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Content Tagged As treasury_department

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  • Treasury proposes less borrowing

    August 3, 2015 9:00 PM

    WASHINGTON- The treasury Department proposes borrowing the lowest total in eight years at $552-billion. It would represent of drop of almost 18 percent from last year's $670-billion. It'll be the smallest amount the government has borrowed since 2007's $150-billion. A string of record deficits started a borrowing surge... more »
  • US budget deficit drops to $82.4 billion in May

    June 10, 2015 2:04 PM

    WASHINGTON - The U.S. budget deficit for May dropped sharply from the level a year ago but much of the improvement reflected a calendar quirk. The Treasury Department says the deficit dropped to $82.4 billion in May, down from a deficit of $130 billion in May 2014. But last year's... more »
  • Deficit shrinks with record monthly surplus

    May 12, 2015 8:48 PM

    WASHINGTON- A flood of tax payments in April left the country with the largest monthly budget surplus in seven years according to the Treasury Department. Government receipts were $471.8 billion, the largest monthly total on record and the largest surplus since April of 2008. Tax receipts have climbed due... more »
  • Government red tape may be blocking access to refund cards check to see if lock exists for regeneration Play Video

    February 13, 2014 7:39 PM

    BATON ROUGE - Taxpayers are missing out on extra cash and now they have to go back to the state to recoup it. Millions of dollars in 2012 state income tax refunds never made it to taxpayers because the money was dispensed on special refund, gift card-like cards. ... more »
  • Taxpayers about to be non-owners of GM

    September 10, 2013 7:36 PM

    DETROIT- Taxpayers are about to be non-shareholders in General Motors as the government is poised to sell all of its GM stock. The Treasury Department told Congress it sold $811 million worth of GM common stock last month and the government has recovered about $35.4 billion of the $49.5 billion... more »
  • Growth in budget deficit slows

    February 12, 2013 7:13 PM

    The federal government reports a rare surplus for January and the Treasury Department says its on track for the smallest budget deficit since President Obama took office. The surplus was almost $3 billion dollars. It lowered the deficit through the first four months of the budget year to $290 billion,... more »
  • U.S. budget deficit rises

    August 10, 2012 7:42 PM

    The federal budget deficit increased by $70 billion last month and is on track to top $1 trillion for the fourth straight year. The budget year ends in September and the Treasury Department says the deficit stands at $974 billion. Its about eleven and a half percent less than last... more »
  • Regions repays Bailout

    April 4, 2012 7:52 PM

    The government says Regions Financial Corp. repaid $3.5 billion it received during the financial crisis, the largest outstanding bailout owed by a bank. Regions is based in Birmingham, Alabama and previously paid $593 million in dividends. Overall, the Treasury Department says the government was paid back $337 billion of the... more »
  • Government on pace for smaller deficit

    January 12, 2012 7:40 PM

    The federal deficit was lower in the first quarter of the budget year than last and is seen as modest progress for a nation struggling with trillion-dollar deficits. The imbalance is high by historical standards and should keep Congress debating tax increases and spending cuts into the year leading up... more »
  • Budget Deficit Improves

    December 12, 2011 7:15 PM

    The federal government is on pace to run a budget deficit under one trillion dollars for the first time in four years. The Treasury Department says the deficit is $236 billion for the first two months of the budget year but $55 billion lower than the same two months last... more »
  • Treasury imposes penalties linked to alleged plot

    October 11, 2011 3:05 PM

    WASHINGTON - The Treasury Department says it is imposing economic penalties against four people who are linked to an alleged plot to assassinate the Saudi ambassador to the United States. Two of them have been charged in New York federal court. They are Manssor Arbashiar, a naturalized U.S. citizen... more »
  • Federal deficit tops $1T for third straight year

    August 10, 2011 1:16 PM

    WASHINGTON - The nation's budget deficit has topped $1 trillion for a third straight year, adding pressure on Congress and the White House to make more progress on a long-term plan to shrink the growing imbalance. The Treasury Department says the deficit through July totals $1.1 trillion. Three... more »
  • Treasury announces completion of AIG plan

    January 14, 2011 11:55 AM

    WASHINGTON - The government says it has completed a restructuring plan that will allow American International Group Inc. to repay bailout funds it received at the height of the financial crisis. The Treasury Department said it had completed the previously announced set of transactions with the insurance company and the... more »
  • More Borrowing to keep Government Afloat

    November 1, 2010 7:32 PM

    The Treasury Department has to borrow the second largest amount in history, $362 billion, to cover the current Ocotober-December quarter. Treasury says the amount is actually down from the first estimate because the government ended the budget year in September with $40 billion more on hand than expected. The borrowing... more »
  • Businesses add workers under program that provides tax breaks

    July 12, 2010 10:33 AM

    The Treasury Department says businesses have added 4.5 million workers under a new program that provides tax breaks for hiring unemployed workers. The bill passed in March exempts businesses that hire people who have been unemployed for at least 60 days from paying the 6.2 percent Social Security payroll... more »
  • Chrysler makes partial payment on bail out

    May 17, 2010 8:17 PM

    Chrysler paid the Treasury Department $1.9 billion to settle a $4 billion loan. The department says while the money is short of the original loan, the amount is still more than the government expected to get. The loan was made during the Bush Administration when the government was scrambling to... more »
  • $100 bill gets a makeover

    April 21, 2010 1:29 PM

    The folks who print America's money have designed a high-tech makeover of the $100 bill complete with disappearing Liberty Bells and magical ribbons. It's all part of an effort to stay ahead of counterfeiters as copying technology becomes more sophisticated and more dollars flow overseas. The makeover was... more »
  • Millions will have to repay part of tax credit

    November 16, 2009 9:21 AM

    More than 15 million taxpayers could unexpectedly owe taxes when they file their federal returns next spring because the government was too generous with their new Making Work Pay tax credit. The Treasury Department issued a report Monday saying that taxpayers are at risk if they have more than... more »

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