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The Latest Breaking News from the Treasury Department

Stocks Mixed Ahead of an Expected +25 bp Fed Rate Hike

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is up +0.05%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -0.09%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.24%. U.S. stocks this morning are mixed. The markets are...

Barchart

Yellen to travel to Japan for G7 finance ministers meeting

U.S. Treasury Secretary Janet Yellen will travel to Niigata, Japan next week to participate in the Group of Seven (G7) finance ministers and central bank governors meeting, the Treasury Department said on Wednesday.

Reuters

Family of ex-Bosnian Serb leader sues US to escape sanctions list

Family members of former Bosnian Serb political leader Radovan Karadzic, who was convicted of war crimes for his role in the 1990s Balkan conflict, sued the U.S. Treasury Department on Tuesday over their continued inclusion on a U.S. sanctions list.

Reuters

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US, Turkey cooperate on terrorism-related sanctions -Treasury

The United States worked together to impose terrorism-related sanctions on two individuals linked to funding two Syria-based groups already sanctioned by the United States and United Nations, the Treasury Department said on Tuesday.

Reuters

US borrowing increases as standoff over debt continues

The Treasury Department said Monday it plans to increase its borrowing during the April to June quarter of this year

The Independent UK

Biden Is Rewriting the Rules on Trade—and Americans Should Be Worried

The administration is doing a sneaky end run around the Inflation Reduction Act.

Foreign Policy

What's behind the looming 'x-date' on the US debt limit?

In January, the U.S. government ran up against its legal borrowing capacity of $31.381 trillion, and the Treasury Department began implementing “extraordinary measures” to avoid a default

The Independent UK

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Only 10 electric vehicles qualify for full $7,500 US tax credit

Only 10 electric and plug-in hybrid vehicles will qualify for $7,500 federal tax credits in the U.S. after stricter battery-sourcing rules take effect and render most plug-in models ineligible.

Tribune News Service

US imposes new sanctions on Russian oligarch, Hungary bank

The Treasury Department has announced new sanctions aimed at Russian oligarch Alisher Usmanov

The Independent UK

Clean energy projects for coal towns

The Biden administration wants to give a boost to the fossil fuel "energy communities" of coal country

Salon

Electric Car Prices Are Falling, With or Without Tax Credits

The Inflation Reduction Act imposes byzantine requirements to qualify for the credits. Some automakers are simply ignoring them and finding other ways to lower prices.

Reason

New Mexico Cops Fatally Shoot Homeowner After Showing Up at the Wrong House

Plus: Los Angeles sues journalist who published police photos, IRS releases $80 billion budget plan, and more...

Reason

‘Total and complete disaster’: DeSantis takes rhetorical aim at Fed Chairman Powell

WASHINGTON — Ron DeSantis has found a new rhetorical target as he prepares for a potential presidential bid: Federal Reserve Chairman Jerome Powell.

McClatchy Washington Bureau

U.S. sanctions former Haitian official under human rights program

The United States imposed sanctions on the former president of Haiti's Chamber of Deputies on Wednesday under a program focused on human rights abuse and corruption, the Treasury Department said on its website.

Reuters

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Roll Call

Treasury tops up tax credits where fossil fuel jobs were lost - Roll Call

The administration plans to deploy federal money in former coal towns and communities losing fossil fuel jobs.

Tribune News Service

Getting a discounted electric vehicle is about to become harder

WASHINGTON — It will soon become harder to get a full $7,500 tax credit for a new electric vehicle under proposed rules released Friday by the U.S. Treasury Department — and interested buyers should move fast.

Tribune News Service

New electric vehicle credit rules set, over Manchin’s objections

WASHINGTON — The Treasury Department laid out specifics on how automakers can certify whether their electric cars qualify for new subsidies of up to $7,500 enacted in last year’s climate spending package.

WEKU

The $7,500 tax credit to buy an electric car is about to change yet again

Tax credits for electric car purchases are getting even more complicated. It will likely mean fewer vehicles will qualify — but we don't know which.

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Roll Call

New electric vehicle credit rules set, over Manchin's objections - Roll Call

The Treasury Department laid out specifics on how automakers can certify whether their electric cars qualify for new subsidies.

Bangkok Post

Save our fading modern architecture

If you are reading this, you probably hope that we will start taking better care of our historic architecture here in Thailand. But you might not immediately think of our modern buildings constructed during the 1950s, 1960s and 1970s.

Tribune News Service

Biden sidesteps banking turmoil as he calls on Congress to act

As the global banking crisis stretches into its third week, President Joe Biden has turned to a familiar playbook — lay low and point the finger at Congress.

Tribune News Service

Will the collapse of two US banks be followed by more? These banking veterans say no, for now

The sudden collapse of two U.S. banks last week left many people wondering about the safety of their own deposits, the health of the banking system and consequences down the road.

Asharq Al-Awsat

Why TikTok's Security Risks Keep Raising Fears

TikTok is once again fending off claims that its Chinese parent company, ByteDance, would share user data from its popular video-sharing app with the Chinese government, or push propaganda and misinformation on its behalf. China’s Foreign Ministry on Wednesday accused the United States itself of spreading disinformation about TikTok's potential…

Manchester Evening News

TikTok to be banned on government phones in the UK

Asharq Al-Awsat

China Says US Spreading Disinformation, Suppressing TikTok

China accused the United States on Thursday of spreading disinformation and suppressing TikTok following reports that the Biden administration was calling for its Chinese owners to sell their stakes in the popular video-sharing app. The US has yet to present evidence that TikTok threatens its national security and was using…

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