WASHINGTON — Treasury Secretary Steven Mnuchin denied that he is attempting to limit the choices President-elect Joe Biden will have to promote an economic recovery by ending several emergency loan programs being run by the Federal Reserve. Mnuchin said his decision was based on the fact that the programs were...
Trump Administration Rejects Renewal of Some Emergency Loan Programs
WASHINGTON — Treasury Secretary Steven Mnuchin said Thursday he will not to extend several emergency loan programs set up with the Federal Reserve to support the economy in the midst of the coronavirus pandemic. The decision drew a terse rebuke from the Fed. The central bank said it “would prefer...
Powell and Mnuchin Voice Optimism but Back More Economic Aid
WASHINGTON — Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin expressed cautious optimism Tuesday that the U.S. economy is rebounding from the pandemic-induced recession with federal support but that more help from the government is likely needed. Powell told the House Financial Services Committee that he believed the...
Pelosi, Mnuchin Agree on Plan To Avoid Government Shutdown
WASHINGTON — House Speaker Nancy Pelosi and the Trump administration have informally agreed to keep a stopgap government-wide funding bill — needed to avert a shutdown at the end of this month — free of controversy or conflict. The accord is aimed at keeping any possibility of a government shutdown...
Mnuchin Says Trump Still Wants Virus Deal With Democrats
WASHINGTON — Pressed by Democrats to quickly negotiate a new coronavirus relief package, Treasury Secretary Steven Mnuchin said Tuesday the administration remains willing to work on a bipartisan agreement to help small businesses, the unemployed, children and schools. Democratic leaders in Congress are holding it up with hardened positions, he...
Mnuchin Urges Swift Action on Next Relief Bill; Ex-Fed Chairs Want Bigger Deal.
WASHINGTON — Treasury Secretary Steven Mnuchin urged Congress Friday to quickly enact a new pandemic relief package targeting hardest-hit swaths of the economy, as lawmakers race to stand up federal aid in the face of the latest spike in coronavirus cases and persistent, severe unemployment. Deadlines loom as the $600...
Fresno Regional IRS Center Will Reopen Monday
Internal Revenue Service employees at the Fresno campus will return to work on Monday, according to an internal email to workers from IRS Commissioner Chuck Rettig. The start date was confirmed by the National Treasury Employees Union, which represents IRS employees. "Employees in California, Indiana, Ohio, Puerto Rico, and Oregon, including...
House Demands Coronavirus Loan Info From Treasury, Banks
WASHINGTON — A House subcommittee investigating billions of dollars in coronavirus aid is demanding that the Trump administration and some of the nation's largest banks turn over detailed information about companies that applied for and received federal loans intended for small businesses. The requests Monday came after Treasury Secretary Steven...
New Pressure on Lawmakers as Virus Aid for Firms Hits Limit
WASHINGTON — Lawmakers are struggling to break a stalemate over President Donald Trump’s $250 billion emergency request for a small-business program, stoking uncertainty about when additional support will be available in a key rescue program now exhausted of funds. A House session Friday was expected to simply be a pro...
Congress Closing in on Nearly $2 Trillion Virus Aid Package
WASHINGTON — Top congressional and White House officials say they expect to reach a deal Tuesday on a nearly $2 trillion measure aimed at easing the economic damage inflicted by the coronavirus pandemic. Treasury Secretary Steven Mnuchin and congressional leaders engaged in final negotiations after a tumultuous but productive day on...