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The Latest Breaking News from the Treasury Department

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

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‘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

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.

Roll Call

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

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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.

Tribune News Service

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.

WEKU

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.

Roll Call

Schwab Stock Slides On Downgrade; Yellen To Call For Tighter Bank Rules

SCHW stock slides after downgrade. Yellen to call for stricter banking rules. Bank stocks mixed early Thursday as regulators quell worries.

Investors Business Daily

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.

Bangkok Post

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.

Tribune News Service

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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…

The Independent UK

China says US spreading disinformation, suppressing TikTok

China is accusing the United States 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

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The Independent UK

TikTok dismisses calls for Chinese owners to divest in US

TikTok is dismissing calls for its Chinese owners to sell their stakes in the popular video-sharing app, saying such a move wouldn’t help protect national security

The Independent UK

Washington reacts on the fly to Silicon Valley Bank failure

After a frenetic weekend of round-the-clock briefings, U.S. policymakers took the audacious step of guaranteeing all the deposits of the failed Silicon Valley Bank — even those exceeding the Federal Deposit Insurance Corporation's $250,000 limit

Salon

Fox host trashes GOP's Hunter Biden hype

"It's been five years and what do we have for it? Five years is a long time to be investigating," Bill Hemmer said

Tribune News Service

US Treasury to give House Republicans a look at financial reports on Biden's family and associates

WASHINGTON — The U.S. Treasury Department is set to allow House Republicans to inspect reports on foreign banking and other business transactions by relatives of President Joe Biden, including his son Hunter Biden and his associates.

The Independent UK

US turns to new ways to punish Russian oligarchs for the war

The U.S. has begun an aggressive new push to inflict pain on Russia’s economy and especially its oligarchs with the intent of thwarting the Kremlin’s invasion of Ukraine

Tribune News Service

Biden says those behind SVB bank ‘mess’ will be held accountable

President Joe Biden said that he ordered the Treasury Department and his economic advisers to address the failures of Silicon Valley Bank and Signature Bank, adding that those responsible will be held accountable.

Tribune News Service

US plans emergency measures to backstop banks after SVB

The Federal Reserve and the Treasury Department are preparing emergency measures to shore up banks and ensure they can meet potential demands by their customers to withdraw money, as the U.S. seeks to stave off a deeper crisis after SVB Financial Group’s failure.

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