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Today, Treasury published three reports on “Ensuring Responsible Development of Digital Assets”. The reports address the future of money and payment systems, consumer and investor protection, and illicit finance risks.…
The Inflation Reduction Act provides critical funding for the IRS to improve the taxpayer experience this next tax season, and support a stronger and fairer economy. @SecYellen addresses these improvements at the New Carrolton IRS facility today.…
In a coordinated action across the U.S. Government, OFAC designated a dozen Iran-based persons for their roles in malicious cyber acts, including ransomware activity. The U.S., Australia, Canada & the UK are also publishing a joint cyber security advisory.…
The Inflation Reduction Act is a cornerstone of the Biden economic agenda that makes good on the promises of building an economy that works for all Americans. As I said last week in Detroit, this agenda will make our economy more productive, more resilient, and fairer.
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For the first time in U.S. history, the signatures of a Native woman and a female Secretary of the Treasury will soon be seen on the nation’s currency. Chief Lynn Malerba participated in a ceremonial signing with @BEPgov today after being sworn in as U.S. Treasurer by @SecYellen.
Read the remarks given by Chief Malerba after she was sworn in as U.S. Treasurer:…
Treasurer Malerba will also oversee the newly established Office of Tribal and Native Affairs that houses staff directly dedicated to communication with Tribal nations and is the hub for Tribal policy at the Treasury Department.
The U.S. Treasurer directly oversees the U.S. Mint, the Bureau of Engraving and Printing, Fort Knox, and is a key liaison with the Federal Reserve. Chief Malerba will serve as a senior advisor to the Secretary in the areas of community development and public engagement.
Chief Lynn Malerba was sworn in today as U.S. Treasurer, the first Native American person to serve in the role. Malerba is the first female Chief in the Mohegan Tribe’s modern history, a leader in public health administration, & formerly a Treasury Tribal Advisory Council member.
Tune In: Chief Lynn Malerba is sworn in as U.S. Treasurer by @SecYellen. Malerba is a leader in public health and public administration. She is the first Native American person to serve as Treasurer, and is the 18th Chief of the Mohegan Tribe.…
Today in Detroit, Michigan @SecYellen speaks on the Biden Administration's economic plan that is making generational investments in the strength of America's economy, making it more productive, more resilient, and fairer for workers and businesses.…
The price cap on Russian oil offers the opportunity to accomplish dual goals—continue to reduce Russia’s revenues and impede their ability to fund their illegal war in Ukraine, and stabilize energy prices in the U.S. and across the globe.
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Russia’s economy is in a great deal of pain due to sanctions by the U.S. and our partners. The Kremlin is being forced to make tough decisions on propping up their economy or continuing to fund their unjustifiable war in Ukraine. We will continue to make that choice harder.
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By committing to finalize and implement a price cap on Russian oil, today the G7 took a critical step forward in achieving our dual goals of putting downward pressure on global energy prices while denying Putin revenue to fund his brutal war in Ukraine.…
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I was pleased to meet with Chancellor Zahawi @nadhimzahawi today to discuss shared priorities, including a price cap on Russian oil to deny Putin revenue to fund his brutal war and put downward pressure on energy prices for consumers and businesses in the U.S., UK, and globally.
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The newest designs of the American Women Quarters Program were just unveiled by @usmint. These coins celebrate the contributions of remarkable American women: Bessie Coleman, Jovita Idar, Edith Kanaka’ole, Eleanor Roosevelt, & Maria Tallchief.…
Internet providers covering more than 80% of the U.S. population currently offer Affordable Connectivity Program plans. Find more information about getting reliable, affordable, high-speed internet service for your family at
Treasury designed its guidance to prioritize connecting families and business lacking adequate service—particularly those in rural and remote areas— & requires states to have service providers participate in the new Affordable Connectivity Program.
The Capital Projects Fund—an ARP program managed by Treasury—is providing $10B to fund critical capital projects across the country. A key focus of the program is furthering @POTUS's goal for every American to have access to reliable, affordable high-speed internet.
Connecticut, Indiana, Nebraska, North Dakota, and Arkansas were just approved to receive about $408M in #AmericanRescuePlan funds and will connect 90,000+ homes and businesses to affordable, high-speed internet.…
Gross Domestic Income (GDI) remains an important measure to consider when assessing the state of our economy. The solid recent GDI gains in Q2 of 2022, together with a strong labor market, convincingly indicate stable economic expansion in the U.S.…
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The wait is over! We are pleased to announce the designs for the 2023 coins in the American Women Quarters™ Program, honoring the achievements of Bessie Coleman, Edith Kanaka’ole, Eleanor Roosevelt, Jovita Idar, and Maria Tallchief: #HerQuarter
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We are pleased to partner with Israel in the global effort to stop ransomware. This new cooperation has already resulted in the sharing of real-time cyber threat data to prevent attacks from impacting the U.S. financial sector.…
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IRS public servants work professionally and diligently every day on behalf of the American people. We take threats seriously and their safety is a top priority.…
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I am traveling to India this week because deepening the partnership between our two countries is critical to advancing our core economic interests, including strengthening supply chains and bolstering trade and investment flows.…
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Assistant Secretary Rosen and CFIUS officials were pleased to engage with Philippine partners on protecting national security in the context of foreign investment, while keeping markets open for growth and economic development.
I had a great trip to Brazil with productive discussions around illicit finance, environmental crimes, and the global effects of Russia’s war against Ukraine. Read about my visit here:…
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President Biden’s American Rescue Plan reauthorized & expanded the State Small Business Credit Initiative, & provides nearly $10B to states to increase capital access & promote entrepreneurship, especially in traditionally underserved communities as they emerge from the pandemic.
From @RepBonamici: “This significant investment is an exciting opportunity for Oregon’s small businesses and the hard-working, entrepreneurial Oregonians who run them”
From @SenJeffMerkley: “This important access to capital will help jumpstart new and growing small businesses in Oregon by ensuring business opportunities are accessible and encouraging entrepreneurs old and new to build out their small businesses.”
From @RonWyden: “These historic American Rescue Plan investments will go far in tearing down obstacles to growth and support more entrepreneurs and small businesses in every nook and cranny of our state.”
From @OregonGovBrown: “Oregon’s SSBCI funds will make meaningful impacts for our small business community for generations to come and help to further our work to build a safe, strong, just, and equitable Oregon for all.”
From @SenGillibrand: “This funding will provide critical resources and increase access to capital for our state’s small business owners. Fighting for New York’s small businesses means fighting for a bright future and economic prosperity in our state.”
From @SenSchumer: “This federal assistance will help support underserved businesses, invest in entrepreneurs and small businesses in key industries like manufacturing and clean energy to address the nation’s supply chain challenges, and create good-paying jobs.”
From @GovKathyHochul: “This historic funding will be a game changer – serving as a crucial lifeline for small businesses, fueling innovative growth, and helping uplift the most vulnerable communities across New York State."
From @SenatorTester: “Small businesses are the backbone of Montana’s economy, creating good paying jobs and strengthening our communities from our most rural areas to our cities. I’m proud to have secured these critical investments through the American Rescue Plan.”
From @SenatorHick: “Small businesses are still struggling with rising costs, the lingering effects of the pandemic, and labor shortages. This partnership between the federal government and states will help new and existing businesses grow and thrive.”
From @SenatorBennet: "We passed the American Rescue Plan last year to support small businesses across Colorado and strengthen the communities they call home… I’m pleased to welcome these funds to Colorado to help local companies retain their employees and create new jobs"
From @GovofCO: “Colorado is proud to be one of the recipients of these exciting federal grants, which will help create and retain over 11,000 good-paying jobs for Coloradans"
These four states plan to target key industries and small businesses in need of access to capital, including support for underserved businesses seeking contracting opportunities, which aligns with the Bipartisan Infrastructure Law’s focus on advancing equity and economic access.
Today Treasury announced that Colorado, Oregon, New York, and Montana have been approved for up to $750 million in funding from the American Rescue Plan to support investments in small business across their states.…
Through their corruption, these Liberian officials have undermined democracy for their own personal benefit. These designations show that the U.S. remains committed to holding corrupt actors accountable & to the continued support of the Liberian people.…
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Today is an historic day for our country and our economy. The Inflation Reduction Act of 2022 will make America more competitive, lower health and energy costs for families, reduce the budget deficit, and increase long-term economic growth.
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Headline CPI was 0% in July, well below elevated June monthly rate of 1.3% and the lowest reading since May 2020. These are good signs on the path to lower inflation.
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Today, Treasury sanctioned virtual currency mixer Tornado Cash, which has been used to launder more than $7 billion worth of virtual currency since its creation in 2019. Virtual currency mixers that assist criminals are a threat to U.S. national security.…
Read @SecYellen's letter to Congress on the Inflation Reduction Act.…
This follows @SecYellen's letter to Congress underlining that Americans making less than $400,000 won’t see their taxes go up by a cent. Resources from asking big corporations & the wealthy to pay their fair share will fund investment in energy & climate, & reduce health costs.
Secretaries Lew, Geithner, Paulson, Summers, and Rubin also highlighted how this legislation will boost global competitiveness, address our climate crisis, lower costs for families, and fight inflation.…
Five former Treasury secretaries from both Democratic and Republican Administrations signed a statement in support of the Inflation Reduction Act and reaffirmed that this bill will not increase taxes on families making less than $400,000 per year.…
Glad to participate in today’s White House Summit on Eviction Prevention alongside @GeneSperling46, @SenSherrodBrown, leading housing advocates & local officials to highlight the importance of @USTreasury’s Emergency Rental Assistance – a key part of the American Rescue Plan.
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