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Treasury Department

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Trump Accounts app launches to open child investment accounts with up to $1,000 seed
business2 hours ago

Trump Accounts app launches to open child investment accounts with up to $1,000 seed

The U.S. Treasury's Trump Accounts app launches to open 530A (child) investment accounts; eligible families can sign up now via IRS Form 4547, with a potential $1,000 Treasury seed for births 2025–2028. Funding starts July 4, and annual contributions can reach up to $5,000 per child (employer contributions up to $2,500) to be invested in broad U.S. equity index funds, with activation occurring in waves after identity verification.

via CNBC|
#530a-accounts#business#child-investment-accounts
politics8 days ago

Treasury General Counsel Leaves as Trump Funds Anti-Weaponization Initiative

Brian Morrissey, the Treasury Department’s general counsel, resigned the same day the Trump administration announced a roughly $1.776 billion ‘anti-weaponization fund’ to settle Trump’s lawsuit over IRS-leaked tax returns; financed through the federal judgment fund and overseen by a five‑member commission appointed by the attorney general, the move drew bipartisan criticism over the appearance of self‑dealing.

via Politico|
#anti-weaponization-fund#bipartisan-criticism#brian-morrissey-resignation
Treasury Seeks Retraction Over FT Story on Fed Oversight Plan
business2 months ago

Treasury Seeks Retraction Over FT Story on Fed Oversight Plan

The U.S. Treasury formally demanded the Financial Times retract a March story about Scott Bessent’s alleged push for tighter Federal Reserve oversight modeled on the Bank of England, disputing several claims and the headline. The Treasury says the statements are false, while the FT stands by its reporting and included Treasury responses. The episode, coming amid Trump-era pressure on the Fed and market sensitivity to the central bank’s independence, highlights ongoing tensions over monetary policy and oversight.

via theguardian.com|
#business#federal-reserve#financial-times
Trump's signature to appear on all new U.S. currency, Treasury breaks with tradition
politics2 months ago

Trump's signature to appear on all new U.S. currency, Treasury breaks with tradition

The U.S. Treasury announced that President Trump’s signature will appear on all new paper currency, a first for a sitting president and a break from the usual signatures of the Treasury Secretary and Treasurer, as part of commemorations around America’s 250th birthday; the plan has drawn political debate and raises questions about the legality of depicting a living president on currency, with support and criticism from lawmakers and experts.

via PBS|
#currency#federal-reserve#politics
Trump to Place His Signature on All New U.S. Dollars, Treasury Signature Still Featured
politics2 months ago

Trump to Place His Signature on All New U.S. Dollars, Treasury Signature Still Featured

The U.S. Treasury announced it will put President Trump’s signature on all new paper currency, a first for a sitting president, with the Treasury Secretary’s signature also appearing. The move is framed as commemorating the nation’s 250th birthday but is expected to draw political and legal scrutiny and criticism from opponents.

via Fortune|
#currency#donald-trump#politics
Trump’s signature to adorn U.S. dollars for the first time as a sitting president
politics2 months ago

Trump’s signature to adorn U.S. dollars for the first time as a sitting president

The U.S. Treasury says President Donald Trump’s signature will soon appear on paper dollar bills, marking the first time a sitting president’s signature is on U.S. currency and tying into the 250th anniversary celebrations; the move has raised legal questions since living presidents have been restricted from appearing on currency, and Democrats have introduced legislation to ban such depictions.

via CNN|
#politics#semiquincentennial#signature
Trump's Signature Set to Appear on U.S. Currency for 250th Anniversary
economy2 months ago

Trump's Signature Set to Appear on U.S. Currency for 250th Anniversary

The Treasury announced that President Trump will have his signature printed on U.S. dollar bills to mark the nation’s 250th anniversary, a first for a sitting president; currency signatures have historically come from the treasurer and the secretary of the treasury, with Treasury Secretary Scott Bessent praising the move. A related Trump-appointed commission approved a design for 24-karat commemorative gold coins featuring Trump’s image (still awaiting Treasury approval). The article frames the effort as part of Trump’s broader push to imprint his name on national symbols.

via NBC News|
#currency#economy#signature
policy2 months ago

Treasury to Take Charge of Federal Student Loans in a 3-Phase Plan

Education officials unveiled a three-phase plan to gradually transfer the roughly $1.7 trillion federal student loan portfolio from the Education Department to the Treasury, starting with defaulted loans, then non-defaulted loans, and finally program enforcement, aiming for a seamless transition but drawing questions from critics about oversight and potential red tape.

via Politico|
#default-loans#education-department#interagency-agreement
Treasury to Manage Defaulted Federal Student Loans Amid Education Department Restructuring
government2 months ago

Treasury to Manage Defaulted Federal Student Loans Amid Education Department Restructuring

The Education Department will transfer its roughly $1.7 trillion federal student aid portfolio to the Treasury, which will handle defaulted loan collections and, in a later phase, administer FAFSA, as part of interagency moves critics say amount to dismantling the department. Officials say the changes aim to fix long‑standing mismanagement and improve programs without requiring borrowers to take action, while unions and lawmakers warn of confusion and higher costs amid staff cuts and ongoing servicer performance concerns.

via Federal News Network|
#defaulted-debt#education-department#federal-student-aid
economy3 months ago

Warsh's Quiet Fed Overhaul Aims to Align With Trump's Rate-Cut Push

Kevin Warsh, Trump’s candidate to lead the Fed, advocates a gradual overhaul of the central bank’s asset holdings and balance sheet to coordinate with a Treasury that also seeks lower rates; while designed to reduce borrowing costs and mortgage rates, the plan could raise long-term rates and disrupt markets, requiring careful, incremental steps and broad support on the Fed’s rate‑setting committee, with questions about whether the benefits justify the costs.

via Politico|
#economy#federal-reserve#kevin-warsh
Trump Sues IRS and Treasury Over Tax-Return Leaks, Demands $10 Billion
politics3 months ago

Trump Sues IRS and Treasury Over Tax-Return Leaks, Demands $10 Billion

Trump has filed a federal Miami lawsuit seeking at least $10 billion from the IRS and Treasury, alleging an IRS contractor leaked his and his sons’ and the Trump Organization’s tax returns to media in 2020, causing reputational and financial harm; the suit cites the contractor’s 2024 conviction and notes ongoing litigation as part of Trump’s broader series of lawsuits.

via CBS News|
#irs#lawsuit#politics