual whose […]

Read More… from 7/20/2017

7/18/2017

TAXES/TREASURY/TRUMP AS PRESIDENT: “President Donald Trump’s pick to run the Treasury Department’s tax policy office said he wished he had acted differently when the accounting firm he helped lead was marketing aggressive tax shelters. David Kautter was director of Ernst & Young LLP’s national tax practice when the firm was selling sophisticated tax shelters to […]

Read More… from 7/18/2017

7/11/2017

SUDAN/TREASURY/TRUMP MEMORANDA: “A Message to the Congress of the United States Consistent with subsection 401(b) of the National Emergencies Act, 50 U.S.C. 1641(b), and subsection 204(b) of the International Emergency Economic Powers Act, 50 U.S.C. 1703(b), I hereby report that I have issued an Executive Order (the “order”) that amends Executive Order 13761 of January […]

Read More… from 7/11/2017

6/29/2017

CHINA/NORTH KOREA/TREASURY: “The U.S. Department of the Treasury announced a new set of actions Thursday [6-29-17] aimed at increasing pressure on North Korea, including cutting off a Chinese bank that is accused of laundering money and providing financing to North Korea in violation of international sanctions. ‘This bank has served as a gateway to North […]

Read More… from 6/29/2017

6/29/2017

CHINA/NORTH KOREA/TREASURY: “The U.S. Department of the Treasury announced a new set of actions Thursday [6-29-17] aimed at increasing pressure on North Korea, including cutting off a Chinese bank that is accused of laundering money and providing financing to North Korea in violation of international sanctions. ‘This bank has served as a gateway to North […]

Read More… from 6/29/2017

6/29/2017

BUDGET/TREASURY: “The government could run out of cash to pay its bills in early to mid-October, unless Congress raises the federal borrowing limit, according to a new analysis from the Congressional Budget Office released Thursday [6-29-17]. The Treasury Department has been using cash-conservation measures to continue meeting the government’s obligations since mid-March, when federal debt […]

Read More… from 6/29/2017

6/21/2017

RUSSIA/STATE/TREASURY/UKRAINE: “Russia called off a meeting later this week with U.S. officials in protest of new U.S. sanctions, and the State Department said Wednesday it regretted Russia’s decision. The U.S. on Tuesday [6-20-17] blacklisted Ukrainian and Russian officials and entities accused of helping Russia exert its influence in the Crimean peninsula and eastern Ukraine, a […]

Read More… from 6/21/2017

6/21/2017

FOREIGN POLICY/RUSSIA/TREASURY/TRUMP AS PRESIDENT/UKRAINE: “The Kremlin said Wednesday [6-21-7] that it was formulating ‘various options’ to respond to fresh U.S. sanctions over its military interventions in Ukraine. ‘As sanctions in the previous years have shown, the main principle of reaction to sanctions actions is the principle of reciprocity. It’s completely explicable and understandable,’ Kremlin spokesman […]

Read More… from 6/21/2017

6/20/2017

CRIME/INTELLIGENCE/RUSSIA/TREASURY: “Members of the Senate intelligence committee said Tuesday [6-20-17] they were promised access to data from the Treasury Department’s financial crimes unit, as they dig into potential ties between the campaign of President Donald Trump and Russian financiers. ‘The stack of press reports gets higher every day regarding financial connections between Trump associates and […]

Read More… from 6/20/2017

6/20/2017

CABINET/NATIONAL DEBT/TREASURY/TRUMP PEOPLE/STEVE MNUCHIN: “Treasury Secretary Steven Mnuchin said Tuesday [6-20-17] he isn’t concerned about U.S. tax receipts coming in lower than expected in recent months. If the trend continues, it could shorten the amount of time the government has before it runs out of cash to pay its bills unless Congress raises the federal […]

Read More… from 6/20/2017

6/12/2017

FEDERAL RESERVE/TREASURY: “The Federal Reserve, which holds more bonds than any other investor, is planning how to shed some of them starting this year. And no one is too worried about it. The Fed is expected to announce in the near future a plan to gradually reduce its $4.5 trillion portfolio of Treasuries and mortgage-backed […]

Read More… from 6/12/2017

6/12/2017

STEVE MNUCHIN/TREASURY/TRUMP PEOPLE: “Treasury Secretary Steven Mnuchin said Monday [6-12-17] that the U.S. government can be funded through ‘the beginning of September’ and urged lawmakers to raise the federal borrowing limit before they leave for their summer recess. He reiterated remarks he made last week that if Congress doesn’t raise the federal borrowing limit before […]

Read More… from 6/12/2017

6/12/2017

BANKING/TREASURY/TRUMP AS PRESIDENT: “The Trump administration will recommend limits on the U.S. consumer-finance regulator and a reassessment of a broad range of banking rules in a report to be released as early as Monday [6-12-17], according to people familiar with the matter. The report from the Treasury Department, drafted in response to a February executive […]

Read More… from 6/12/2017