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 »
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 »
House Speaker Nancy Pelosi (D-Calif.) said she hopes the lower chamber can pass a deal to raise the debt ceiling and set spending levels by July 26, CNBC reported Wednesday. Pelosi said she expects the White House and the chamber to agree on a measure by Friday, July 19 to allow lawmakers to work on the legislative text over the weekend.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.