Latest Steven Mnuchin News

FILE - In this Sept. 25, 2019, file photo, The White House is seen from the Ellipse in Washington. Forty lobbyists with ties to President Donald Trump helped their clients secure over $10 billion in federal coronavirus aid. Among them are five former administration officials whose lobbying work potentially violates an ethics order Trump issued after taking office.  (AP Photo/Carolyn Kaster, File)

Trump-connected lobbyists reap windfall in federal virus aid

Jul. 6, 2020 10:19 PM EDT

WASHINGTON (AP) — Forty lobbyists with ties to President Donald Trump helped clients secure more than $10 billion in federal coronavirus aid, among them five former administration officials whose work potentially violates Trump's own ethics policy, according to a report. The lobbyists identified Monday by...

FILE - In this June 30, 2020 file photo, Treasury Secretary Steven Mnuchin testifies during a House Financial Services Committee hearing on the coronavirus response on Capitol Hill in Washington. The Treasury Department said it is releasing on Monday, July 6 the names of more than 700,000 companies that received funds from the government’s small business lending program, a massive effort intended to support the economy as states shut down in April to contain the viral outbreak (Tasos Katopodis/Pool via AP, File)

Small business aid went beyond hard-hit companies, data show

Jul. 6, 2020 6:53 PM EDT

WASHINGTON (AP) — The government on Monday identified roughly 650,000 mostly small businesses and nonprofits that received taxpayer money through a federal program that was designed to soften job losses from the coronavirus but also benefited wealthy, well-connected companies and some celebrity owned...

FILE - In this June 10, 2020 file photo, Jovita Carranza, Administrator of the Small Business Administration, testifies during a Senate Small Business and Entrepreneurship hearing to examine implementation of Title I of the CARES Act, on Capitol Hill in Washington. The Treasury Department said it is releasing on Monday, July 6 the names of more than 700,000 companies that received funds from the government’s small business lending program, a massive effort intended to support the economy as states shut down in April to contain the viral outbreak.  (Kevin Dietsch/Pool via AP, File)

The Latest: Financial firms among big relief fund recipients

Jul. 6, 2020 5:59 PM EDT

NEW YORK (AP) — The Latest on the Treasury decision to identify hundreds of thousands of businesses that received funding through the Paycheck Protection Program, created to preserve jobs at smaller businesses during the coronavirus pandemic: ___ The financial services industry received roughly $27 billion...

FILE - In this June 25, 2020 file photo, a price sign is displayed at a retail store as a store employee wears a mask while working in Niles, Ill. Small businesses can still get help from the government’s coronavirus relief plan after Congress extended the Paycheck Protection Program until Aug. 8. The program that had been set to expire last week still has more than $130 billion left after giving out more than 4.8 million loans since its April 3 start. (AP Photo/Nam Y. Huh, File)

Q&A: The nuts and bolts of the Paycheck Protection Program

Jul. 6, 2020 12:09 PM EDT

NEW YORK (AP) — Small businesses can still get help from the government’s coronavirus relief plan after Congress extended the Paycheck Protection Program until Aug. 8. The program that was set to expire Tuesday still has nearly $132 billion left after giving out more than 4.8 million loans since it...

Wearing masks amid concerns of the spread of COVID-19, volunteers Karen Cooperstein, right, and Edwin Chinchilla, left, prepare food for the pubic during a drive through food pantry distribution by Catholic Charities in Dallas, Thursday, July 2, 2020. (AP Photo/LM Otero)

US unemployment falls to 11%, but new shutdowns are underway

Jul. 2, 2020 4:28 PM EDT

WASHINGTON (AP) — U.S. unemployment fell to 11.1% in June as the economy added a solid 4.8 million jobs, the government reported Thursday. But the job-market recovery may already be faltering because of a new round of closings and layoffs triggered by a resurgence of the coronavirus. While the jobless rate...

FILE - In this Wednesday, March 25, 2020, file photo, American Airlines jets sit idly at their gates as a jet arrives at Sky Harbor International Airport in Phoenix. American Airlines and four smaller carriers have reached agreement with the government for billions more in federal loans, a sign of the industry’s desperate fight to survive a downturn in air travel caused by the virus pandemic. The Treasury Department said Thursday, July 2, 2020, that it had finalized terms of new loans to American, Spirit Airlines, Frontier Airlines, Hawaiian Airlines and SkyWest Airlines. (AP Photo/Matt York, File)

American and 4 other airlines reach loan agreements with US

Jul. 2, 2020 12:50 PM EDT

DALLAS (AP) — American Airlines and four smaller carriers have reached agreement with the government for billions more in federal loans, a sign of the industry’s desperate fight to survive a downturn in air travel caused by the virus pandemic. The Treasury Department said Thursday that it had signed...

Federal Reserve Board Chairman Jerome Powell, left, and Treasury Secretary Stephen Mnuchin, bump elbows at the conclusion of a House Committee on Financial Services hearing on oversight of the Treasury Department and Federal Reserve pandemic response, Tuesday, June 30, 2020 on Capitol Hill in Washington.  (Tasos Katopodis/Pool via AP)

Congress extends relief program for COVID-slammed businesses

Jul. 1, 2020 8:35 PM EDT

WASHINGTON (AP) — The House on Wednesday easily passed a temporary extension of a subsidy program for small businesses slammed by the coronavirus, speeding the measure to President Donald Trump. Approval by voice vote without debate came after Democrats pushed the legislation through the GOP-controlled...

FILE - In this Feb. 2, 2010, file photo, a Yellow Freight/Roadway Express truck travels east on I-70, near Lecompton, Kan. The struggling trucking company once sued by the Department of Defense is getting a $700 million loan from the U.S. government because it is “critical to maintaining national security,” the Treasury Department said Wednesday, July 1, 2020. U.S. taxpayers will take a 29.6% stake in YRC Worldwide as a result of the deal, which was made as part of the Coronavirus Aid, Relief, and Economic Security Act. (AP Photo/Orlin Wagner, File)

Treasury to loan $700M to trucking company DOD sued in 2018

Jul. 1, 2020 2:02 PM EDT

SILVER SPRING, Md. (AP) — A struggling trucking company once sued by the Department of Defense is getting a $700 million loan from the U.S. government because it “is critical to maintaining national security," the Treasury Department said Wednesday. U.S. taxpayers will take a 29.6% stake in YRC...

American flags are reflected in a protective shield as Treasury Secretary Steven Mnuchin testifies during a House Financial Services Committee hearing on the coronavirus response on Capitol Hill in Washington, Tuesday, June 30, 2020. (Tasos Katopodis/Pool via AP)

Mnuchin says hardest-hit businesses should be next aid focus

Jun. 30, 2020 3:19 PM EDT

WASHINGTON (AP) — Treasury Secretary Steven Mnuchin told Congress on Tuesday that the administration wants the next round of economic aid to focus supporting businesses like restaurants that have been hardest hit by the coronavirus crisis. Mnuchin said he is already talking to lawmakers about getting...

FILE - In this May 22, 2020, file photo, the Federal Reserve building is viewed in Washington. The Federal Reserve's Main Street lending program is off to a slow start. Banks are showing a surprising lack of interest in the program, while businesses are having a hard time accessing it. (AP Photo/Patrick Semansky, File)

Fed's program for loaning to Main Street off to slow start

Jun. 30, 2020 12:05 AM EDT

WASHINGTON (AP) — Michael Haith, owner and CEO of a Denver-based restaurant chain called Teriyaki Madness, is in an unusual position for people like him: He's making money through food delivery and pickup and wants to borrow funds so he can expand. Yet so far, a Federal Reserve lending program set up...