Tag Archives: Treasury Department

Biden Selects Janet Yellen, Neera Tanden for Treasury, OMB Leadership Roles


President-elect Joe Biden has selected Janet Yellen, former chair of the Federal Reserve, to be secretary of the Treasury and Neera Tanden, president and CEO of the Center for American Progress, to serve as director at the Office of Management and Budget (OMB). Yellen and Tanden are among the six nominees and appointees for the incoming administration's key economic positions.

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CBO: Pandemic Pushes US Budget Deficit to $3T in Fiscal 2020

Federal Budget

The federal budget deficit for the 2020 fiscal year ended on Sept. 30th reached $3.1 trillion, more than three times higher than the prior-year period’s shortfall, according to a new Congressional Budget Office (CBO) report. According to CBO, receipts from payroll taxes, the second largest source of revenues, saw a five percent increase. 

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Dept. of Treasury Seeks Feedback on Planned Updates to Terrorism Insurance Program

Dept. of Treasury

The Department of the Treasury plans to update technical aspects of the Terrorism Risk Insurance Program in line with legislation aimed at addressing terrorism-related disruptions and stabilizing the private market following terrorist attacks. The Treasury said in a Federal Register document that the TRIP comes as part of efforts to comply with the TRIP Reauthorization Act of 2019.

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Treasury Dept Inspector General Office Adds COVID-19 Responsibilities to List of Challenges

Treasury Department

The Department of the Treasury's Office of the Inspector General  has identified COVID-19 as a new challenge affecting the organization's interests as the calendar shifts to 2021. A report stated that COVID-19 has challenged the Treasury in terms of remote working and added responsibilities, said Richard Delmar, deputy inspector general at OIG.

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Agency CDOs on Connecting With Federal Employees With Data Science Skills

Data Science

Chief data officers said they were able to establish connections with federal employees with skills in data science driven by recent visibility into their mission. Daniel Morgan said the agency helps empower a group of employees to gain access to data and make connections with other individuals through his office. 

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Fiscal Service Bureau Launches Efforts to Digitally Transform Financial Processes

Fiscal Service Bureau

The Bureau of the Fiscal Service initiated a couple of new efforts to simplify how the U.S. federal government processes and manages financial activities. The Digital End-to-End Efficiency initiative aims to fully automate and digitally transform a business process instead of only automating certain, individual tasks, the bureau said Monday.

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Rep. Nancy Pelosi, Steven Mnuchin Agree on Continuing Resolution Ahead of FY 2021

US Capitol

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.

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