Government finance

This Sept. 18, 2019 photo shows the U.S. Treasury Department building viewed from the Washington Monument in Washington. The Treasury Department says it will need to borrow a record $2.99 trillion during the current April-June quarter to cover the cost of various rescue efforts dealing with the coronavirus pandemic. Treasury said Monday, May 4, 2020 that the $2.99 trillion it plans to borrow this quarter will far surpass the $530 billion quarterly borrowing it did in the July-September 2008 quarter as it dealt with the 2008 financial crisis. The extraordinary sum of $2.99 trillion of borrowing in a single quarter dwarfs the $1.28 trillion the government borrowed in the bond market for all of 2019. (AP Photo/Patrick Semansky)
Associated Press
May 04, 2020 - 5:49 pm
WASHINGTON (AP) — The economic paralysis triggered by the coronavirus pandemic is forcing the U.S. Treasury to borrow far more than it ever has before — $2.99 trillion in the current quarter alone. The amount is more than five times the government’s previous record borrowing for a quarter, $569...
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A woman wears a mask to protect against coronavirus, waits in line for a mobile food pantry at Barclays Center Friday, April 24, 2020, in the Brooklyn borough of New York. (AP Photo/Frank Franklin II)
Associated Press
April 24, 2020 - 8:00 pm
NEW YORK (AP) — New York's daily coronavirus death toll dropped slightly, state leaders braced for a $13.3 billion budget hit, and residents will be receiving applications for mail-in ballots. Details on developments in the coronavirus outbreak in New York: ___ THE NUMBERS New York reported its...
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President Donald Trump speaks about the coronavirus in the Rose Garden of the White House, Tuesday, April 14, 2020, in Washington. (AP Photo/Alex Brandon)
Associated Press
April 15, 2020 - 5:54 am
WASHINGTON (AP) — President Donald Trump said he was cutting off U.S. payments to the World Health Organization during the coronavirus pandemic, accusing the organization of failing to do enough to stop the virus from spreading when it first surfaced in China. Trump, who had telegraphed his...
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President Donald Trump speaks about the coronavirus in the Rose Garden of the White House, Tuesday, April 14, 2020, in Washington. (AP Photo/Alex Brandon)
Associated Press
April 14, 2020 - 9:24 pm
WASHINGTON (AP) — President Donald Trump said Tuesday that he was cutting off U.S. payments to the World Health Organization during the coronavirus pandemic, accusing the organization of failing to do enough to stop the virus from spreading when it first surfaced in China. Trump, who had...
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FILE - In this Jan. 16, 2019, file photo, doors at the Internal Revenue Service (IRS) in the Henry M. Jackson Federal Building are locked and covered with blinds as a sign posted advises that the office will be closed during the partial government shutdown in Seattle. Videos and reports claiming that you'll have to pay back the relief checks the federal government is sending to millions of Americans are false, federal agencies confirmed to The Associated Press. (AP Photo/Elaine Thompson, File)
Associated Press
April 14, 2020 - 7:27 pm
CHICAGO (AP) — Videos and online reports claiming that millions of Americans will have to repay the relief checks they receive from the federal government under the $2.2 trillion coronavirus economic recovery bill are not true. The government began issuing the one-time payments this week. Most...
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FILE - In this March 18, 2020, file photo, the Washington Monument and the U.S. Capitol are seen in Washington, at sunrise. Congress is considering ways to govern from afar during the coronavirus pandemic. Lawmakers are talking this week about whether it's possible to conduct virtual committee meetings, particularly to oversee how the $2.2 trillion stimulus money is being spent. And they're considering ways to pass virus-related legislation without requiring every lawmaker to be present. (AP Photo/Carolyn Kaster, File)
Associated Press
April 10, 2020 - 2:30 pm
WASHINGTON (AP) — The federal government's budget deficit for the first half of this budget year totaled $743.6 billion, up 7.6% from last year, and well on its way to topping $1 trillion even before the impacts of the coronavirus were felt. The Treasury Department reported Friday that the deficit...
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FILE - In this Monday, March 2, 2020 file photo, Gilead Sciences CEO Daniel O'Day speaks at a meeting with President Donald Trump, members of the Coronavirus Task Force, and pharmaceutical executives in the Cabinet Room of the White House in Washington. Gilead, the pharmaceutical giant that makes remdesivir, a promising coronavirus drug, has registered it as a rare disease treatment with U.S. regulators on Monday, March 23, 2020, a status that can potentially be worth millions in tax breaks and competition-free sales. (AP Photo/Andrew Harnik)
Associated Press
March 24, 2020 - 9:11 pm
WASHINGTON (AP) — The pharmaceutical giant that makes a promising coronavirus drug has registered it as a rare disease treatment with U.S. regulators, a status that can potentially be worth millions in tax breaks and competition-free sales. What that specialty status will actually mean for the...
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FILE - In this Tuesday, March 3, 2020 file photo, Federal Reserve Chair Jerome Powell pauses during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. In a series of sweeping steps, the U.S. Federal Reserve will lend to small and large businesses and local governments as well as extend its bond buying programs. The announcement Monday, March 23 is part of the Fed's ongoing efforts to support the flow of credit through an economy ravaged by the viral outbreak. (AP Photo/Jacquelyn Martin, File)
Associated Press
March 23, 2020 - 2:41 pm
WASHINGTON (AP) — The Federal Reserve is unleashing its boldest effort yet to protect the U.S. economy from the coronavirus by helping companies and governments pay their bills and survive a devastating crisis. With lending in Treasury and mortgage markets threatening to shut down, the Fed...
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This photo provided by the New York Stock Exchange shows trader Patrick Casey, left, and specialist Peter Mazza as they work on the trading floor on Friday, March 20, 2020. Stocks turned lower Friday after New York became the latest major state to mandate nearly all workers stay home to limit the spread of the new coronavirus. (Nicole Pereira/NYSE via AP)
Associated Press
March 20, 2020 - 5:13 pm
Wall Street ended the week the same way it began: in full retreat from the coronavirus. Stocks fell sharply and the price of oil sank Friday as federal and state governments moved to shut down bigger and bigger swaths of the nation’s economy in the hope of limiting the spread of the outbreak. The...
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Treasury Secretary Steve Mnuchin, center, speaks with members of the media as he departs a meeting with Senate Republicans on an economic lifeline for Americans affected by the coronavirus outbreak. on Capitol Hill in Washington, Monday, March 16, 2020. (AP Photo/Patrick Semansky)
Associated Press
March 20, 2020 - 12:19 pm
WASHINGTON (AP) — The income tax filing date has been pushed back from April 15, to July 15, Treasury Secretary Steven Mnuchin said. Mnuchin announced the decision in a tweet Friday saying that at President Donald Trump’s direction “we are moving Tax Day from April 15 to July 15. All taxpayers and...
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