The Trump administration has finalized a rule that will allow shell companies and other questionable entities to conceal their ownership from federal investigators, in a move that critics say will only further facilitate corruption in the U.S. The Treasury Department’s Financial Crimes Enforcement Network announced on Tuesday that it is ending the regulation that requires companies to…
Source
The U.S. Treasury Department announced that it is expanding its sanctions regime, known as “Economic Fury,” against Iran on Tuesday, escalating the administration’s economic warfare against the country just hours before President Donald Trump announced an extension of the ceasefire in Iran. The administration said it is sanctioning 14 individuals and entities that it claims are involved in…
Source
If President Donald Trump is successful in his lawsuit to sue the Internal Revenue Service (IRS) for $10 billion over the leak of his tax returns, U.S. taxpayers will be footing the bill, Treasury Secretary Scott Bessent confirmed on Thursday. In a hearing by the Senate Banking Committee, Sen. Ruben Gallego (D-Arizona) asked, “let’s say, for some reason, he actually wins that lawsuit…
Source
President Donald Trump has sued the US Treasury Department and Internal Revenue Service for $10 billion over the leak of his tax returns during his first term in the White House, when the president broke with decades of tradition by refusing to voluntarily divulge the records. The lawsuit — joined by Trump’s two eldest sons and his family business, the Trump Organization — was revealed…
Source
Treasury Secretary Scott Bessent has announced several initiatives aimed at combating supposed benefit fraud as the Trump administration is seizing upon the issue to amp up its violent immigration crackdown in Democratic-led states and cities. The news comes after right-wing Youtuber Nick Shirley went viral for videos accusing Somali people in Minneapolis of deceptively collecting Medicaid…
Source
Republican Sen. Tim Scott (South Carolina) blocked a bill seeking to stop President Donald Trump’s unprecedented $20 billion bailout of Argentina and its far right government on Tuesday, with Democrats criticizing Republicans’ priorities as Americans languish under GOP cuts to social programs. Sen. Elizabeth Warren (D-Massachusetts) tried to pass the No Argentina Bailout Act on Tuesday…
Source