Latest Janet Yellen News
The biggest remaining unsanctioned Russian bank hit with U.S. sanctions, nearly three years into war
WASHINGTON (AP) — Russia's third largest bank, Gazprombank and its six foreign subsidiaries were hit with U.S. sanctions on Thursday — in a move intended to curtail Russia's ability to evade the thousands of sanctions imposed on the nation since the start of Russia's invasion of Ukraine in...
G7 allies are moving ahead with a $50 billion loan for Ukraine backed by frozen Russian funds
WASHINGTON (AP) — Ukraine will receive $50 billion in loans, backed by frozen Russian assets, from Group of Seven allies, the White House said Wednesday. Distribution of the money will begin by year's end, according to American officials who said the United States is providing $20 billion of the...
Yellen says isolationism 'made America and the world worse off' in speech to global finance leaders
WASHINGTON (AP) — Treasury Secretary Janet Yellen told world financial leaders Tuesday that the U.S. economy has grown stronger because the Biden administration rejected isolationism, offering a barely veiled criticism of former President Donald Trump’s policies two weeks before the U.S....
Treasury proposes rule to prevent large corporations from evading income taxes
WASHINGTON (AP) — The Biden administration on Thursday proposed a new rule that would require the largest U.S. companies to pay at least 15% of their profits in taxes. Treasury Department officials estimate that about 100 of the biggest corporations — those with at least $1...
Trump said fixing child care would not be very expensive. Here are price tags for other proposals
Asked recently how he would bring down the high cost of child care, former President Donald Trump said doing so would be relatively “not very expensive” — at least, not compared with revenue from tax hikes he would impose on foreign goods. Economists are skeptical tariffs would...
Treasury recovers $1.3 billion in unpaid taxes from high-wealth tax dodgers
WASHINGTON (AP) — The IRS has collected $1.3 billion from high-wealth tax dodgers since last fall, the agency announced Friday, crediting spending that has ramped up collection enforcement through President Joe Biden's signature climate, health care and tax package signed into law in 2022. ...
Yellen says ending Biden tax incentives would be 'historic mistake' for states like North Carolina
WASHINGTON (AP) — Treasury Secretary Janet Yellen warned voters in the battleground state of North Carolina that they could lose jobs if Republicans weaken a signature Biden administration law that encourages investments in manufacturing and clean energy. Yellen said that...
New US rules try to make it harder for criminals to launder money by paying cash for homes
REHOBOTH BEACH, Del. (AP) — The Treasury Department has issued regulations aimed at making it harder for criminals to launder money by paying cash for residential real estate. Under rules finalized Wednesday, investment advisers and real estate professionals will be required to...
