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The Latest Breaking News from the Treasury Department

Ted Cruz Urges Scott Bessent to Go Around Congress and Enact $200B Tax Cuts

Republican Sens. Ted Cruz and Tim Scott formally urged Treasury Secretary Scott Bessent to enact roughly $200 billion in tax cuts without the approval of Congress.

International Business Times

US imposes sanctions on Rwanda military over DR Congo fighting

The US on Monday imposed sanctions on the Rwanda Defence Force and top military officials over their role in ongoing fighting in eastern Democratic Republic of Congo and called for their immediate withdrawal from the mineral-rich region.

Radio France Internationale

Treasury Department terminates union contracts for IRS and Bureau of the Fiscal Service workers

The Treasury Department says it has ended its collective bargaining agreement with unionized workers employed at the Internal Revenue Service

The Independent UK

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Cuba says it killed heavily armed exiles who attacked from US-registered speedboat

Rare clash off island’s coast took place amid US oil embargo and heightened tensions between two countries

The Guardian - UK

Missing Your $637 Stay NJ Benefit? The Processing Glitch Delaying Payments for Many Seniors

Many New Jersey seniors are eagerly watching for their first Stay NJ benefit, a new property tax relief payment designed to cut bills for older...

Saving Advice

A U.S. 'debt spiral' could start soon as the interest rate on government borrowing is poised to exceed economic growth, budget watchdog says

CRFB warned the actual fiscal outlook could be far worse than even the latest sobering projections.

Fortune

Trump’s buried secrets are out, and now the Treasury has blacklisted a billion-dollar consulting firm after one employee went rogue

It was inevitable.

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Ending tax refunds by check will speed payments, but risks sidelining people who don’t have bank accounts

More than 6 million Americans receive paper tax refund checks annually. Often, those refunds go to purchase groceries or pay the bills. But this year, those taxpayers may be surprised to learn that the paper check they’re waiting for no longer exists.

The Conversation

Deficits boost U.S. debt but also inflate corporate profits and stocks, so reducing red ink could trigger a financial crisis, analysts warn

"In the financialized U.S. economy, each dollar of deficit spending may flow into a dollar of corporate profit."

Fortune

Why the DOJ Has Stopped Describing Maduro as the Head of a Literal Drug Cartel

That embarrassing mistake highlights the slipperiness of Trump's attempts to justify legally dubious policies by invoking the specter of "foreign terrorist organizations."

Reason

Trump Admin Investigating Money Lending Companies Across Southern Border Over Cartel Ties

The U.S. Treasury Department is investigating dozens of money lending companies across the southern border over potential cartel ties, according to a new report.

Latin Times

US removes Brazilian Supreme Court justice and his wife from sanctions list

The U.S. has removed Brazilian Supreme Court Justice Alexandre de Moraes from its sanctions list

The Independent UK

Treasury rachets up investigations targeting Minnesota's Somali community for fraud

The Treasury Department is targeting businesses used to send money abroad as President Donald Trump's administration ramps up investigations into fraud within Minnesota's Somali community

The Independent UK

Who Is DJ Rosita? United States Formally Ties Venezuelan Influencer and Actress to Tren de Aragua Gang

The U.S. government has formally linked Venezuelan DJ and actress Jimena Romina Araya Navarro, known as Rosita, to activities supporting the Tren de Aragua criminal organization. The accusation appears in an official action by the Treasury Department published on December 3, 2025, which includes Rosita on a list of individuals…

Latin Times

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Roll Call

Democrats tee off on possible Treasury corporate tax move - Roll Call

A group of Democrats is leading opposition to a potential regulatory carve-out from a new minimum tax on corporate profits.

The Independent UK

Epstein survivors call on Congress to force Trump administration to hand over financial records

Bank records at the Treasury Department could expose the sex trafficker’s ‘cross-border criminal organization,’ victims say

The Independent UK

IRS relaxes ‘no tax on tips law’ so more workers can take advantage. Here’s who will benefit

Treasure Department’s tax collector said it was providing temporary ‘transition relief’ to workers in certain jobs that otherwise wouldn’t have been eligible for ‘no tax on tips’

The Independent UK

Trump brushes off Mamdani’s ‘fascist’ comments and declares incoming NYC mayor ‘can do a very good job’: Live updates

‘You’re going to have, hopefully, a really great mayor,’ Trump said with a smile at his Friday press conference with Mamdani

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Saving Advice

Did The Treasury Department Just Change Rules on Your IRA?

Retirement accounts like IRAs are designed to provide stability, but government rules around them change frequently. The Treasury Department’s latest adjustments in 2025 affect how...

TechRadar

Hackers, your game is over - US government announces ‘strike force’ to stamp out Southeast Asian cyber scams

US Strike Force disrupts Southeast Asian scam centers, seizing cryptocurrency and targeting DKBA and Chinese criminal networks.

Euronews

No more pennies for your thoughts? US finally stops minting 1 cent coin

The US Mint in Philadelphia pressed its last penny on Wednesday, marking the latest step in the 1-cent coin's demise.

The Independent UK

Trump team is secretly handing out massive tax breaks to wealthy American corporations: report

The proposed regulations tack on to the tax relief laid out in the president’s ‘One Big Beautiful Bill’ Act

Tom’s Hardware

OpenAI asks U.S. to expand CHIPS Act tax credit to cover AI infrastructure despite firm's denial wanting a government 'backstop' for its massive loans

OpenAI has asked the Trump administration to expand a major CHIPS Act tax credit to support the build-out of AI infrastructure, including servers, data centers, and power systems.

Latin Times

Treasury Sanctions Mexico-Based Human Smuggling Ring For Trafficking Migrants Into The U.S.

The Treasury Department has sanctioned members of a transcontinental smuggling ring on Thursday

The Independent UK

Banks and retailers run short on pennies as the US Mint stops making them

The United States is experiencing a shortage of pennies after President Trump decided to stop their production earlier this year

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