The Latest Breaking News from Treasury Department

Obscure law contains debt limit escape hatch for Social Security - Roll Call

It’s a time-worn argument for raising the debt limit: Without increased borrowing authority, Social Security checks would stop flowing.

Roll Call · Mar 2, 2023

What is the US national debt and how has it grown over time?

The national debt grew by more than $4 trillion in 2020 alone.

USAFacts · Mar 1, 2023

Treasury deputy: Russia sanctions are degrading its military

A top Treasury Department official says Russia’s mounting battlefield losses are a testament to the effectiveness of U.S. and allied sanctions on the Kremlin and its military machine

The Independent UK · Feb 21, 2023

US Sanctions Nine Entities of ‘Critical Role’ in Iranian Petrochemicals, Petroleum Trade

The United States on Thursday imposed sanctions on nine Iranian entities it accused of playing a critical role in the production of petrochemicals and petroleum. Secretary of State Antony Blinken said in a statement that the latest sanctions were part of “continued efforts to enforce US sanctions on Iran’s petroleum…

Asharq Al-Awsat · Feb 10, 2023

State of the Union 2023: Data and context behind Biden’s address

Biden highlighted legislative achievements from his past two years and described his economic, health, climate, and safety priorities moving forward. Here are the facts and data.

USAFacts · Feb 8, 2023

Tesla hikes price of Model Y after US alters tax credit rule

Tesla has raised prices on its Model Y in the U.S., apparently due to rising demand and changes in U.S. government rules that make more versions of the small SUV eligible for tax credits

The Independent UK · Feb 4, 2023

What counts as an SUV? Treasury shifts definition for EV tax credits after carmaker complaints

WASHINGTON — The U.S. Treasury is changing how it defines a sport utility vehicle Friday after car companies lodged complaints that some vehicles were wrongfully being boxed out of new electric vehicle tax credits.

Tribune News Service · Feb 3, 2023

Treasury makes more electric SUVs eligible for tax credits

The Treasury Department said Friday it is making more electric vehicles — including SUVs made by Tesla, Ford and General Motors — eligible for tax credits of up to $7,500 under new vehicle classification definitions

The Independent UK · Feb 3, 2023

U.S. sanctions board of directors of Iranian drone maker

The United States on Friday imposed sanctions on the board of directors of Iranian drone maker Paravar Pars, the U.S. Treasury Department said, adding Iranian drones were being used by Russia to attack Ukraine's critical infrastructure.

Reuters · Feb 3, 2023

Biden Promotes a Hummer That Doesn't Even Qualify for His Electric Vehicle Tax Credits

Biden sat in a truck that costs as much as $120,000 to promote a tax credit that only applies to electric vehicles retailing for up to $80,000.

Reason · Feb 2, 2023