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The Latest Breaking News from the Treasury Department

Yellen: Different system needed to end repeated standoffs over US debt ceiling

Treasury Secretary Janet Yellen says that in her personal opinion, the United States should adopt a different system for national finances that might forestall repeated standoffs with Congress over spending

The Independent UK

Chaos? Kumbaya? How the debt limit standoff might end

Just how does this debt limit standoff end

The Independent UK

Republicans and Democrats deadlocked as US debt ceiling deadline nears – as it happened

Negotiations continue over plan to increase debt limit before 1 June deadline

The Guardian - US

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Dollar Declines With T-note Yields

The dollar index (DXY00 ) on Wednesday fell by -0.59%. The dollar on Wednesday posted moderate losses. Lower T-note yields Wednesday undercut the dollar. Also, the lack of clarity regarding the U.S. debt ceiling weighs on the dollar after Treasury Secretary Yellen said the Treasury Department might run out of...

Barchart

Stocks Mixed Ahead of an Expected +25 bp Fed Rate Hike

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is up +0.05%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -0.09%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.24%. U.S. stocks this morning are mixed. The markets are...

Barchart

Yellen to travel to Japan for G7 finance ministers meeting

U.S. Treasury Secretary Janet Yellen will travel to Niigata, Japan next week to participate in the Group of Seven (G7) finance ministers and central bank governors meeting, the Treasury Department said on Wednesday.

Reuters

Family of ex-Bosnian Serb leader sues US to escape sanctions list

Family members of former Bosnian Serb political leader Radovan Karadzic, who was convicted of war crimes for his role in the 1990s Balkan conflict, sued the U.S. Treasury Department on Tuesday over their continued inclusion on a U.S. sanctions list.

Reuters

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US, Turkey cooperate on terrorism-related sanctions -Treasury

The United States worked together to impose terrorism-related sanctions on two individuals linked to funding two Syria-based groups already sanctioned by the United States and United Nations, the Treasury Department said on Tuesday.

Reuters

US borrowing increases as standoff over debt continues

The Treasury Department said Monday it plans to increase its borrowing during the April to June quarter of this year

The Independent UK

Biden Is Rewriting the Rules on Trade—and Americans Should Be Worried

The administration is doing a sneaky end run around the Inflation Reduction Act.

Foreign Policy

What's behind the looming 'x-date' on the US debt limit?

In January, the U.S. government ran up against its legal borrowing capacity of $31.381 trillion, and the Treasury Department began implementing “extraordinary measures” to avoid a default

The Independent UK

Only 10 electric vehicles qualify for full $7,500 US tax credit

Only 10 electric and plug-in hybrid vehicles will qualify for $7,500 federal tax credits in the U.S. after stricter battery-sourcing rules take effect and render most plug-in models ineligible.

Tribune News Service

US imposes new sanctions on Russian oligarch, Hungary bank

The Treasury Department has announced new sanctions aimed at Russian oligarch Alisher Usmanov

The Independent UK

Clean energy projects for coal towns

The Biden administration wants to give a boost to the fossil fuel "energy communities" of coal country

Salon

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Reason

Electric Car Prices Are Falling, With or Without Tax Credits

The Inflation Reduction Act imposes byzantine requirements to qualify for the credits. Some automakers are simply ignoring them and finding other ways to lower prices.

Reason

New Mexico Cops Fatally Shoot Homeowner After Showing Up at the Wrong House

Plus: Los Angeles sues journalist who published police photos, IRS releases $80 billion budget plan, and more...

McClatchy Washington Bureau

‘Total and complete disaster’: DeSantis takes rhetorical aim at Fed Chairman Powell

WASHINGTON — Ron DeSantis has found a new rhetorical target as he prepares for a potential presidential bid: Federal Reserve Chairman Jerome Powell.

Reuters

U.S. sanctions former Haitian official under human rights program

The United States imposed sanctions on the former president of Haiti's Chamber of Deputies on Wednesday under a program focused on human rights abuse and corruption, the Treasury Department said on its website.

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Roll Call

Treasury tops up tax credits where fossil fuel jobs were lost - Roll Call

The administration plans to deploy federal money in former coal towns and communities losing fossil fuel jobs.

Tribune News Service

Getting a discounted electric vehicle is about to become harder

WASHINGTON — It will soon become harder to get a full $7,500 tax credit for a new electric vehicle under proposed rules released Friday by the U.S. Treasury Department — and interested buyers should move fast.

Tribune News Service

New electric vehicle credit rules set, over Manchin’s objections

WASHINGTON — The Treasury Department laid out specifics on how automakers can certify whether their electric cars qualify for new subsidies of up to $7,500 enacted in last year’s climate spending package.

WEKU

The $7,500 tax credit to buy an electric car is about to change yet again

Tax credits for electric car purchases are getting even more complicated. It will likely mean fewer vehicles will qualify — but we don't know which.

Roll Call

New electric vehicle credit rules set, over Manchin's objections - Roll Call

The Treasury Department laid out specifics on how automakers can certify whether their electric cars qualify for new subsidies.

Bangkok Post

Save our fading modern architecture

If you are reading this, you probably hope that we will start taking better care of our historic architecture here in Thailand. But you might not immediately think of our modern buildings constructed during the 1950s, 1960s and 1970s.

Tribune News Service

Biden sidesteps banking turmoil as he calls on Congress to act

As the global banking crisis stretches into its third week, President Joe Biden has turned to a familiar playbook — lay low and point the finger at Congress.

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