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@SecScottBessent
79th United States Secretary of the Treasury
As the Iranian people struggle to afford basic necessities, the corrupt regime continues to squander enormous sums abroad. Instead of funneling billions of dollars to its terrorist proxies, the regime should spend that money for its people.
Far-left extremists, their fronts, and their enablers should be on notice: We will bring the full weight of our economic tools to bear. Political terrorism has no place in our society, and we will continue to cut the financial lifelines of these groups until they are eliminated.
Treasury Department@USTreasury·Today, Treasury’s Office of Foreign Assets Control took action to counter the growing threat posed by violent far-left terrorist groups. Globally networked and politically motivated terrorists—particularly far-left terrorists—are increasingly embracing organized, deadly violence in pursuit of their objectives. t.co/Riao16n3zN
I appreciate H.E. Shaikh Salman bin Khalifa Al Khalifa’s coordination on Operation Economic Outcast. Alongside @POTUS, we will continue to work closely to defend the integrity of the global financial system and cripple the threat of the Iranian regime.
Treasury Department@USTreasury·.@SecScottBessent spoke today with Bahrain’s Minister of Finance and National Economy, H.E. Shaikh Salman bin Khalifa Al Khalifa, to discuss Operation Economic Outcast. Secretary Bessent stressed that Iran must not be permitted to threaten international commerce or use the Strait of Hormuz as leverage against the global economy. He also emphasized the importance of sustained financial pressure on Iran’s remaining economic lifelines and underscored that the United States will hold the regime’s financial enablers accountable. Secretary Bessent also welcomed Bahrain’s longstanding partnership and its continued commitment to safeguarding the integrity of the international financial system. The two officials agreed on the importance of continued coordination between the United States, Bahrain, GCC partners, and the broader international community to combat illicit finance and strengthen economic security.
Iran’s leadership is admitting what the world can now see: the pressure is working. President Masoud Pezeshkian acknowledged Iran’s economic shortages, saying, “The war must come to an end at some point.” Mohammad Bagher Ghalibaf, Iran’s parliamentary speaker, was even more direct: “No matter how much military power we have, if people are hungry and we don’t have financial circulation, economic growth and domestic production, we will not endure.” Under President Trump, Treasury will continue to sever every economic lifeline sustaining this regime until Tehran stands alone.
In the Second World War, D-Day marked the historic beginning of a campaign with our allies to target and drive the enemy from its positions, including those in third countries. Today, in that same spirit, we are launching an economic onslaught against Iran’s financial connections around the globe. Our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone. President Trump has taken action that his predecessors have long deferred. Under his leadership, America is no longer managing the Iranian threat. We are ending it. Those who stand with the United States will reap the rewards of our partnership. Those who tether themselves to Tehran should expect to share in the isolation of a withering regime.
On March 6, 2025, at the Economic Club of New York, I said that if I were an Iranian, I would get my money out of the rial. At the time, "official inflation" was 35%, the currency had depreciated by 60%, and the exchange rate was 887,500 rials to the U.S. dollar.
Iran’s currency keeps plummeting: today, crashing through the exchange rate of 2 million rials to the U.S. dollar. Over the weekend, Iran's Central Bank Governor Abdolnaser Hemmati said that the simultaneous drop in Iran’s oil revenues, tax income, and social security contributions has affected every part of Iran's economy. 3 million, here we come!
President Trump has dismantled Iran’s military capabilities, destroyed nearly 100 percent of its military factories, and buried its nuclear program. We are now entering the endgame. At dawn begins an economic D-Day — the single greatest financial offensive ever marshaled against an adversary. The Islamic Republic has subsisted by dressing extortion as security guarantees. It has drawn strength from a calculus that regards Iranian retaliation as certain and American enforcement as negotiable. Under President Trump, that era is over. And those who fear the danger of defying Tehran ought not to discount the cost of testing Washington. The President has created the conditions to leverage every agency, every authority and action many assumed we would never summon. Our objective is to sever every economic lifeline that sustains the tyrannical regime until Tehran stands alone.
Read my full thoughts in the @FT: ft.com/content/cb8652…
Congratulations to @FLOTUS Melania Trump on today's expansion of the Fostering the Future scholarship initiative with IndyCar and university partners. Investing in foster youth is an investment in America's future—and it's great to see these race cars spotlighting such an important cause.
We want to bring the G20 back to its core mission. That mission is talking about what countries can do, what economies can do, and how we can band together to achieve better global growth. Our message to our allies and our trading partners is that global growth is the way to take care of this mountain of debt.
Any remaining tie to Tehran will hasten a nation's economic oblivion, whether that tie be purposefully constructed or willfully ignored.
We were left with a mess. The Biden administration had the highest deficit-to-GDP in history when we weren't at war or weren't in a recession. For 2025, we brought it down by more than a percent.
Once again, the professor has come up short… His latest screed is an impressive display of economic prestidigitation. He concedes that wages are growing faster for low-income workers and then attempts to bury that dispositive fact beneath nearly 2,000 words. Bank of America data show that spending among lower- and middle-income households has converged toward levels at the top as they lead labor market gains. Professor Reich has a documented history of “inventing dialogue” when the truth doesn’t fit his narrative, a habit that forced him to rewrite his memoir after the media exposed his fabrications. Burger King appears not to be the only one who peddles “Whoppers.” As I do not like “punching down,” this will be the last response to his four-decade pattern of packaging falsehoods as fact.
Robert Reich@RBReich·An Open Letter to Scott Bessent robertreich.substack.com/p/an-open-lett…
Under @POTUS, the days of illegal aliens collecting taxpayer-funded benefits are over. The federal law is clear, and @USTreasury is enforcing it. American taxpayers should not be forced to foot the bill for benefits going to those who are barred by law from receiving them. These proposed regulations end the abuse, protect the integrity of the tax system, and put Americans first.
.@POTUS and Congress delivered the GENIUS Act, establishing a landmark framework and clear rules of the road for payment stablecoins, and Treasury is moving quickly to implement that framework. @USTreasury welcomes input from stakeholders as we work to provide the regulatory certainty businesses need to innovate and grow in America, cement the role of the U.S. dollar as the world’s reserve currency, and keep America the crypto capital of the world.
Show me where communism has ever worked before—whether it’s the Soviet Union, Cuba, or Venezuela. With these policies, you always end up with less. Core inflation, which came out days ago, was 2.5%—a very good number, moving toward the Fed’s 2% target. What we’ve seen over the past year is that wages for the bottom 25% of working Americans were up 5.5%.
New @FinCENnews analysis underscores that stronger border security is putting criminal smuggling networks on the defensive. Suspected human smuggling-related Bank Secrecy Act reports fell 62% in 2025, alongside the sharp decline in illegal southwest border crossings. The Trump Administration is restoring border security and disrupting transnational criminal organizations to Keep America Safe.
In Iowa, I joined @ZachNunn, @SteveScalise, @RepJasonSmith, @IowaBankers, Iowa Superintendent of Banking James Johnson, and local banking leaders to discuss how @POTUS’ economic agenda is delivering for American families and Main Street. From providing certainty through the Working Families Tax Cuts and supporting financial literacy with Trump Accounts to fighting financial crime and cutting unnecessary regulatory burdens, this Administration continues to encourage investment, unlock capital, and ensure community banks can serve the families, entrepreneurs, and small businesses that drive the American economy.
Karoline has been a great friend and an incredible partner in advancing President Trump’s America First agenda. She is a fighter who has never backed down from defending the President, this administration, and the millions of Americans who support Making America Great Again. I have always valued her judgment, her candor, and her unwavering commitment to our country and the American people. I have tremendous respect for her decision to put family first, and I am grateful for her friendship and all she has done for this administration. Karoline has a very bright future ahead, and I know she will remain a powerful voice for President Trump and the America First movement. It has been an honor serving alongside you.
Karoline Leavitt@karolineleavitt·Serving as the White House Press Secretary over the past year and a half has been the honor and adventure of a lifetime. I am incredibly grateful to President Trump for granting me so many extraordinary opportunities, such as working in the West Wing and spending countless hours in the Oval Office, flying around the world and meeting foreign leaders, and traveling across our beautiful country and meeting Americans from all walks of life. Most of all, I am thankful to the President for entrusting me with the distinct privilege of speaking on his behalf at the White House podium. I have spoken with great pride about the many historic accomplishments of this Administration, and I have relished holding the liberal media accountable and ensuring the American people hear the truth about President Trump’s successes. Being a mother and welcoming a new baby while working in one of the most demanding jobs in the world has been the most rewarding yet challenging season of my life, to say the least. The truth is since returning to the White House after the birth of my daughter, I have felt in my heart that I cannot be the best mom my two young children deserve while devoting the constant time, energy, and attention required of the White House Press Secretary — and that is why I have ultimately made the bittersweet decision to depart the White House and embark on a new chapter in my life. President Trump has asked me to continue serving as a top advisor to him on the outside, and I will always remain a vocal advocate for MAGA and the Republican Party. Our country is facing an existential threat from an increasingly extremist Democrat Party that seeks to destroy everything great about America, and I believe it is incumbent upon all of us who care about this country to fight back against that threat. My fight is entering a new phase, but it is far from over. Thank you again to the President, the First Lady, and the entire Trump family for your kindness and generosity over the years. Thank you to our amazing Chief of Staff Susie Wiles for empowering me since the day she hired me on the campaign, and to the President’s cabinet, my staff, colleagues, and friends at the White House who work so hard on behalf of our nation. It has been a privilege to serve alongside so many accomplished and impressive people, and I look forward to cheering them on over the next two and a half years. And of course, thank you most especially to my loving and supportive husband and family for the sacrifices they made for me to serve in this role. ♥️🇺🇸
President Trump’s Working Families Tax Cuts created the certainty and conditions necessary for durable, private-sector growth. Great to join @RepMMM and @ShopfloorNAM at the @VermeerCorp facility in Pella, Iowa to hear directly from farmers and manufacturers how America First pro-growth policies are translating into investment and opportunity across America’s heartland.
Today’s action is a victory for common sense and American small businesses. @POTUS promised to cut red tape, and this final rule delivers. Treasury is eliminating a burdensome reporting requirement for millions of law-abiding business owners without compromising our national security.
Treasury Department@USTreasury·Today, @FinCENnews issued a final rule that permanently removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information. FinCEN today also announced that it will delete previously reported information by U.S. persons from the beneficial ownership information database.
We welcome Meta’s release of Muse Glimmer, another win for American innovation. Sustaining U.S. leadership in AI means advancing both open- and closed-weight models, ensuring the future is built on trusted foundations.
Mark Zuckerberg@finkd·Today we're also opening the weights for Muse Glimmer, a great 30B parameter dense model that can run locally. Soon we'll also release the weights for Muse Spark 1.2, our latest foundation model. Meta is a strong supporter of open source and I'm proud of these releases. Congrats to @alexandr_wang and the MSL team for all your great work on these models.
Trump Accounts are giving American families a new way to build wealth from day one. Today, Treasury is publishing guidance that will help families grow Trump Accounts by allowing employers to contribute up to $2,500 tax-free each year for employees’ dependents and giving employees the option to contribute pre-tax dollars directly to those accounts.
Last week in Arizona, I joined @USComptroller and local banking leaders to discuss the critical role they play on the frontlines of furthering our economic and national security. We highlighted recent guidance issued to supervised financial institutions that supports the President’s EO by compelling banks to consider the risks associated with lending to illegal aliens. The Trump Administration will continue working with community banks to combat financial crime, strengthen the banking system, and protect the American people, while also taking steps to reduce their regulatory burden so they can better serve families and small businesses across the country.
Congratulations to @AGToddBlanche on being sworn in as Attorney General. He has been a trusted partner in advancing President Trump’s agenda and a proven leader at @TheJusticeDept. His leadership has delivered real results, and I know he will continue working tirelessly to uphold the rule of law and keep America safe.
It was an honor to join @SecWar, Senator Darline Graham, and Governor @henrymcmaster in renaming Joint Base Charleston in memory of Lindsey Graham. The names we place on our military installations reflect the service we honor, the character we esteem, and the example we ask future generations to follow. Few Americans embodied those virtues more completely than Lindsey. He served our nation for 33 years in uniform and more than three decades in the United States Senate, always guided by his belief that the first obligation of government is to keep the American people safe. Across both of his callings in life, whether the pull of duty brought him to the Air Force or to Congress, a base in Afghanistan or the floor of the Senate, he devoted himself to the same great purpose. He served a cause greater than self. That is why this base will bear Lindsey's name with pride. And the soldiers who serve beneath it will find in his legacy an example to guide their own. His name will forever stand as a testament to a life devoted to service, sacrifice, and country.
McDonald's problem is called Burger King, Professor. No wonder Bill Clinton fired you. UC Berkeley should too, if that’s what passes for “research.” x.com/RBReich/status…
The Iranian regime’s reliance on digital assets and shadow banking networks is further evidence that Economic Fury is working. We will continue to increase the economic pressure. Whether in dollars, rials, or crypto, Treasury will hunt down and dismantle the illicit financial networks that keep the regime afloat.
Iran’s shadow banking system is buckling under Economic Fury, and the regime is running out of ways to move money. Every facilitator that keeps the regime afloat is putting a target on its own back. Treasury will continue to expose these networks and cut them off from the U.S. financial system.
With President Trump’s policies, the fundamentals for American prosperity are in place because American workers are the best in the world. Today’s jobs report understates the underlying strength of the real economy: Main Street is building, factories are producing, and workers are becoming more productive. July marks the 5th straight month of goods-producing job growth. By creating 105K jobs so far this year, goods-producing employment has had the best 7-month start since 2023. Additionally, productivity growth rose more than double the rate expected in Q2, bolstering the conditions for durable growth and real wage gains for American workers. Strong Q3 growth expectations further show that the economy is positioned to accelerate. When America produces more and workers become more productive, Main Street wins: higher wages, stronger businesses, more options for customers, and a durable expansion built on inflation-reducing supply-side strength rather than a temporary sugar high.
Treasury promised to follow the money, and that is exactly what we are doing. We will continue to give law enforcement critical tools to trace criminal networks that siphon taxpayer dollars and move them overseas. The Trump Administration will not allow criminals to profit from programs intended to help vulnerable Americans.
It was great to be at @TPUSA in Phoenix, Arizona, with @AndrewKolvet and @MrsErikaKirk. I had the opportunity to speak with more than 150 student leaders who are working to ensure the next generation of Americans can enjoy the freedoms that make this nation so great. These students understand what’s at stake. Congressional Democrats want to reopen the border, which will drive down wages; push housing costs and rent even higher; and return to the reckless spending that fuels inflation. America’s future is brighter because of the work being done here.
A familiar act of mainstream media sophistry: work backward from a partisan verdict and then call the result analysis. The truth is wages are up for Americans across the distribution, but importantly earnings growth for Main Street workers at the 25th earnings percentile was 5.5% year over year in the latest data this past quarter—more than three times the growth experienced by workers at the 75th percentile. Median weekly earnings also rose a robust 4.6%, well outpacing inflation. This marks a stark improvement from the loss of purchasing power Main Street Americans experienced during the Biden Administration. Families have not forgotten the pain of Biden-era policies. But President Trump is turning the tide. The fact is, lower-wage workers are leading, median workers are gaining, and the pundit-driven K-shaped economy narrative does not hold up. BLS has published the wage data for all to see, including journalists willing to look past the haze of their hostility toward the President.
One year after President Trump signed the Working Families Tax Cuts into law, the promise of the American Dream is extending to every factory floor. It was great to join Speaker Johnson and Congressman Ciscomani at the Frito-Lay facility in Casa Grande, Arizona to discuss how the America First pro-growth economic agenda is giving manufacturers the confidence to invest, expand, and hire.
One of the highlights of the Warsh Fed has been watching stenographers posing as journalists, like the WSJ’s Nick Timiraos, reduced to reporting Fed backroom gossip because they’re incapable of performing real economic or monetary policy analysis without being spoon-fed.
Hardworking Americans should not have to choose between caring for a loved one and earning a paycheck. @POTUS’ Working Families Tax Cuts permanently expands the federal Paid Family and Medical Leave Tax Credit, giving businesses, especially small businesses, greater incentives to provide paid leave so workers can care for a newborn or other family member or recover from a serious illness without sacrificing their financial security. Today's guidance provides employers with the clarity they need to claim the enhanced credit, supporting American workers, families, and businesses.
It was an honor to administer the oath of office to my friend and patriot Jay Clayton as our nation’s ninth Director of National Intelligence in the presence of President Trump, his amazing family and loyal friends in the Oval Office this afternoon. Jay’s career reflects rare breadth and achievement across law, business and academia. In every role, he has paired the force of his intellect with sound judgment and unquestioned integrity. As Chairman of the Securities and Exchange Commission, Jay modernized oversight of our capital markets while reinforcing investor protection. As U.S. Attorney for the Southern District of New York, he brought the full weight of American justice to bear against some of the world’s most sophisticated terrorists and criminal networks. And now, as we approach the twenty-fifth anniversary of September 11th, Jay has again answered the call of public service to ensure our nation discerns danger early, counters it decisively, and never again knows the anguish of that day. Jay, the President’s confidence in you is well placed. You will be an outstanding steward of our national security by keeping our country safe and our adversaries ever mindful of America’s vigilance. So, congratulations to you and your family on this great honor. I am grateful for your willingness to serve. I look forward to working alongside you to protect the safety and security of the American people. And a thank you to Acting Director Bill Pulte for making brave and important choices during his tenure.
The framework for the U.S.-Japan alliance begins with the strong relationship between @POTUS @realDonaldTrump and Prime Minister @takaichi_sanae. We've been in close contact with our Japanese allies, and they are making serious efforts to address the substantial undervaluation of the yen. Through our conversations, we believe they will continue to put the right policies in place to lead the yen’s return to a more normal equilibrium price. Currency intervention is a signal that governments want to change a direction. But only strong, effective policies will result in sustained yen strength.
The Trump Administration delivers for America's trusted partners. Economic security is national security. And the U.S.-Japan alliance is built on both. Friday's coordinated foreign exchange actions countered disorderly yen movements. Treasury remains attentive and in close communication with our counterparts at MOF and BOJ. We will not hesitate to participate in further joint intervention. The FIMA Repo Facility is an important backstop. We would encourage it to be upsized in the coming months. We strongly support Japan's decisive market and monetary steps to correct the substantial undervaluation of the yen. The Takaichi government is moving into an exciting new phase of Abenomics, as nearly 15 years of powerful stimulus have created durable, robust underlying economic dynamics.
Happy Birthday to @VP @JDVance, a fearless champion of President Trump and the America First agenda. More than the strength of his convictions and the might of his intellect, JD has given this Administration the full measure of his devotion to country, perhaps nowhere more powerfully than in the fight against fraud and the defense of every taxpayer dollar. I am grateful for his friendship and the privilege of serving the American people alongside him.
.@DAGToddBlanche has been a trusted partner in advancing President Trump’s agenda and a proven leader @TheJusticeDept. His leadership has delivered real results and America is a safer place because of his work. The senate should not leave for recess without confirming him as Attorney General.
Our Founding Fathers—George Washington, Thomas Jefferson, and Alexander Hamilton—could never have imagined the economy America has built today. It is the envy of the world. As @POTUS has said, record investment is pouring into the United States. Thanks to President Trump's leadership—from digital assets and technological innovation to restoring American manufacturing—we are pulling away from the rest of the world.
I look forward to seeing my longtime friend, Bank of Japan Governor Kazuo Ueda, at the G20 Finance Ministers Meetings in the beautiful Blue Ridge Mountains city of Asheville, North Carolina, at the end of August. Japan's economy continues to perform well under Prime Minister Takaichi, Governor Ueda, and the Bank of Japan Board, which has demonstrated a strong commitment to monetary and financial stability. We continue to enjoy a strong relationship and close coordination.
Today, @USTradeRep Greer and I spoke with Chinese Vice Premier He Lifeng ahead of @POTUS @realDonaldTrump and President Xi's meeting in September. In our discussion, I emphasized that we expect Beijing to fully meet its commitments on rare earths and U.S. agricultural products. We also discussed implementation of the Trade and Investment Boards as a mechanism to secure concrete progress toward a more balanced, fair, and constructive U.S.-China economic relationship.
Those who provide financial services, logistics, or commercial support to the IRGC or Mahan Air are helping sustain a terrorist enterprise. Treasury will continue to identify them, expose them, and cut them off from the U.S. financial system. x.com/USTreasury/sta…
More than a year ago, the House passed the Clarity Act. There’s been progress since — thousands of hours of bipartisan negotiations took place at the staff and Member levels. The Senate Committees on Banking and Agriculture advanced their respective titles. And Senate Republicans produced a floor-ready product that, as I type this, is waiting for a vote. It’s disappointing — but not surprising — that Senate Democrats are choosing politics on the cusp of a major victory for American leadership. Find another instance in history where Congress, when given the choice, opted to push an industry out of the United States rather than smartly regulate it. American Exceptionalism was once a bipartisan goal; if Clarity fails, I have serious doubts. These same Democrats — many of whom have taken millions of dollars from the crypto industry — proclaim that Clarity lacks safeguards for consumers and falls short in countering illicit finance. Nothing could be further from the truth. Titles II and III materially uplift regulatory and compliance obligations for digital asset intermediaries, placing them on similar footing with traditional financial institutions. The Blockchain Regulatory Certainty Act — which Washington lobbyists have spun up as a boogeyman for certain groups of prosecutors and law enforcement — does nothing other than codify longstanding Treasury Department policy that’s remained consistent across Administrations: non-custodial builders and developers are not, and have never been, subject to registration obligations under the Bank Secrecy Act. And at this point, major law enforcement trades that once opposed the bill, including the Fraternal Order of Police, have now endorsed it. The Senate needs to vote NOW on this landmark legislation. The truth is that Senate Democrats are afraid to advance the Clarity Act as they fear Senator Warren and the “Anti-Crypto Army” she once promised to build. In the days ahead, Leader Thune will put this theory to the test. Will Senate Democrats be on the side of American Exceptionalism, or will they opt to cede American leadership of a global industry for fear of the bespectacled squirrel’s Left flank? America will lead or America won’t. It’s not more complicated than that. I believe Satoshi once said it best: “If you don’t believe me or don’t get it, I don’t have time to try to convince you, sorry.”
Treasury’s recent analysis confirms that @POTUS’ tax policies are delivering as promised. American families and workers overwhelmingly benefited from the Working Families @TaxCuts, claiming $82 billion in individual relief this past tax filing season. home.treasury.gov/news/press-rel…
CFIUS plays a critical role in protecting U.S. national security while ensuring the United States remains the world’s most attractive destination for investment. With this new website, the Trump Administration is significantly upgrading CFIUS’ customer service, making it easier for companies, investors, and their counsel to find the information they need, understand our processes, and facilitate greater foreign investment in the United States, consistent with the goals of @POTUS @realDonaldTrump's America First Investment Policy.
CFIUS plays a critical role in protecting U.S. national security while ensuring the United States remains the world’s most attractive destination for investment. With this new website, the Trump Administration is significantly upgrading CFIUS’ customer service, making it easier for companies, investors, and their counsel to find the information they need, understand our processes, and facilitate greater foreign investment in the United States, consistent with the goals of @POTUS @realDonaldTrump's America First Investment Policy.
With its economy in freefall and inflation in the triple digits, the regime is desperate for cash. The United States will not allow Iran to hold global commerce hostage or use international shipping to finance the IRGC’s terrorism, aggression, and repression. x.com/USTreasury/sta…
Today, South Carolina has laid to rest one of its most devoted sons in Lindsey Graham. I joined his dear sister Darline and fellow South Carolinians in Columbia to mourn his passing and to honor his memory. The grief felt across the Palmetto State reveals the gratitude of a people who know how completely Lindsey had given himself to them over a lifetime of service. His was a distinctly American ascent from Central, South Carolina to the pinnacle of the United States Senate. Along the way, the arc of Lindsey’s life stirred the pride of every South Carolinian who saw in him one of our own. It reminded us that in America, the circumstances of one’s upbringing are never binding. And that the highest places remain well within reach of those born far from power and privilege. Beneath the force of Lindsey’s convictions as an iconic American statesman was a man of uncommon warmth and generosity of spirit. It was one of the great privileges of my life to call him my friend. May God surround the Graham family with comfort as they draw strength from a grateful state. And may Lindsey’s memory be the blessing his life was.
Renaming Joint Base Charleston in honor of Lindsey Graham is a worthy tribute to a life spent in service of our nation. I am grateful to Elliott Summey for his advocacy of this initiative and to @DeptofWar leadership for its rapid implementation. x.com/rapidresponse4…
Whistleblowers play a critical role in protecting the integrity of our financial system. @USTreasury launched a new webpage that brings our whistleblower programs together in one place, making it easier to find information and navigate the reporting process.
Today, @POTUS and I joined Senator Darline Graham, the Graham family, and friends from across the nation to honor the life and legacy of Senator Lindsey Graham. Lindsey was a great patriot and dedicated public servant who never stopped fighting for the Palmetto State and the American people. I’m grateful to have worked alongside him to advance President Trump’s agenda at home and abroad. It was an honor to call him my friend and my senator. His legacy of service to South Carolina and our nation will endure.
Through @TrumpAccounts, @POTUS is helping a new generation of Americans enter our economy with both a stake in its future and the knowledge of how to thrive in it. At today's Financial Literacy and Education Commission meeting, I was pleased to discuss how the most successful program launch in government history will unleash a financial literacy boom. 7 million children have already enrolled in Trump Accounts, 86 percent of whom are from families earning less than $200,000. Financial markets are now personally meaningful to an entirely new class of shareholders. And that experience will be reinforced by fifteen learning modules tailored to each age group. As financial products and services continue to evolve, Trump Accounts will ensure that financial education evolves with them.
This past filing season, millions of American families and workers claimed expanded tax deductions and credits tied directly to wages, children, overtime, tips, and earned income. @POTUS’ signature @TaxCuts delivered substantial relief to hardworking Americans and provided greater relief and tax certainty to low- and middle-income households. t.co/ob5guH99t0
Every dollar stolen from Federal student aid is a dollar taken from taxpayers and deserving students. The Trump Administration will not tolerate criminals who exploit government programs for personal gain. Treasury is working with financial institutions and law enforcement to identify these fraud schemes, recover stolen funds, and hold those responsible accountable.
The Iranian regime continues to pay a steep economic price for its reckless behavior, with the rial plunging to another record low and inflation up massively. Under @POTUS’ leadership, Treasury will continue cutting off economic access for corrupt Iranian regime elites, along with their financiers and facilitators.
This week, I convened the inaugural meeting of Treasury’s Payment Fraud and Scams Working Group in collaboration with @BrendanCarrFCC, @FTC Chairman Andrew Ferguson, and @federalreserve Vice Chair for Supervision Michelle Bowman. Treasury is leading a comprehensive effort to combat these crimes by bringing together leaders across the financial services, telecommunications, and technology industries, and using every tool at our collective disposal to expose scammers, disrupt their networks, protect consumers, and hold criminals accountable.
Public money and tax-exempt status demand public accountability. Great to see @WaysandMeansGOP, @RepJasonSmith, and @RepSmucker take the lead with legislation that complements Treasury’s work to improve transparency, strengthen tax administration, and provide clearer reporting on certain activities of tax-exempt organizations. We are taking action to prevent nonprofit status from being used to enable or conceal fraud, abuse, and illegal extremist activity.
Public money and tax-exempt status demand public accountability. Great to see @WaysandMeansGOP, @RepJasonSmith, and @RepSmucker take the lead with legislation that complements Treasury’s work to improve transparency, strengthen tax administration, and provide clearer reporting on certain activities of tax-exempt organizations. We are taking action to prevent nonprofit status from being used to enable or conceal fraud, abuse, and illegal extremist activity.
.@POTUS has made clear that terrorist cartels will be dismantled. Today's action strikes Cartel de Jalisco Nueva Generacion's leadership, financiers, and criminal networks, denying the cartel the resources it uses to traffic fentanyl, terrorize communities, and threaten American lives.
The Trump Administration will relentlessly pursue terrorists and those who finance them. Whether operating under the guise of charities, businesses, or underground financial networks, those who enable Hamas will be exposed, sanctioned, and held accountable. x.com/USTreasury/sta…
We support open-source AI and the innovation it unlocks. But open source is not open season on American IP. When PRC firms conduct covert, industrial-scale distillation attacks that cross the line into IP theft, sanctions and Entity List designations will be on the table.
Yesterday, I met with Pakistan's Federal Minister for Finance and Revenue Muhammad Aurangzeb. I welcomed Pakistan's progress in restoring macroeconomic stability and advancing key economic reforms. We discussed the importance of sustaining this reform momentum to promote durable growth, strengthen economic self-reliance, and help position Pakistan for a successful return to international capital markets.
Read more: home.treasury.gov/news/press-rel…
Tax rules should reward investment, not abusive financial engineering. @USTreasury welcomes innovation in our financial markets, but we will not turn a blind eye to abusive Wall Street tax dodges or tolerate products designed to exploit our federal tax code. If a tax pitch sounds too good to be true, then it probably is and investors should think twice. Treasury and the @IRSnews are examining Wall Street tax products that may exploit the tax code and tax strategies that may cross the line.
Last week, I met with Colombia’s Vice President-elect @jrestrp and congratulated him and President-Elect Abelardo De La Espriella on their victory. The Trump Administration is committed to a strong U.S.-Colombia partnership, and @USTreasury looks forward to working with the incoming administration to advance pro-growth policies, combat corruption and narcoterrorism, attract investment, and work with international financial institutions to support Colombia’s economic recovery and long-term prosperity. A thriving Colombia benefits the United States, the Western Hemisphere, and the world.
Treasury has delivered on a key promise of @POTUS' mandate to stop improper payments and fraud before money leaves the Treasury and strengthen the integrity of the federal payment system. Together with the @VP’s Task Force to Eliminate Fraud, this new safeguard addresses a longstanding vulnerability and helps ensure every dollar the federal government spends reaches its intended recipient. Treasury will continue efforts to modernize the federal payment system, strengthen safeguards against fraud and improper payments, and protect taxpayer dollars.
.@dto_rok is not only a great patriot, but an exceptional photographer. His portrait of @POTUS will now be immortalized on the new $1 coin—a lasting tribute to a President who always puts America First. Thank you, Daniel, for helping to capture this historic moment. x.com/dto_rok/status…
Thank you, @POTUS, for standing up for free and fair elections. Americans deserve confidence in the integrity of our elections, and that is vital for our country. x.com/WhiteHouse/sta…
Far-left ideologue @SenWarren is trying to discredit a fresh review of the Fed’s SVB supervisory 2022 failures before it has even begun, no doubt to protect her sock puppets Michael Barr and Lael Brainard. Sunlight is said to be the best of disinfectants. Americans deserve a full accounting of what regulators missed, whether earlier reviews were adequate, and who should be held accountable. The Biden-Warren economy was a disaster, and the American people deserve the facts.
At President Trump’s direction, @USTreasury is bringing the full weight of our authorities to defend the integrity of the U.S. and global financial systems. We will identify illicit funding, however artfully it is concealed. We will dismantle the networks that sustain political terrorism, however respectable their fronts may be. We will pursue those who enable political violence, however distant their jurisdictions.
.@POTUS has been clear that Iran must denuclearize. Treasury will continue to target and disrupt the illicit procurement networks that fund Iran’s weapons programs and war machine. x.com/USTreasury/sta…
As America commemorates 250 years of independence, the @usmint will begin striking this new $1 gold coin to honor the enduring legacy of liberty and a lasting symbol of patriotism. Featuring President Trump, it celebrates the strength of American values, and the promise of a nation dedicated to preserving freedom for all.
.@USTreasury is committed to disrupting and degrading Iran’s illicit financial activities, including its abuse of digital assets. Today, Treasury’s Office of Foreign Assets Control sanctioned multiple wallets tied to the Central Bank of Iran, resulting in the freeze of over $130 million. We will continue to aggressively follow the money and deny the Iranian regime access to the proceeds of its illicit revenue schemes.
The Iranian regime survives on deception, and the Shamkhani network is one of its most profitable engines. Treasury is shutting down the financial infrastructure that allows the regime to continue its threats to U.S. national security and global shipping. x.com/USTreasury/sta…
As a South Carolina native, I can think of no more fitting tribute to Lindsey Graham's legacy of service to our state and our nation than seeing his beloved sister carry it forward. Darline has always been at her brother’s side and I know she will be an outstanding interim Senator. The U.S. Treasury will do everything possible to support her and her staff as they work on the President’s agenda and continue to provide strong constituent services for the great people of South Carolina.
Senator Lindsey Graham was a great American and Patriot. He was a dedicated public servant who never stopped fighting for the Palmetto State and all Americans. As a Senator he worked tirelessly for our country. It was an honor to call him my friend. And work with him to advance President Trump's agenda at home and on the international stage. Lindsey was a one-of-a-kind politician who could speak at length on both global defense policy and South Carolina kitchen table issues. He will be missed across our state, country and the entire globe. My prayers are with his sister and extended family during this difficult time.
The so-called Supreme Leader is hiding in seclusion while his regime crumbles. Treasury will continue using every tool at its disposal to isolate him and other regime elites from the global financial system. We will preserve these assets for the Iranian people. x.com/USTreasury/sta…
It was an honor to join the official unveiling of the President Donald J. Trump Bridge along Interstate 40 in Dandridge, Tennessee with @MarshaBlackburn, @timburchett, @RepFaison, and members of the Trump family, including Elizabeth and Ann Marie. When Tennesseans sent @POTUS back to Washington with the largest mandate in state history, they knew the promise of his pro-growth agenda because its principles have driven people there in droves. In many ways, Tennessee embodies the best of what President Trump is building nationally as we place American workers, manufacturers, and families back at the core of our policies where they belong.
The American Dream belongs to every child. Today, we are equipping the next generation to claim their rightful share. Thanks to @POTUS, eligible families can now access @TrumpAccounts. Visit t.co/PEeRkzlkD1 and download the official Trump Accounts app to help your child jumpstart his or her financial future.
On this day, July 5, 1865, the @SecretService was established under @USTreasury to protect the integrity of our nation’s financial system. Yesterday, they once again demonstrated their professionalism, safely evacuating attendees and welcoming everyone back for @POTUS' remarks and the fireworks. Thank you to the United States Secret Service and all law enforcement officers who keep America safe.
Under President Trump’s leadership, we are on a path toward unprecedented economic growth, lasting dollar dominance, and fiscal strength and stability. There is no more powerful way to recognize the historic achievements of our great country and President Donald J. Trump than U.S dollar bills bearing his signature, and it is only appropriate that this historic currency be issued at the Semiquincentennial.
.@TrumpAccounts are now live, giving every child a stake in the American Dream from day one thanks to @POTUS. The Trump Accounts app is now updated with the full suite of account capabilities: you can start funding your child’s account, exploring financial education modules, and more. Visit t.co/PEeRkzlkD1 and download the official Trump Accounts app to access your child’s account before markets open on Monday.
Press Release: home.treasury.gov/news/press-rel…
Two hundred and fifty years ago, a band of patriots gathered in Philadelphia and changed the course of history. What followed was eight years of war, sacrifice, and an unshakable belief that liberty was worth fighting for. Against all odds, they defeated the greatest empire on earth and founded a republic unlike any before it. Their courage secured the blessings of liberty for generations of Americans. Today, we celebrate 250 years of American Independence. As @POTUS has said, the best is yet to come. Happy Independence Day, and God bless the United States of America.
One year ago, @POTUS signed the Working Families @TaxCuts into law and it took only a single tax season for American families and workers to overwhelmingly benefit from lower taxes, bigger refunds, and increased take home pay. As promised, President Trump and the unity of a Republican majority in Washington delivered this landmark legislation that codifies the America First agenda and lays the foundation for a new era of American prosperity.
As we approach America’s 250th anniversary, our national prosperity remains rooted in the enduring principles of faith, family, liberty, and opportunity. Under @POTUS' leadership, we are strengthening the economic future for workers and families across America. At this year’s annual Road to Majority Conference hosted by the @FaithandFreedom Coalition, @RalphReed and I discussed President Trump’s growth-focused economic agenda, including the historic Working Families Tax Cuts, @TrumpAccounts, and much more.
