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Treasury's official blog, featuring blog posts from Treasury's senior officials and staff sharing news, announcements and information about the work done at the Treasury Department.

Treasury's Lapse in Appropriations Contingency Plan

By: Nani Coloretti
Friday, September 27, 2013

​As Congress continues to consider a spending bill for the upcoming fiscal year, many Americans are understandably concerned about federal services and how a potential shutdown might affect them.  Today, as part of our efforts to provide clear information about Treasury functions and services if Congress does not reach a funding agreement, we are releasing our updated contingency plans for the Department and its bureaus.
Posted in: Management and Budget

Reflecting on the Auto Rescue Five Years Later

By: Tim Massad
Thursday, September 26, 2013

​Last week, I travelled with the President to Ford’s Kansas City assembly plant where he reflected on the revival of the automobile industry, which is now profitable and creating jobs at the fastest pace in 15 years. In fact, since June 2009, when GM and Chrysler emerged from bankruptcy, over 340,000 jobs have been created. ​
Posted in: Financial Stabilitiy

Secretary Lew Sends Debt Limit Letter To Congress

By: Brandi Hoffine
Wednesday, September 25, 2013

​​Today, Secretary Lew sent the following letter to Congress regarding the debt limit.​
Posted in: Debt Limit

Engaging China on Fair Innovation Policies

By: Holly Shulman
Tuesday, September 24, 2013

At the World Economic Forum’s Annual Meeting of the New Champions in Dalian earlier this month, Chinese Premier Li highlighted the importance of innovation as part of China’s reform moving forward.  Innovation, including providing non-discriminatory treatment for Intellectual Property Rights (IPR), was one of the many key issues that were discussed at the U.S.- China Strategic and Economic Dialogue (S&ED).
Posted in: International Affairs

Business Leaders, Economists Underscore Consequences of Default

By: Anthony Coley
Tuesday, September 24, 2013

​ In recent weeks, business leaders, economists, and other members of the financial community have spoken out about the dangers of delaying a debt limit increase or risking – for the first time in the nation’s history – a default.
Posted in: Debt Limit

Helping Homeowners Recover from the Financial Crisis

By: Adam Hodge
Friday, September 20, 2013

​Earlier this week, Secretary Lew attended a Making Home Affordable (MHA) Help for Homeowners event in Landover, Maryland.  While there, the Secretary met with homeowners affected by the financial crisis and participated in a roundtable discussion with the DC metropolitan area’s housing leaders to discuss local and national approaches to foreclosure prevention. ​
Posted in: Making Home Affordable

Myth vs. FATCA: The Truth About Treasury’s Effort To Combat Offshore Tax Evasion

By: Robert Stack
Friday, September 20, 2013

​The Foreign Account Tax Compliance Act (FATCA) is rapidly becoming the global standard in the effort to curtail offshore tax evasion.  This month’s G-20 communique marked another important milestone; highlighting the importance of global tax transparency and a renewed commitment to work towards an international standard for the exchange of tax information. 

Posted in: Tax Policy

Secretary Lew Warns Of Dangers Of Debt Limit Delay In Speech To The Economic Club Of Washington

By: Brandi Hoffine
Wednesday, September 18, 2013

​Recalling the damage caused in 2011 by the drawn-out debate in Congress over raising the nation’s debt limit, Secretary Lew cautioned that repeating the same mistake this time around could once again disrupt financial markets and roll back economic progress.
Posted in: Debt Limit

Response to TIME Magazine Article on Financial Reform

By: Anthony Coley
Friday, September 13, 2013

In the fall of 2008, our economy faced challenges on a scale not seen since the Great Depression. In response, the federal government took unprecedented actions to protect the economy and reform a broken and outdated financial system to provide better protections for taxpayers and consumers. The notion that these reforms are somehow a “myth,” as Rana Foroohar suggests in her September 23, 2013 story is wrong. 

Posted in: Wall Street Reform

The Financial Crisis Five Years Later: Response, Reform, and Progress In Charts

By: Anthony Reyes
Wednesday, September 11, 2013

​As we approach the five-year anniversary of the height of the crisis, the financial system is safer, stronger, and more resilient than it was beforehand. We are still living with the broader economic consequences, and we still have more work to do to repair the damage. But without the government’s forceful response, that damage would have been far worse and the ultimate cost to repair the damage would have been far higher.​
Posted in: Financial Stabilitiy
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