The federal government collected a record amount of taxes in the first 10 months of fiscal year 2015, exceeding $2.6 trillion in revenue, according to the latest monthly Treasury Department statement. Despite the record revenue, the federal government ran a deficit of $465 billion.
The Treasury Department announced Wednesday that it would be making a new $10 bill, replacing Alexander Hamilton with a woman. The verdict knocked the creator of the musical “HAMILTON” off his feet.
The Treasury Department defended changes to the transparency website USASpending.gov on Wednesday, saying that the redesign is in line with the Obama administration’s track record on transparency.
The Senate’s top Democrat is proud of securing taxpayer backing for a green energy company accused by former employees of fraudulently obtaining federal grant money, his office said this week.
The Treasury Department faces difficulties as it mounts a program to cut off funding to Islamic State (IS) terrorists that are currently raising “tens of millions” each month through oil sales, ransoming hostages, criminal activities, and donations from wealthy Islamist sympathizers.
Viacom is turning to former Democratic Rep. Howard Berman (Calif.) to help it navigate its business in Russia around the latest round of sanctions placed on Putin’s regime, according to Politico.
Watchdog group Judicial Watch sent a letter on Wednesday to the Internal Revenue Service calling for the withdrawal of a new proposal regarding nonprofit groups, calling the proposal a “plainly unconstitutional regulation that arbitrarily reverses 53 years of administrative and judicial precedent.”
A recently revealed memo from the Treasury Department indicates that owners of Fannie Mae and Freddie Mac common stock will not be able to access any future earnings from the mortgage giants, a previously undisclosed arrangement that experts say might violate securities laws and amount to a de facto nationalization of the companies.
Taxpayers are expected to lose $10 billion on the GM bailout, as the Treasury Department begins to sell off its remaining 101.3 million shares.