When we said we’re working around the clock...
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This is wild. I’ve honestly never seen something at this scale and speed in the time I’ve covered politics. twitter.com/sahilkapur/sta…
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Treasury Department’s Tweets
52 years ago today, Martin Luther King, Jr. received the Nobel Peace Prize. Treasury will honor his legacy on the new $5 bill.
The front of the new $20 will bear the portrait of Harriet Tubman, whose life was dedicated to fighting for liberty.
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.
Like millions of #smallbusiness owners, Tula feared her business wouldn’t survive the economic downturn caused by the pandemic. A PPP loan expansion in the #AmericanRescuePlan is helping her business make it to the other side so she can continue serving her community.
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NEW: The first monthly payment of the expanded and newly-advanceable Child Tax Credit (CTC) from the American Rescue Plan will be made on July 15.
Roughly 39 million households—covering 88% of children in the US—are slated to begin receiving monthly payments automatically.
It's #ChildTaxCredit Awareness Day! Watch break down what you and your family can expect with new monthly payments of the credit starting July 15th.
Find more information at ChildTaxCredit.gov
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Today, OFAC sanctioned Alain Goetz, the African Gold Refinery in Uganda, and a network of companies involved in the illicit movement of gold valued at hundreds of millions of dollars per year from the Democratic Republic of the Congo (DRC).
Today, Treasury sanctions two individuals for malicious cyber-enabled activities. go.usa.gov/x9g3j
In partnership with our allies, Treasury has prohibited transactions with the Central Bank of Russia by U.S. persons, and imposed sanctions on key sources of Russia’s wealth.
Today, the United States sanctioned President Vladimir Putin, Foreign Minister Sergei Lavrov, and members of Russia’s Security Council. The U.S. continues to forcefully respond to Russia’s unjustified, unprovoked and premediated invasion of Ukraine.
"Workers shouldn't face higher taxes on their wages than wealthy individuals face on their rewards from capital. believes this and I agree." today speaking about tax compliance and investments in middle-class prosperity.
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New bills just dropped.
has started producing the first dollars featuring signatures of Secretary Janet Yellen and Treasurer Chief Lynn Malerba. The banknotes mark the first time that U.S. currency features the signature of a woman Treasury Secretary.
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A well-functioning tax system requires that all taxpayers pay what they owe.
An unfortunate characteristic of the current system, however, is a difference in adherence to tax law based on income level. Noncompliance is concentrated at the top of the wealth distribution.
Treasury, , & released a joint statement on decisive actions taken today to protect the U.S. economy and ensure that the U.S. banking system continues its vital role of protecting deposits.
Today, roughly $15 billion dollars start going out to families that include nearly 60 million eligible children in the first monthly payment of the increased and expanded Child Tax Credit from the American Rescue Plan passed in March.
We are excited to welcome Janet Yellen to Treasury, the 78th Secretary to lead this historic Dept. We know she will guide us to meet the challenges of our present moment & make a better economy—one built of possibilities, dignity, & the pursuit of happiness. For everyone.
We know you have many questions about #COVID19. For the latest information, rely on official sources:
For health info: faq.coronavirus.gov
For business info: Treasury.gov/cares
For tax and info: IRS.gov/coronavirus
Stay in the know and stay safe🇺🇸
The U.S. has taken significant & unprecedented action to respond to Russia’s further invasion of Ukraine by imposing severe economic costs that will have both immediate & long-term effects on the Russian economy & financial system.
Ahead of the #SummitforDemocracy, today Treasury’s OFAC designated 15 actors across 3 countries in connection with serious human rights abuse & repressive acts targeting innocent civilians, political opponents, & peaceful protestors.
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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.
If you’re looking for rental assistance, check out resource pages from and Treasury:
consumerfinance.gov/coronavirus/mo
home.treasury.gov/policy-issues/
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It is critical that state and local governments put ARP funds to work to protect families and prevent evictions. Great to join @GeneSperling46 & talk to county leaders today about their essential part in pandemic recovery. twitter.com/NACoTweets/sta…
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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.
US Treasury is pleased to provide same-day bridge financing of approximately $1.15 billion to help Sudan clear its arrears at the World Bank. This is a key milestone in Sudan’s efforts to advance debt relief and to restore economic stability.
Treasury sanctions 8 individuals involved in Venezuela’s illegitimate Constituent Assembly: treasury.gov/press-center/p
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 today after being sworn in as U.S. Treasurer by .
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Treasury targets 5 individuals involved in the Sergei Magnitsky Case and other gross violations of human rights in Russia. A total of 49 individuals have been designated under the Magnitsky Act:
--ECONOMIC IMPACT PAYMENT INFO--
As announced yesterday, some people could start seeing relief payments hit their bank accounts as early as this weekend.
Payments to eligible Americans will continue through the next several weeks on a rolling basis.
Today, OFAC designated Milorad Dodik, a member of the Presidency of Bosnia and Herzegovina, & an associated media platform in response to Dodik’s corrupt activities & continued threats to the stability & territorial integrity of Bosnia and Herzegovina.
For the first time ever, Treasury has sanctioned a virtual currency mixer. Blender.io is used by the DPRK to support malicious cyber activities & money-laundering of stolen virtual currency. home.treasury.gov/news/press-rel
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Treasury designates Iran's Islamic Revolutionary Guard under terrorism authority and four entities for WMD support: treasury.gov/press-center/p
Treasury sanctions 13 senior officials of the government of Venezuela for undermining democracy: treasury.gov/press-center/p
Today, we imposed a new round of sanctions targeting Kremlin-connected elites and businesses which operate in economic sectors that generate substantial revenue for the Russian regime.
Today, President Joe Biden announced he will appoint Lynn Malerba, Lifetime Chief of the Mohegan Tribe, to serve as Treasurer of the United States. Chief Malerba will be the first Native American to serve as U.S. Treasurer.
The new $10 will honor five heroes of the women’s suffrage movement and continue to feature Alexander Hamilton.
Today ends 's first international trip as Treasury Secretary, where she represented the US at the #G7UK Finance Ministers and Central Bank Governors Meetings.
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Nearly $600 billion of taxes went unpaid in 2019.
The number will rise to about $7 trillion over the next decade if unaddressed—roughly equal to 15% of taxes owed.
And we know that noncompliance is concentrated at the top of the wealth distribution.
Today, Treasury is targeting key middlemen, networks, and front companies that have helped Russian elites, including President Vladimir Putin, hide and move money and luxury assets around the globe.
Did you know that the American Rescue Plan is projected to cut child poverty in HALF?
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The American Rescue Plan is projected to cut the child poverty rate in half. Tune in as Secretary Yellen explains what the child tax credit is and how it helps American families.
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Treasury sanctions the President of Venezuela: treasury.gov/press-center/p
NEW: & announce the deployment of more than $8.7 billion in investments through the Emergency Capital Investment Program to increase lending to small & minority-owned businesses, and low- & moderate-income consumers in underserved communities, including rural areas
Treasury’s Office of Foreign Assets Control (OFAC) has designated four entities and two individuals in response to the growing humanitarian and human rights crisis and expanding military conflict in Ethiopia.
Read more:
We mourn the loss and celebrate the life of service & wisdom of former Treasury Secretary George Shultz. An American giant, his decades of dedicated public service shaped our country & the work of this department forever. Our Treasury family sends condolences to his family.
Today, the U.S. is sanctioning an international oil-smuggling and money laundering network used to generate revenue for Iran. Anyone purchasing oil from Iran faces the prospect of U.S. sanctions.
No one should have to miss a single dollar out of their paycheck to take time to get the COVID vaccine.
spoke w/ a small-business owner about using the #PaidLeave Credit to get reimbursed for vaccination & COVID-related time off.
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Closing the tax gap is about fairness, leveling the playing field, and creating better opportunity for long-term investment in American families.
Read the full American Families Plan’s Tax Compliance Agenda here:
“Each time we redesign our currency, we have the chance to say something about our country — what we value, and how we’ve progressed as a society.“
on the historic American Women Quarters Program home.treasury.gov/news/press-rel
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The first coin of the American Women Quarters™ Program is here—the Maya Angelou Quarter! Learn about honoree Maya Angelou and #HerQuarter in our press release at bit.ly/34pX5vl. Look for it in your change. @USTreasury @smithsonian @womenshistory @DrMayaAngelou @WCPInst
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.
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The ARP increased the max Child Tax Credit in 2021 to $3,600 for children under the age of 6 and to $3,000 per child for children between ages 6 and 17.
ARP is projected to lift more than 5 million children out of poverty this year, cutting child poverty by more than half!
Today, in our latest action to impose severe costs on Russia for its unprovoked invasion of Ukraine, the U.S. is targeting the Russian defense sector, a key financial leader, & 328 members of the Russian Duma who have enabled Putin’s war.
"It is a very big day."
on the first day of monthly payments of the Child Tax Credit to families of over 60 million kids.
"Most importantly, it provides support for families who need to be able take care of the needs of children."
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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.
Today, sanctions announced for individuals who support the Ortega regime—a regime that has undermined democracy, abused the human rights of civilians, enacted repressive laws with grave economic consequences, & tried to silence the independent news media.
The new $5 will honor historic events at the Lincoln Memorial & continue to feature President Lincoln.
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A recent study found that the top 1% failed to report 20% of their income and failed to pay nearly $175 billion in taxes owed annually.
Lower levels of compliance not only impact tax progressivity, they can lower tax revenue and deteriorate our nation’s fiscal position.
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Eligible families will receive a payment of up to $300 per month for each child under age 6, & up to $250 per month for each child age 6 and above.
Households will receive the monthly payments through direct deposit, paper check, or debit cards.
The U.S. is taking action to support the free flow of information & access to fact-based information to the Iranian people. Updated guidance authorizes tech companies to offer the Iranian people with more options of secure, outside platforms & services.
Today, Treasury is releasing the 2022 National Illicit Finance Strategy. Closing loopholes & strengthening safeguards against money laundering and terrorist financing here in the U.S. will keep the international financial system strong.
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Payments will be made on the 15th of each month, unless the 15th falls on a weekend or holiday, allowing families who receive the credit by direct deposit to plan their budgets around receipt of the benefit.
Treasury targets Chinese bank serving as gateway for
illicit N Korean financial activity, and issues sanctions: treasury.gov/press-center/p
The Paid Leave Tax Credit for small-businesses under 500 employees helps employers offer paid time off for vaccinations, quarantine, and caregiving associated with COVID-19.
Find resources about this #AmericanRescuePlan credit here: home.treasury.gov/policy-issues/
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Today, President Biden announced a new paid leave tax credit, made possible by the American Rescue Plan, to help employers offer paid time off for vaccinations. Learn more about the program here: IRS.gov/COVID
#G7 Finance Ministers and have released a statement on agreements around building a strong, sustainable, balanced and inclusive global economic recovery.
Read the full text here:
Treasury sanctions ten Venezuelan government officials associated
with undermining elections, media censorship, corruption: treasury.gov/press-center/p
In response to President Biden’s Executive Order launching an all-of-government effort to provide economic relief, Treasury will work to help households who have not yet been able to access their stimulus payments get much-needed relief. Learn more @:
“The decision to put Harriet Tubman on the new $20 was driven by thousands of responses" – Secretary Lew
Today, we announced sanctions on 16 individuals & 5 entities in response to the Lukashenka regime’s escalating violence and repression, including its reckless forced diversion of a commercial Ryanair flight & subsequent arrest of a journalist.
Read more:
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A series of proposals in the American Families Plan that overhaul tax administration and provide the resources and information it needs to address tax evasion. All told, these reforms will generate an additional $700 billion in tax revenue over the course of a decade.
Today, Treasury announced new members of staff who will serve in senior roles. These choices reflect the Biden-Harris Administration’s commitment to building a team of foremost experts with diverse backgrounds and lived experiences. go.usa.gov/xAwm8
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Find more info about the Child Tax Credit from here: irs.gov/credits-deduct
And read about Treasury's work to quickly disperse these CTC payments here:
. & are working to ultimately provide economic opportunities for millions of girls. - Sec Lew treasury.gov/press-center/p
Tune In: Chief Lynn Malerba is sworn in as U.S. Treasurer by . 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. twitter.com/i/broadcasts/1
Watch ’s speech on int’l priorities, American values, promoting rights for women & girls, equitable recovery, addressing the threat of climate change, & what it means for the US to engage on the world stage at this critical moment in history.
At a special Independence Day event at George Washington’s historic home , spoke about the possibility & promise of America, welcoming new citizens in a naturalization ceremony. #4thOfJuly
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Continuing the Administration’s whole-of-government effort to counter ransomware, today Treasury announced a set of actions focused on disrupting criminal ransomware actors and virtual currency exchanges that launder the proceeds of ransomware.
This week, attended the Annual Meetings of & as well as G7 & G20 Meetings of Finance Ministers & Central Bank Governors. Economic resilience, equitable recovery, global health, climate change, & other critical issues were central to the discussions.
The next batch of Economic Impact Payments will be issued to taxpayers this week, with many of these coming by paper check or prepaid debit card.
More info, including links to the FAQs, here:
We’re working hard to help relieve suffering happening across the economy right now. Part of that is getting direct payments out as soon as this weekend.
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In an exclusive interview, Secretary Janet Yellen tells @SavannahGuthrie that Americans will begin seeing the direct payments from the Covid-19 relief bill show up in their bank accounts “this weekend.”
Secy Lew will choose a woman who was a champion for democracy in the U.S. on the redesigned $10 note. #TheNew10 go.usa.gov/3mvrA
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Left unaddressed, this tax gap will total about $7 trillion over the course of the next decade.
This massive gap in revenue means policymakers must choose between higher taxes elsewhere in the tax system, lower spending on fiscal priorities, or rising budget deficits.
Today, the U.S. took major steps to escalate sanctions and degrade the economy of the Russian Federation in response to Russia’s continued brutal war against Ukraine and atrocities against Ukrainian citizens.
The new printing of U.S. dollars will feature the signature of Treasurer Chief Lynn Malerba in addition to Secretary Yellen’s signature. Chief Malerba is lifetime chief of the Mohegan Tribe, and notably the first Native woman to have her signature on U.S. currency.
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The U.S. is imposing immediate economic costs in response to actions in the Donetsk and Luhansk Regions, including sanctioning major Russian state-owned financial institutions, Kremlin-connected elites, & additional restrictions on Russian sovereign debt.
U.S. and Saudi Arabia sign historic agreement to establish new Terrorist Financing Targeting Center treasury.gov/press-center/p
Statement from Secretary of the Treasury Steven Mnuchin on President Trump’s #AmericasBudget Proposal: treasury.gov/press-center/p
“We can cooperate in ways that make us more competitive in the global economy. We can solve problems together that we could not solve alone.”
Find ’s G20 statement on our website: home.treasury.gov/news/press-rel
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My statement at the conclusion of the G20 Finance Ministers and Central Bank Governors Meetings:
Looking back on her life, Tubman once said, “I would fight for liberty so long as my strength lasted.”
Happy Fourth of July from the U.S. Department of the Treasury!
The American Rescue Plan will pave the path towards a growing economy to meet us on the other side of the pandemic. This action will get direct crisis relief to American families, workers, and businesses.
At Treasury, we will do everything we can to accelerate this recovery.
Treasury’s OFAC joined US and international partners in Dublin today to announce coordinated actions against the Kinahan Organized Crime Group (KOCG), a transnational crime organization.
home.treasury.gov/news/press-rel
The new $10 will honor Alice Paul, Elizabeth Cady Stanton, Susan B. Anthony, Sojourner Truth and Lucretia Mott.
Today, in conjunction with EU sanctions, OFAC sanctioned six Nicaraguan officials ahead of Ortega-Murillo sham inauguration.
Read more:
Today, 40 days after Mahsa Amini's arrest & death in the custody of Iran's Morality Police, Treasury designated several Iranian officials & entities for involvement in the ongoing brutal crackdown on nationwide protests & efforts to disrupt digital freedom.
Today, one year after the Russian Federation launched its unprovoked war against Ukraine, the U.S. is taking significant action to diminish Russia’s ability to continue its brutal war and to procure the resources used to support it.