• coronavirus May 19

    Sen. Warren, Mnuchin Spar Over Bailout Job Rules

    Sen. Elizabeth Warren, D-Mass., spars with Treasury Secretary Steve Mnuchin over the rules for companies taking money through the CARES Act and how they are held accountable for maintaining jobs.

  • Donald Trump Oct 25, 2019

    US Budget Deficit Hits $984 Billion, Highest in 7 Years

    The federal deficit for the 2019 budget year surged to $984.4 billion, its highest point in seven years, and is widely expected to top the $1 trillion mark in coming years. The 26% surge from the 2018 deficit of $779 billion that the government reported Friday reflected such factors as revenue lost from the 2017 Trump tax cut and a...

  • Donald Trump Jul 2, 2019

    House Committee Files Lawsuit Over Trump Tax Returns

    A House committee sued the Trump administration in federal court Tuesday for access to President Donald Trump’s tax returns, setting up a legal showdown over the records. The House Ways and Means Committee said it needs the documents for an investigation into tax law compliance by the president, among other things. It asked the court to order the administration to...

  • Donald Trump Jun 8, 2019

    US Hits Iran With New Sanctions; Petrochemicals Targeted

    The Trump administration on Friday hit Iran with new sanctions that target its largest petrochemical company for providing support to the Revolutionary Guard Corps. The Treasury Department imposed sanctions on the Persian Gulf Petrochemical Industries Company and 39 of its subsidiaries and foreign sales agents. It said the company holds 40% of Iran’s petrochemical production capacity and is responsible for...

  • Donald Trump May 17, 2019

    Trump Administration Rejects Subpoena for Tax Returns

    The Trump administration on Friday missed another deadline to produce President Donald Trump’s tax returns. A top House Democrat said he expects to take the administration to court as early as next week over the matter. Treasury Secretary Steven Mnuchin said in a letter that he will not comply with a subpoena from House Ways and Means Committee Chairman Richard...

  • Donald Trump May 8, 2019

    Trump Lost More Than $1 Billion From 1985 to 1994, New York Times Reports

    President Donald Trump on Wednesday acknowledged taking massive tax write offs for real estate losses topping $1 billion from the mid-1980s to mid-1990s, calling it “sport” among developers like himself during that period. Trump was reacting to a New York Times report Tuesday that his businesses lost more than $1 billion from 1985 to 1994. The newspaper said its reporting...

  • Donald Trump May 7, 2019

    Treasury Denies Democrats' Request for Trump Tax Returns

    Treasury Secretary Steven Mnuchin has made it official: The administration won’t be turning President Donald Trump’s tax returns over to the Democratic-controlled House. Mnuchin told Ways and Means Committee Chairman Richard Neal, D-Mass., in a Monday letter that the panel’s request “lacks a legitimate legislative purpose” as Supreme Court precedent requires. In making that determination, Mnuchin said he relied on...

  • Donald Trump Apr 23, 2019

    Medicare, Social Security Face Shaky Fiscal Futures

    The financial condition of the government’s bedrock retirement programs for middle- and working-class Americans remains shaky, with Medicare pointed toward insolvency by 2026, according to a report Monday by the government’s overseers of Medicare and Social Security. It paints a sobering picture of the programs, though it’s relatively unchanged from last year’s update. Social Security would become insolvent in 2035,...

  • Donald Trump Jan 10, 2019

    House Democrats Now Asking Questions About Treasury Secretary Steven Mnuchin

    Treasury Secretary Steven Mnuchin has agreed to deliver a classified briefing to U.S. House lawmakers on Thursday on his recent decision to lift sanctions on companies linked to a Russian oligarch and Vladimir Putin ally, marking the start of an aggressive new focus on Mnuchin by newly empowered House Democrats, according to two top Democratic aides. Read More

  • Donald Trump Dec 25, 2018

    Japan Stocks Plunge, Other Asia Markets Fall After US Losses

    Japanese stocks plunged Tuesday and other Asian markets declined following heavy Wall Street losses triggered by President Donald Trump’s attack on the U.S. central bank. Markets have been roiled by concerns about a slowing global economy, the trade dispute with China and another interest rate increase by the Fed. Trump’s Monday morning tweet heightened fears about the economy being destabilized...

  • NBC Dec 19, 2018

    U.S. Imposes New Russia-Related Sanctions, Citing Election Interference, ‘Other Malign Activities'

    The United States imposed fresh Russia-related sanctions on Wednesday and said it intended to lift sanctions against Rusal Plc, EN+ and ESE, according to the Treasury Department. As NBC News reported, the three companies had agreed to restructuring changes including reducing Russian tycoon Oleg Deripaska’s stake. The Treasury added 18 individuals and four entities to the sanctions list, including the...

  • Donald Trump Aug 1, 2018

    Fed Keeps Key Rate Unchanged While Signaling Future Hikes

    The Federal Reserve on Wednesday left its benchmark interest rate unchanged while signaling further gradual rate hikes in the months ahead as long as the economy stays healthy. The Fed’s widely expected decision left the central bank’s key short-term rate at 1.75 percent to 2 percent — the level hit in June when the Fed boosted the rate for a...

  • Internal Revenue Service Jun 29, 2018

    Treasury, IRS Reveal Postcard-Size 1040 Tax Form for 2019

    Individual taxpayers will be able to use a postcard-sized form to file their returns for the 2019 tax season, CNBC reported. The form will replace the current 1040, 1040A and 1040 EZ forms, according to the Treasury Department. “The new, postcard-size Form1040 is designed to simplify and expedite filing tax returns, providing much-needed relief to hardworking taxpayers,” Treasury Secretary Steven...

  • Europe Jun 11, 2018

    US Hits Russian Firms With Sanctions, Citing Cyberattacks

    The Trump administration on Monday slapped sanctions on several Russian companies and businessmen for engaging in cyberattacks and assisting Russia’s military and intelligence services with other malicious activities. The Treasury Department said it was imposing sanctions on five Russian firms and three of their executives under legislation passed last year and an executive order aimed at punishing efforts to hack...

  • United States Mar 19, 2018

    Mnuchin Says ‘Dollar Is Not a Concern of Mine,' Supports Free Trading

    Treasury Secretary Steven Mnuchin’s comment Wednesday suggesting that the U.S. could benefit from a weak greenback sent the dollar plummeting to its lowest level since December 2014. Thursday morning he told reporters in Davos that he spends little time thinking about the weakness of the dollar over the short term and that the administration is not concerned. The dollar index,...

  • Donald Trump Mar 13, 2018

    Previously Withheld UCLA Video Shows Heckling of Steve Mnuchin

    A previously withheld video has been released showing the near-constant heckling of Treasury Secretary Steve Mnuchin during a moderated talk about the economy at UCLA.

  • Donald Trump Mar 11, 2018

    Mnuchin Brushes Off Trump's Vulgarity Used at Pa. Rally

    Treasury Secretary Steven Mnuchin said Sunday that President Donald Trump using vulgar language Saturday at a Pennsylvania event is a “campaign rally issue.” Earlier on Saturday night, Trump hit the campaign trail for Republican House candidate Rick Saccone and spoke at a rally in Moon, Pennsylvania. In the long, apparently off-the-cuff address, the president widely attacked the media while telling...

  • Europe Jan 12, 2018

    Smallest National Park? Kosciuszko, Forgotten Son of Liberty

    If the hip-hop Broadway smash “Hamilton” can reignite interest in the first U.S. treasury secretary, what will it take to drum up interest in another forgotten hero from America’s fight for independence? That question has stumped National Park Service employees who oversee the Thaddeus Kosciuszko National Memorial. It’s the smallest and one of the least-visited sites in the system, despite...

  • NBCUniversal Inc. Jan 12, 2018

    Sec. Mnuchin Introduces New IRS Tax Withholding Tables

    Treasury Secretary Steve Mnuchin introduced new tax withholding guidelines from the IRS during a press conference at the White House on Jan. 11, 2018.

  • White House Jan 12, 2018

    IRS Rolls Out New Income Tax Withholding Guidelines

    Taking the first concrete step toward the Republican tax plan’s promise of fatter paychecks for millions, the Trump administration on Thursday issued new guidelines for how much employers should withhold as taxes from workers’ pay. The Internal Revenue Service published the new income-tax withholding tables to conform to the sweeping $1.5 trillion tax overhaul, the first major rewrite of the...

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