Today, Treasury announced 4 new Capital Projects Fund awards to AL, KY, NV, & TX to increase access to affordable, high-speed internet. With 30 state awards and counting, over 1M locations will be connected as a result of this American Rescue Plan funding.
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Treasury Department’s Tweets
Yesterday joined a roundtable on opportunities to advance economic & racial equity and expand access to capital for underserved Americans alongside reps from , 6 fed agencies, & 20+ orgs from the private & philanthropic sectors.
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Today’s GDP report, which shows our economy growing at a 2.9 percent annual rate in in the 4th quarter of 2022, demonstrates our economic transition from a historically rapid recovery to steady growth as we maintain a strong labor market and inflation falls.
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Glad to join the ’s roundtable this week focusing on achieving the Administration’s goal of expanding access to capital for small businesses, and ’s historic investment to strengthen Community Development Financial Institutions.
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Today’s sanctions against Paraguay’s former President Cartes and current Vice-President Velazquez highlight the pressing need for the Government of Paraguay to act in the best interest of its citizens, not line the pockets of its political elites.
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Today, the U.S. is designating numerous entities and individuals that support the Russian proxy Wagner Group’s military operations and ongoing pattern of brutal violence, human rights abuses, and serious criminal activity in countries across the world.
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Treasury will continue our efforts to choke off Putin’s access to resources for his brutal war and curb Russia's wealth-extraction tactics and human rights abuses in Africa, Asia, Ukraine, and across the world.
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The Wagner Group is a Russian private military company involved in Kremlin-backed combat operations around the world, including Ukraine. Wagner has also contributed to destabilization in countries in Africa, committing widespread human rights abuses & extorting natural resources.
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The U.S. is taking additional actions to degrade Russia's capacity to wage war against Ukraine by sanctioning a number of individuals and entities in Russia’s military complex and designating the Wagner Group as a transnational criminal organization.
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Earlier this week, Treasury announced $690 million in reallocated funds under the Emergency Rental Assistance Program to assist renters facing financial hardship.
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Today, Treasury announced that 89 state and local grantees have been awarded $690 million in reallocated funds to assist renters facing financial hardship and help keep families in their homes.
home.treasury.gov/news/press-rel
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The Biden Administration continues to take actions to support renters, promote fairness in the rental market, and keep families in their homes.
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I leave Lusaka heartened by Zambia’s economic reforms and productive discussions I've had with counterparts and business leaders on global challenges we face together: food security, climate change, economic stability. I am grateful for ongoing partnership between our countries.
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Today, Treasury announced that 89 state and local grantees have been awarded $690 million in reallocated funds to assist renters facing financial hardship and help keep families in their homes.
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This tax season, the is utilizing Inflation Reduction Act funding to start modernizing and improving the taxpayer experience.
⬇️ Read below about improvements in customer service, filing processes, and more you can expect this tax season.
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Today marks the beginning of tax filing season and thanks to @POTUS, the Inflation Reduction Act is providing additional funding to modernize the IRS—to hire the staff and build the systems needed to give Americans the service they deserve. home.treasury.gov/news/featured-
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#IRS has kicked off the 2023 tax filing season. This year, the tax deadline is April 18, 2023 for most people. Gather all information you need to prepare a complete and accurate tax return before you file to reduce errors. See: ow.ly/9w4550Mybhz
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I leave Dakar for Lusaka, Zambia today, grateful for the hospitality I have been shown in Senegal, for the chance to see economic and energy innovations here, and for the opportunity over the past days to discuss how the U.S. can further strengthen our partnership with Senegal.
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The U.S. economy is resilient and well-positioned to weather global headwinds over the coming year. In year three of the Biden-Harris Administration, Treasury will continue to promote stable growth and make investments in the future security and prosperity of the United States.
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Revitalizing American manufacturing makes our economy stronger and more secure. The Biden economic agenda has helped create nearly 750K new manufacturing jobs across the country, many in communities that have suffered from underinvestment for decades.
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Americans have applied to start new businesses at a historic rate over the past two years, over 10.5M new businesses. Treasury programs like the $10B State Small Business Credit Initiative continue to support states as they provide resources and capital to new businesses.
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American Rescue Plan programs, like Treasury's Emergency Rental Assistance Program, have helped prevent an eviction crisis during the pandemic. For instance, over 1,000 active ERA programs have made more than 8M payments to help renters stay in their homes.
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The Administration has passed measures to help families with persistent costs of living. Thanks to the Inflation Reduction Act, millions of Americans will save on their energy, health-insurance and prescription-drug costs.
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Inflation in the U.S. continues to show signs of easing, bringing prices down for American households. Lower energy prices and improvements in supply chains have been large influences. As of this month, headline inflation has shown declines for 6 consecutive months.
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The unemployment rate fell to a 50-year low at the end of 2022. The unemployment rate is at the lowest rate on record for people with disabilities, and near record lows for African-American and Hispanic workers.
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The economy has rapidly recovered and created jobs, enough to offset the number of jobs lost during the pandemic downturn, and it did so faster than in the aftermath of the last three major economic downturns. 10M+ jobs have been created since January 2021.
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In two years of the Biden-Harris Administration, the Treasury Department made significant strides in implementing 's economic agenda.
Here's a look at just some of the ways the economy is working for the American people:
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Today I begin my visit to Senegal, Zambia, and South Africa. After productive discussions last month at the U.S.-Africa Leaders Summit, these visits will provide more opportunities to follow through with leaders and promote a stronger and more resilient economy across Africa.
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In the second year of the Biden-Harris Administration, we made significant investments in our nation’s economic resilience, lowered costs for U.S. families, and addressed unanticipated global threats. We enter year three with an economy on track for stable and sustainable growth.
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Today as part of international action against the virtual currency exchange Bitzlato, Treasury’s Financial Crimes Enforcement Network has declared it a “primary money laundering concern” to expose and disrupt Russian cybercriminals and their enablers.
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Today I met with Vice Premier Liu He of the People’s Republic of China, our first in-person meeting. We exchanged views on macroeconomic developments and global financial issues in our efforts to deepen communication between the U.S. and China.
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Money services businesses (MSBs) can be a critical lifeline for our country’s vibrant diaspora communities to support their families, businesses, and humanitarian operations. Yet, many financial institutions can’t or won’t bank these businesses due to what’s called “de-risking.”
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Founding Father Alexander Hamilton was born #OTD in 1755 in the British West Indies.
Learn more about Hamilton, the first Secretary of , with this #NEHgrant-funded film. bit.ly/3VMJL9j
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Canada is a key ally and one of our closest economic partners. I was pleased to welcome to Treasury today to discuss deepening economic ties, while and further our bilateral relationship at the North American Leaders Summit today in Mexico City.
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In close coordination and collaboration with Turkish partners, we took action to disrupt ISIS financing today. Joint designations and asset-freezes target ISIS activity in the region and reaffirm ’s commitment to degrade their global operations. home.treasury.gov/news/press-rel
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The general licenses released today reflect our commitment to ensuring humanitarian assistance and related trade continues to reach at-risk populations through legitimate and transparent channels, while maintaining the effective use of targeted sanctions.
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At the #AfricaLeadersSummit, & met with representatives from countries across Africa to discuss priorities like investing in high-quality infrastructure, addressing food insecurity, & deepening econ partnerships.
Read more at home.treasury.gov/news
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On the last day of the #AfricaLeadersSummit, met with Presidents of Zambia, Malawi, and Senegal and discussed sustainable infrastructure, development challenges, economic potential, & how we can continue to strengthen partnerships between African countries and the U.S.
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In an essay for , I detail the U.S. and coalition strategy to implement an historic sanctions regime and oil price cap on Russia to limit its revenue and degrade its military in response to their brutal and illegal war on Ukraine.
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This week for , and spoke about U.S. military and economic aid to Ukraine, Treasury's sanctions, and why ending Russia's war is important for the global economy.
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Corrupt actors and human rights abusers both rely on deficiencies in the international financial system to perpetrate their activities. At , combatting corruption and serious human rights abuse is a top priority. #HumanRightsDay2022 #IACD
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