Treasury Secretary Steven Mnuchin and Rep. Nancy Pelosi, D-Calif., have entered into an agreement to introduce a short-term spending bill to prevent a government shutdown at the start of fiscal year 2021. Mnuchin said that he and the House speaker agreed to work on a continuing resolution to extend the US government’s spending beyond Sept. 30.Read More »
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The U.S. Small Business Administration (SBA), in consultation with the Department of the Treasury (DoT), has released detailed loan-level data in regards to the loans made under the Paycheck Protection Program (PPP), the administration reported on Monday. This disclosure covers each of the 4.9 million PPP loans that have been made.Read More »
Steven Mnuchin, a 17-year veteran of investment bank Goldman Sachs, has been sworn in as head of the Treasury Department after the Senate confirmed him Monday through a 53-47 vote, Reuters reported Monday. David Lawder writes Mnuchin will oversee tax reform, financial de-regulation and economic diplomacy efforts as the Treasury secretary. He will manage a tax reform …Read More »
President-elect Donald Trump plans to nominate Steven Mnuchin as treasury secretary, Wilbur Ross as commerce secretary and Todd Ricketts as deputy commerce secretary. Mnuchin, Ross and Ricketts will help implement Trump’s America First economic plan that aims to create more than 25 million jobs over the next 10 years, according to a press …Read More »
Treasury Secretary Steven Mnuchin and Mick Mulvaney, director of the Office of Management and Budget, have issued a joint statement saying the federal budget deficit reached $779B in fiscal 2018, about $113B higher than the shortfall recorded in the previous fiscal year. The FY 2018 deficit was equivalent to 3.9 percent of the U.S. gross domestic product and $70B less than the projected shortfall in the Mid-Session Review for FY 2019, according to the statement published Monday.Read More »
The Treasury Department has released interim regulations for a pilot program to assess foreign acquisitions of critical U.S. technologies and intellectual property in compliance with the Foreign Investment Risk Review Modernization Act of 2018. “These temporary regulations address specific risks to U.S. critical technology while informing the development of final regulations that will fully implement FIRRMA,” Treasury Secretary Steven Mnuchin said in a statement published Wednesday.
The House has voted 359-57 to pass a continuing resolution in a push to prevent a government shutdown at the start of the next fiscal year in October. The stopgap bill extends federal agencies’ funding through Dec. 11th and covers provisions related to continuing COVID-19 response programs including food-stamp initiatives and childcare efforts.Read More »