Senate confirms former banker Mnuchin as Treasury secretary
A bitterly divided Senate on Monday confirmed Steven Mnuchin as treasury secretary despite strong objections by Democrats that the former banker ran a “foreclosure machine” when he headed OneWest Bank.
Treasury pick defends foreclosure actions, asset disclosure
Steven Mnuchin, President-elect Donald Trump’s pick as Treasury secretary, clashed with Democrats during a lengthy confirmation hearing Thursday over his handling of thousands of mortgage foreclosures and his failure to initially disclose to the committee nearly $100 million in assets and interests in a Cayman Islands corporation.
Trump’s Treasury pick facing criticism over foreclosures
Donald Trump’s pick to lead the Treasury Department, Stephen Mnuchin, built his reputation and his fortune as a savvy Wall Street investor.
Congressman seeks to block changes to US currency
A Republican congressman is trying to block the Treasury from redesigning U.S. currency, a move that could prevent the government from replacing Andrew Jackson on the front of the $20 bill with abolitionist Harriet Tubman.
U.S. on track for narrowest budget gap since 2008
The U.S. government ran a big surplus in April, thanks to a flood of tax payments that helped keep the budget on track for the lowest annual deficit in six years.
Obama to return 5 percent of salary to Treasury
Sharing a bit of budget pain, President Barack Obama will return 5 percent of his salary to the Treasury in a show of solidarity with federal workers smarting from government-wide spending cuts.
GOP leader: House to vote on debt limit increase
House Republican leaders Friday offered President Barack Obama a three-month reprieve to a looming, market-rattling debt crisis, backing off demands that any immediate extension of the government’s borrowing authority be accompanied by stiff spending cuts.
House GOP may seek short-term debt limit extension
House Republicans may seek a quick, short-term extension of the government’s debt limit, a move that would avoid an immediate default by the Treasury as the party seeks to maximize leverage in negotiations over spending cuts with President Barack Obama this spring, officials said Thursday.
Obama taps Lew for Treasury
Jack Lew, President Barack Obama’s nominee for treasury secretary, is a premier federal budget expert who would take the helm of the government’s main agency for economic and fiscal policy just as the administration girds itself for a new confrontation with congressional Republicans over the nation’s debt and deficits.