WASHINGTON — Today, the Internal Revenue Service, the U.S. Department of the Treasury, and the Bureau of the Fiscal Service announced they are disbursing more than 1.1 million payments in the eighth batch of Economic Impact Payments from the American Rescue Plan. Today’s announcement brings the total disbursed so far to approximately 164 million payments, […]
Category Archives: U.S. Treasury
Statement by Charles Moravec, Temporary Alternate Governor for the United States 2021 Virtual Annual Meeting, Business Session
On behalf of Secretary Yellen and Acting U.S. Governor Baukol, I am pleased to represent the United States of America at the virtual 54th Annual Meeting of the Asian Development Bank (ADB). The past year was tremendously challenging for ADB and the Asia Pacific region – arguably the most demanding year that ADB has ever […]
Economy Statement by Catherine Wolfram, Acting Assistant Secretary for Economy Policy, for the Treasury Borrowing Advisory Committee
WASHINGTON – Last week, the Bureau of Economic Analysis confirmed that the U.S. economy has now expanded for three consecutive quarters, after the pandemic caused GDP to plummet 19.2 percent at an annual rate in the first half of 2020. In the first quarter of 2021, economic growth was bolstered by two additional rounds of […]
Report on Foreign Portfolio Holdings of U.S. Securities at End-June 2020
WASHINGTON – The final results from the annual survey of foreign portfolio holdings of U.S. securities at the end of June 2020 were released today on the Treasury website at https://home.treasury.gov/data/treasury-international-capital-tic-system/us-liabilities-to-foreigners-from-holdings-of-us-securities. The survey was undertaken jointly by Treasury, the Federal Reserve Bank of New York, and the Board of Governors of the Federal Reserve System. […]
READOUT: Deputy Secretary of the Treasury Wally Adeyemo’s Roundtable Discussion with Human Rights and Anti-Corruption NGOs
Today, Deputy Secretary of the Treasury Wally Adeyemo met virtually with over two dozen NGOs focused on human rights and anti-corruption as part of the Treasury-led review of U.S. economic and financial sanctions. Deputy Secretary Adeyemo thanked the organizations for their interest in and support of the Global Magnitsky (GloMag) sanctions program that represents the […]
READOUT: Deputy Secretary of the Treasury Wally Adeyemo’s Discussion on Paid Leave with Pacific Northwest Small Business Owner and Employee
Today, Deputy Secretary Wally Adeyemo met virtually with Tiffany Turner, co-owner of Adrift Hospitality, a group of boutique hotels in Washington and Oregon, and Luz Alcantar, an Adrift Hotel Property Manager, to discuss the American Rescue Plan’s paid leave benefits. The discussion was facilitated by the Main Street Alliance. Deputy Secretary Adeyemo asked about the […]
READOUT: Secretary of the Treasury Janet L. Yellen’s Call with Nadia Calviño, Spanish Second Deputy Prime Minister and Minister for Economy and Digitalization
WASHINGTON – Earlier today, Secretary of the Treasury Janet L. Yellen spoke with Spanish Second Deputy Prime Minister and Minister for Economy and Digitalization Nadia Calviño. Secretary Yellen conveyed her intention to deepen cooperation with Spain to address key regional and global challenges, including supporting a strong recovery from the COVID-19 pandemic, and shared priorities […]
Remarks by Acting Under Secretary of International Affairs at the U.S. Department of the Treasury, Andy Baukol, at the Center for Strategic and International Studies
Thank you to CSIS and the Gates Foundation for hosting me and our distinguished panelists today. It’s a particular honor for me to address this esteemed panel. The Commission’s new report puts a proper frame on the challenges we face as policymakers at this juncture of the recovery. Just a few weeks ago, finance ministers […]
Investing in the IRS and Improving Tax Compliance
A well-functioning tax system requires that all taxpayers pay what they owe. An unfortunate characteristic of the current system, however, is an asymmetric adherence to tax law by the nature of income received. While roughly 99% of the taxes due on wages are remitted to the Internal Revenue Service, compliance across other forms of income […]
Nearly 2 million more Economic Impact Payments disbursed under the American Rescue Plan; continuing payments reach approximately 163 million
WASHINGTON — Today, the U.S. Department of the Treasury, the Internal Revenue Service, and the Bureau of the Fiscal Service announced they are disbursing nearly 2 million payments in the seventh batch of Economic Impact Payments from the American Rescue Plan. Today’s announcement brings the total disbursed so far to approximately 163 million payments, with […]