President Donald Trump signed an executive order creating a voluntary process for federal review of powerful AI models before release. The order focuses on cybersecurity and national security while avoiding mandatory licensing requirements for AI companies.
Posts tagged as “the Treasury Department”
Senate Democrats are intensifying efforts to block the Trump-era $1.8 billion anti-weaponization fund amid legal challenges and concerns over taxpayer payouts. A new bill seeks to shut down the fund and bar payments linked to lawsuits by the president or vice president.
The Treasury Department is preparing a $250 bill featuring President Donald Trump’s portrait, pending congressional approval. The bill would be the first U.S. currency to depict a living person in over 150 years as part of the nation’s 250th anniversary celebrations.
President Trump and the Justice Department settle a $10 billion IRS lawsuit by creating a $1.7 billion fund to address claims of government "weaponization." The fund will provide a process for victims to seek redress but awards no damages to Trump or his family.
The U.S. Treasury Department announced that President Donald Trump’s signature will be added to new paper currency for the first time, commemorating the nation’s 250th anniversary alongside Treasury Secretary Scott Bessent’s signature. This change coincides with plans for a 24-karat gold commemorative coin featuring Trump’s likeness, both intended to honor the country’s historic milestone and Trump’s recent economic leadership. The new currency is expected to be introduced later this year amid ongoing economic challenges, with the Treasury praising Trump’s impact on the nation’s economic revival.
The White House has announced the creation of the United States-Ukraine Reconstruction Investment Fund, a new economic partnership aimed at aiding Ukraine's recovery and development by facilitating joint investments and unlocking the country's growth potential. A significant aspect of this agreement involves the extraction and ownership of Ukraine's natural resources, including rare earth minerals, which is intended to strengthen Ukraine's economic infrastructure and provide the U.S. with valuable resources. The partnership, formalized by officials from both nations, is seen as a strategic commitment to supporting Ukraine's sovereignty and prosperity while sending a message to Russia about the U.S.'s dedication to a peaceful resolution.
In the first 100 days of President Donald Trump's second term, federal spending has increased by approximately $220 billion compared to the same period in 2024, despite promises to reduce expenditures. This rise in spending, highlighted by CBS News through Treasury Department reports, surpasses levels seen in most of the past decade, with the exception of 2021's COVID-19 response. Analysts and policymakers are focused on this spending increase, which contrasts with the administration's fiscal conservatism goals and raises questions about the long-term implications for the federal budget and economic landscape.
The U.S. Department of Education will begin involuntary collections on May 5 through the Treasury Department's offset program to address the issue of federal student loans in default. This initiative aims to recover delinquent debts by withholding government payments from individuals with outstanding loans, as more than 5 million borrowers are currently in default, with numbers potentially rising to 10 million. The department's efforts, including wage garnishment, are part of a broader strategy to tackle financial challenges in the federal student loan system and encourage borrowers to meet their repayment obligations.