Latest U.S. Department of the Treasury News
After sailing though House on bipartisan vote, Biden-McCarthy debt ceiling deal now goes to Senate
WASHINGTON (AP) — Veering away from a default crisis, the House overwhelmingly approved a debt ceiling and budget cuts package, sending the deal that President Joe Biden and Speaker Kevin McCarthy negotiated to the Senate for swift passage in a matter of days, before a fast-approaching deadline....
Stock market today: Asian shares mostly rise after House approves debt ceiling deal
TOKYO (AP) — Asian benchmarks were mostly higher Thursday after the United States House of Representatives approved a debt ceiling and budget cuts package, avoiding a default crisis. But the enthusiasm was muted by worries about the Chinese economy after disappointing recent data...
House OKs debt ceiling bill to avoid default, sends Biden-McCarthy deal to Senate
WASHINGTON (AP) — Veering away from a default crisis, the House approved a debt ceiling and budget cuts package late Wednesday, as President Joe Biden and Speaker Kevin McCarthy assembled a bipartisan coalition of centrist Democrats and Republicans against fierce conservative blowback and...
Debt limit deal heads to vote in full House while McCarthy scrambles for GOP approval
WASHINGTON (AP) — Under fire from conservatives, House Speaker Kevin McCarthy worked furiously Tuesday to sell fellow Republicans on the debt ceiling and budget deal he negotiated with President Joe Biden and win approval in time to avert a potentially disastrous U.S. default. ...
Here's what's in, what's out of the debt limit bill to avert US default
WASHINGTON (AP) — President Joe Biden and House Speaker Kevin McCarthy have been working the phones in an intense push to sell Congress on the 99-page bill that would suspend the nation's debt limit through 2025 to avoid a federal default while limiting government spending. The...
US sanctions Chinese, Mexican companies over pill making machinery
MEXICO CITY (AP) — The United States Treasury sanctioned more than a dozen people and businesses in China and Mexico Tuesday that allegedly helped provide machines used to make counterfeit prescription drugs in the latest efforts to confront trafficking of the deadly synthetic opioid fentanyl. ...
The easiest way to get a $7,500 tax credit for an electric vehicle? Consider leasing.
DETROIT (AP) — Thanks to a boost from the government, leasing — not buying — is becoming the most affordable way to get your hands on an electric vehicle. Last year’s Inflation Reduction Act provided a federal tax credit of up to $7,500 to use toward an EV. Under the rules, a...
Biden and McCarthy reach a final deal to avoid US default and now must sell it to Congress
WASHINGTON (AP) — With days to spare before a potential first-ever government default, President Joe Biden and House Speaker Kevin McCarthy reached final agreement Sunday on a deal to raise the nation's debt ceiling and worked to ensure enough support in Congress to pass the measure in the coming...
Debt ceiling tests Speaker McCarthy as he rides breezily through high-wire act of his career
WASHINGTON (AP) — One morning during the debt ceiling crisis, House Speaker Kevin McCarthy climbed onto his mountain bike and took a ride along the National Mall, marveling at the monuments. The next day he arrived for negotiations at the Capitol carting in tortilla chips and queso...
What's next on the debt ceiling: Selling the plan and making a deal into a law
WASHINGTON (AP) — After weeks of negotiations, President Joe Biden and House Speaker Kevin McCarthy have announced an “ agreement in principle ” to raise the nation’s debt ceiling and avoid a potentially catastrophic default. The agreement includes spending...
