Content Tagged As treasury_department

2 years 2 months ago

US hits Syrian cabinet members with sanctions

WASHINGTON (AP) - The Obama administration is slapping financial sanctions on a huge swath of top members in Syrian President Bashar Assad's government, targeting the prime minister and 28 other cabinet ministers and senior officials. The Treasury Department announced the sanctions on Wednesday, hours after top Syrian officials were killed...

2 years 7 months ago

Treasury to release corporate tax plan Wednesday

WASHINGTON (AP) - The Obama administration will propose lowering the current 35 percent corporate tax rate, while at the same time eliminating loopholes and subsidies and imposing a minimum tax on the overseas profits of American companies. Administration officials said the Treasury Department on Wednesday will detail aspects of President...

3 years 1 month ago

AIG repays $2.15 billion to bailout program

WASHINGTON (AP) - American International Group Inc. has paid the federal government $2.15 billion this week after selling off a life insurance subsidiary, trimming its financial bailout balance to roughly $51 billion. The Treasury Department says the repayment comes from AIG's sale of its Nan Shan subsidiary. AIG has...

3 years 1 month ago

Geithner says he will stay at Treasury

WASHINGTON (AP) - Timothy Geithner has told President Barack Obama that he will remain on the job as Treasury secretary. The Treasury Department released a statement Sunday saying Geithner had informed the president of his decision to remain in the administration. Geithner is the only remaining top official on...

3 years 2 months ago

Audit advises foreign securities for CO treasury

DENVER (AP) - An audit of Colorado's Treasury Department recommends that it should consider expanding investments beyond only U.S. securities and look into foreign securities. Tuesday's audit says lawmakers should examine the possibility of eliminating statutory limits that require only domestic security investments. The audit conducted by Buck Global...

4 years 3 months ago

US budget deficit this year: $1 trillion

The budget deficit through the first eight months of the government's budget year is running slightly below last year's record-setting pace. Still, the country on track to record another $1 trillion-plus deficit. In its monthly budget report, the Treasury Department said that the deficit in May totaled $135.9 billion,...

4 years 7 months ago

Government readies changes to mortgage relief plan

The Treasury Department plans on Thursday to unveil changes designed to streamline the burdensome paperwork for its foreclosure relief plan, according to people briefed on the matter. The tweaks to the problem-plagued program could help more borrowers complete loan modifications. But they are unlikely to placate critics who have...

4 years 10 months ago

Treasury expects debt limit will be hit in December

The Treasury Department expects to hit the government's debt limit in December, two months later than its initial estimate, after scaling back an emergency loan program as the financial crisis abated. Treasury Department officials say they're working closely with Congress to pass the legislation needed to boost the debt ceiling,...

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