Chevron Gets U.S. License to Pump Oil in Venezuela Again
The license was granted after Venezuelan President Nicolás Maduro’s government and an opposition coalition agreed to implement a humanitarian program...
treasury department
U.S. Deficit Shrank Last Fiscal Year, but Is Poised to Widen as Economy Slows
The U.S. budget deficit narrowed last year, but a cooling economy and rising interest rates put it on track to...
Essay | Janet Yellen’s Learning Curve
When Janet Yellen testified before a congressional commission almost a decade ago about the 2007-2009 global financial crisis, an interlocutor...
U.S., Allies Negotiating Price Level for Russian Oil Cap
WASHINGTON—The U.S. and its partners are rushing to hammer out an agreement on a level for a price cap on...
Caterpillar Settles Tax Dispute With IRS, Will Pay No Penalties
Caterpillar Inc. said the settlement included the resolution of the disputed tax treatment of profits earned by a subsidiary from...
The U.K., a Maritime Insurance Hub, Commits to Cap Price of Russian Oil
WASHINGTON—The British Treasury chief said the U.K. was committed to a U.S.-led effort to put a cap on the price...
U.S. Steps Up Enforcement of Its Long List of Russia Sanctions
WASHINGTON—The U.S. has imposed a set of powerful sanctions against Russia’s economy to punish it for the invasion of Ukraine....
Treasury Moves to Ease Limits on Foreign Tax Credits After Companies Object
WASHINGTON—The U.S. Treasury Department is softening its limits on foreign tax credits, responding to corporations that have been warning about...
Sen. Joe Manchin Balks at Global Minimum Tax Championed by Biden
WASHINGTON—The Biden administration’s international tax agenda suffered a setback when Sen. Joe Manchin rejected a 15% minimum tax on multinational...
Treasury Nominee Pressed on Global Tax Deal, China Tariffs, Inflation
WASHINGTON—Senators pressed Jay Shambaugh, President Biden’s pick to serve as the Treasury Department’s top economic diplomat, about the administration’s efforts...
Janet Yellen and China’s Top Trade Negotiator Discuss Tariffs on Call
HONG KONG—Chinese Vice Premier Liu He and U.S. Treasury Secretary Janet Yellen spoke by videoconference about topics including American tariffs...
U.S. Push for Exceptions in Europe’s Sanctions on Russian Oil Gains Traction
A U.S. push to pare back one of the European Union’s sanctions on Russian oil has tentatively started to gain...
Why It’s So Hard to Keep Russian Diamonds and Gold Out of the U.S. Despite Sanctions
Russian gold and diamonds could still be sold in the U.S. despite being sanctioned, lawmakers and industry participants say, unless...
Conservation Tax-Break Deals Keep Flowing Despite IRS Crackdown
WASHINGTON—More than six years into an Internal Revenue Service clampdown on what the agency says are abuses of land-conservation tax...
Former Treasury Official Michael Barr Is Frontrunner for Top Fed Banking Regulator
WASHINGTON—Michael Barr, a former Treasury Department official, is the White House’s leading candidate to serve as the Federal Reserve’s top...
Biden’s Budget Calls for Increase in Defense Spending, Including Funds for Ukraine
WASHINGTON—President Biden on Monday released a $5.8 trillion budget that envisions a substantial increase in U.S. defense spending, a sign...
IRS Delays, Sudden End to Tax Break Leave Employers Frustrated With Covid Credits
IRS processing delays and federal policy changes are creating headaches for businesses and nonprofits using a popular wage subsidy that...
White House to Order Broad Review of Cryptocurrencies
WASHINGTON—The White House is set to release an executive order this week tasking several federal agencies with conducting a broad...
U.S. to Spend $10 Billion to Boost Small Businesses
The U.S. is planning to hand out $10 billion to help upstart companies gain access to capital in a bid...
Headaches and Backlogs Loom as Tax Filing Season Nears Again
WASHINGTON—The third tax-filing season during the coronavirus pandemic is set to begin soon with more delays, uncertainty and frustration likely...
