treasury department

What to know about Fort Knox’s gold depository

March 1, 2025 Rebecca Reynolds

LOUISVILLE, Ky. — President Donald Trump says Elon Musk will be looking at Fort Knox, the legendary depository in Kentucky for American gold reserves, to ensure the gold is still there. Treasury Secretary Scott Bessent […]

$1.8B in SC state funds found; accounting error questions remain

January 26, 2025 Jeffrey Collins

COLUMBIA, S.C.— It turns out that $1.8 billion in South Carolina state funds weren’t just sitting in a bank account waiting to be spent. Instead, it was an accounting error compounded over years instead […]

Changes to battery rules could make more EVs eligible for tax credits

May 8, 2024 The Associated Press

DETROIT — The U.S. government on Friday loosened some rules governing electric vehicle tax credits, potentially making more EVs eligible for credits of up to $7,500 but leading critics to accuse the Biden administration of […]

Yellen extends to Dec. 15 date for potential debt default

November 19, 2021 Martin Crutsinger, Associated Press

WASHINGTON, D.C. — Treasury Secretary Janet Yellen told Congress Tuesday that she believed she would run out of maneuvering room to avoid the nation’s first-ever default soon after Dec. 15. In a letter to congressional […]

US budget deficit hits $2.77 trillion in 2021, 2nd highest

October 22, 2021 Martin Crutsinger, Associated Press

WASHINGTON, D.C. — The U.S. budget deficit totaled $2.77 trillion for 2021, the second highest on record but an improvement from the all-time high of $3.13 trillion reached in 2020. The deficits in both years […]

McConnell warns Yellen that GOP won’t help raise debt limit

September 17, 2021 Kevin Freking, Associated Press

WASHINGTON, D.C. — Senate Minority Leader Mitch McConnell has warned Treasury Secretary Janet Yellen he is not budging on his demand that Democrats go it alone on the federal debt limit, deepening the emerging standoff […]

Yellen warns US may hit debt limit in October

September 16, 2021 Martin Crutsinger and Alan Fram, Associated Press

WASHINGTON, D.C. — Treasury Secretary Janet Yellen is warning Congress that she will run out of maneuvering room to prevent the U.S. from broaching the government’s borrowing limit in October. In a letter to congressional […]