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The Latest Breaking News from Treasury Department

Treasury taps retirement funds to avoid breaching US debt limit

The Treasury Department is beginning the use of special measures to avoid a US payments default, after the federal debt limit was reached Thursday.

Tribune News Service

Treasury begins special measures to avoid breaching US debt limit

The Treasury Department is beginning the use of special measures to avoid a U.S. payments default, after the federal debt limit was reached Thursday.

Tribune News Service

Countdown in the offing for political fight over debt

The countdown toward a possible U.S. government default is in the offing

The Independent UK

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Tesla slashes prices up to 20% in broad bid to boost sales

Tesla Inc. cut prices across its lineup in the US and major European markets in the carmaker’s latest effort to stoke demand after several quarters of disappointing deliveries.

Tribune News Service

US House Republicans announce investigation into President Biden

The new Republican majority in the US House of Representatives have requested information from Twitter, Treasury Dept.

Al Jazeera

Federal COVID aid OK'd to pay for roads, natural disasters

States and local governments soon will have new flexibility to spend billions of dollars of federal coronavirus relief funds on some things not directly related to the pandemic

The Independent UK

U.S., Turkey target financial network linked to Islamic State

The U.S. Treasury Department said on Thursday it was taking joint action with Turkey against a network it said played a key role in money management, transfer and distribution for the Islamic State militant group operating in Iraq and Syria.

Reuters

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Releasing Trump’s tax returns sets a dangerous precedent

The decision threatens the privacy of Democrats as well as Republicans.

Chicago Sun-Times

Democrats May Regret Compromising Taxpayer Privacy To Get Trump

The release of the former president’s tax returns sets a dangerous precedent.

Reason

New EV tax credits OK for leased vehicles, fed guidance says

WASHINGTON— Leased vehicles will likely be able to qualify for new commercial electric vehicle tax credits without meeting stringent mineral and battery requirements or being built in North America, according to U.S. Treasury Department guidance released Thursday.

Tribune News Service

EXPLAINER: 2023 tax credits for EVs will boost their appeal

Starting Jan. 1, many Americans will qualify for a tax credit of up to $7,500 for buying an electric vehicle

The Independent UK

EXPLAINER: 2023 tax credits for EVs will boost their appeal

Starting Jan. 1, many Americans will qualify for a tax credit of up to $7,500 for buying an electric vehicle

The Independent UK

What's in Elizabeth Warren’s new crypto bill?

The money laundering-focused legislation could change the entire ecosystem.

Fortune

House committee votes to release Trump tax returns over objections by U.S. Rep. Kevin Brady

Brady, the top Republican on the House tax-writing committee, urged the committee not to release the former president’s records just before it deliberated on what to do with them.

The Texas Tribune

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The Independent UK

Rule delay makes big EV tax credit possible early next year

People who want to buy an electric vehicle could get a bigger-than-expected tax credit come Jan. 1 because of a delay by the Treasury Department in drawing up rules for the tax breaks

Bangkok Post

Huai Khwang posts highest price rise

Land prices in Huai Khwang in central Bangkok had the highest rises in the city according to a new assessment, says Treasury Department director-general Chamroen Phothiyod.

Ballotpedia

Sixth Circuit finds constitutional flaw in ARPA Tax Cut Ban

The Checks and Balances Letter delivers news and information from Ballotpedia’s Administrative State Project, including pivotal actions at the federal and state levels related to the separation of powers, due process, and the rule of law.

Al Jazeera

US announces sanctions against son of Zimbabwean president

The US Treasury Department has accused Emmerson Mnangagwa Jr of ties to sanctioned businessman Kudakwashe Tagwirei.

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Bangkok Post

Why does Biden want to buy Venezuelan oil again?

The fix is in. During the Thanksgiving holiday, the Biden administration announced it was quietly reversing policy and allowing limited petroleum imports from Venezuela. The Treasury Department lifted restrictions permitting a six-month deal to ease sanctions so that Chevron petroleum may buy and then ship Venezuelan crude oil to American…

Miami Herald

US sanctions more Haitians, including the relatives of people accused of corruption

A former director of Haiti’s customs administration and an “immediate” family member are being sanctioned by the U.S. State Department along with relatives of a current member of the Haitian Senate.

Al Jazeera

US sanctions China-based firms over illegal fishing abuses

US Treasury Department targets several Chinese fishing entities, accusing them of being involved in rights abuses.

The Independent UK

US sanctions companies for rights abuses in Chinese waters

The Treasury Department says it's sanctioning a group of companies and people linked to illegal fishing operations and human rights abuses in Chinese waters

Asharq Al-Awsat

US Imposes Sanctions on Turkish Businessman for Helping IRGC

The Biden administration levied sanctions on Thursday on prominent Turkish businessman Sitki Ayan and his network of firms, accusing him of acting as a facilitator for oil sales and money laundering on behalf of Iran’s Revolutionary Guard Corps (IRGC). Ayan’s companies have set up international sales contracts for Iranian oil,…

The Independent UK

On the money: Yellen's next milestone is name on US currency

Janet Yellen is set to unveil the first U.S. currency bearing her signature, marking the first time that U.S. bank notes will bear the name of a female treasury secretary

Reuters

Venezuela opposition seeks to protect billions in humanitarian funds from creditors -sources

Venezuelan opposition parties are seeking to protect billions of dollars in UN administered humanitarian funds from foreign creditors by keeping the details of their release confidential, according to five people with knowledge of the efforts.

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