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The Latest Breaking News from Janet L Yellen

White House's EV tax credit implementation in the spotlight - Roll Call

Lawmakers on both sides of the aisle are scrutinizing how the Biden administration handles new incentives for buying electric vehicles.

Roll Call

Lawmakers open to Biden’s call to claw back SVB executive pay - Roll Call

Lawmakers from both parties are open to executive compensation clawback legislation after the failure of SVB and Signature Bank.

Roll Call

Doyle McManus: Silicon Valley Bank's collapse may be a blessing in disguise

In the brief but spectacular collapse of Silicon Valley Bank, we may just have witnessed the best banking crisis ever.

Los Angeles Times

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Debt limit breach would be ‘devastating’ for banks, Yellen says at hearing

WASHINGTON — Treasury Secretary Janet L. Yellen told senators on Thursday that the banking system remains sound in the aftermath of Silicon Valley Bank's collapse. But she warned that failure to raise the debt limit in time would be devastating for banks after the turmoil.

Tribune News Service

Yellen: Debt limit breach would be 'devastating' for banks - Roll Call

Treasury Secretary Janet L. Yellen told senators on Thursday that the banking system remains sound despite Silicon Valley Bank's collapse.

Roll Call

Michael Hiltzik: With demands for a bank bailout, Silicon Valley shows its 'small government' mantra was just a pose

For decades, the dominant mantra of Silicon Valley's powerful has been that government is just a drag on their innovative spirit. Get regulators off our backs, they've argued, and we'll improve people's lives to an indescribable degree.

Los Angeles Times

SVB: Here Is the Joint Statement Of the Regulators to Reassure Everyone

The Treasury Department, the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) unveiled an emergency plan on Sunday to avoid contagion from the collapse of Silicon Valley Bank.

The Street

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Yellen, House Republicans spar over tax increases, debt limit

WASHINGTON — House Republicans slammed the Biden administration’s tax proposals in a hearing with Treasury Secretary Janet L. Yellen on Friday, giving the president’s latest budget request an icy reception.

Tribune News Service

Yellen, House Republicans spar over tax increases, debt limit - Roll Call

House Republicans slammed the Biden administration’s tax proposals in a hearing with Treasury Secretary Janet L. Yellen on Friday.

Roll Call

Obscure law contains debt limit escape hatch for Social Security

WASHINGTON — It’s a time-worn argument for raising the debt limit: Without increased borrowing authority, Social Security checks would stop flowing.

Tribune News Service

Obscure law contains debt limit escape hatch for Social Security - Roll Call

It’s a time-worn argument for raising the debt limit: Without increased borrowing authority, Social Security checks would stop flowing.

Roll Call

Think tank out with new debt limit timing projection

WASHINGTON — The government will run out of cash to pay its bills by “summer or early fall” unless Congress lifts the statutory debt limit, the Bipartisan Policy Center estimated Wednesday.

Tribune News Service

Think tank out with new debt limit timing projection - Roll Call

The government could run out of cash to pay its bills by “summer or early fall," the Bipartisan Policy Center estimated Wednesday.

Roll Call

Government will hit debt limit as soon as July, CBO says

WASHINGTON — The federal government will run out of cash to pay all its bills sometime between July and September unless the statutory debt limit is lifted, the Congressional Budget Office warned Wednesday.

Tribune News Service

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Roll Call

CBO: Debt limit to hit as soon as July, budget picture worsens - Roll Call

The federal government could run out of cash to pay all its bills sometime between July and September unless the debt limit is lifted.

Los Angeles Times

Michael Hiltzik: The US economy is again being held hostage to our ridiculous federal debt ceiling

The individuals in charge of U.S. fiscal policy are often thought to be among the most sober people in the world, so you may be wondering why we're suddenly hearing ideas such as the minting of a trillion-dollar platinum coin or selling $100 face-value Treasury bonds for $200.

Tribune News Service

Manchin floats fiscal commissions for debt limit bill

WASHINGTON — As President Joe Biden and most congressional Democrats say they won’t negotiate with Republicans on lifting the debt ceiling, at least one party centrist is willing to work across the aisle to get a deal.

Roll Call

Manchin floats fiscal commissions for debt limit bill - Roll Call

The West Virginia centrist senator has a bipartisan proposal to set up expedited votes on trust fund solvency measures.

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Roll Call

Parties dig in for protracted fight over debt ceiling - Roll Call

Top House Republicans want to talk to President Joe Biden about the debt ceiling, but Democrats are in no mood to negotiate.

Roll Call

Yellen warns Treasury could hit debt ceiling as early as June - Roll Call

She said Treasury secretary will be forced to deploy “extraordinary measures” to keep from exceeding $31.4 trillion statutory borrowing cap.

Roll Call

House GOP wants answers on IRS leak - Roll Call

House Ways and Means Republicans are renewing pressure on the Biden administration over a leak of taxpayer information to ProPublica.

Tribune News Service

Yellen defends IRS cash infusion, plugs customer service plans

WASHINGTON — The IRS will use part of its new $80 billion influx of cash to fully staff in-person help centers, increase phone and online services and assemble a team of experts to guide the agency’s customer service efforts, Treasury Secretary Janet L. Yellen announced Thursday.

Roll Call

Yellen defends IRS cash infusion, plugs customer service plans - Roll Call

The IRS will use part of its new $80 billion influx of cash to fully staff in-person help centers and increase phone and online services.

Los Angeles Times

Jackie Calmes: No, Tucker Carlson, armed IRS agents won't be coming for Amercans' money

My dad was an armed IRS agent, gun-toting for good reason. He helped bust mob figures across northern Ohio for tax evasion, from Toledo to Youngstown. He died too young (of natural causes), and his public service is among my best memories.

Tribune News Service

Democratic bill would mandate new IRS free tax-filing program

WASHINGTON — Sen. Elizabeth Warren is leading fellow Democrats in renewing a push for the IRS to create its own free tax-filing services and move away from its current private partnership, whose services only a slim portion of taxpayers use.

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