Tag Archives: Department of the Treasury

‘Insane and Pathological’: Head of Iran’s Central Bank Says US Blocking Covid-19 Vaccine Purchases

The Trump administration is allegedly using sanctions to thwart Iran’s efforts to obtain vaccine stock through the WHO’s COVAX program.

By Brett Wilkins, staff writer for Common Dreams. Published 12-7-2020

Coronavirus patients at the Imam Khomeini Hospital in Tehran, Iran in March 2020. Photo: Fars News Agency, CC BY 4.0

The head of Iran’s central bank on Monday accused the U.S. government of actively blocking the country from purchasing stocks of coronavirus vaccine through the World Health Organization’s COVAX program.

Al Jazeera reports Abdolnasser Hemmati said on Instagram that it should be “recorded in historical memory” that crippling U.S.-led sanctions against the Islamic Republic are preventing the country from buying vaccines against the potentially deadly virus through COVAX, the WHO-led global initiative to fast-track development, production, and equitable worldwide distribution of a coronavirus vaccine. Continue reading

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With Rent Freezes About to Expire, Mnuchin Lobbies for More Wall Street Bailouts

As millions of Americans stand on the brink of economic annihilation, the money keeps flowing to Wall Street thanks to carefully contrived mechanisms to maintain a dying financial system afloat.

By Raul Diego  Published 12-4-2020 by MintPress News

Steven Mnuchin. Photo: White House

Many prophetic scenes depicted in a series of Mayan codices written in the early days of the Spanish colony, and translated and compiled in El Libro de los Libros del Chilam Balam, describe a world foreign to its original authors. But, one which was barreling down on them and their civilization even as the Mayan high priests recorded their visions for each stop on their cyclical calendar system.

The metaphors they leaned on to describe these new Western values and systems were accurate, despite having nothing comparable in their own cosmology or parallels in their relationship with the earth. In one of the most striking prophecies, the interpreting shaman warns of the days of “the golden club,” subtly alluding to the new paradigm of wealth and commercial imperatives being imposed on their world. Continue reading

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Exposing Trump’s Payroll Tax Deferral as ‘Wage Theft,’ Treasury Signals Millions of Workers Will Earn Less in 2021 Under Plan

“Like Donald Trump’s other economic executive orders, this will not provide actual relief to workers.”

By Julia Conley, staff writer for Common Dreams. Published 8-29-2020

Photo: skeeze from Pixabay

Days after the payroll processor for the federal government—one of the nation’s largest employers—announced it would implement President Donald Trump’s plan to defer payroll taxes for the rest of 2020, the U.S. Treasury Department indicated that employers will be responsible for paying the deferred taxes next year.

The plan is scheduled to go into effect September 1, and companies that take part will be required to collect the taxes their employees owe from the last four months of this year at the beginning of 2021—after the general election, which Trump hopes to win with claims that he’s strengthened the economy and helped workers. Continue reading

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‘Just Comes Out and Says It’: Trump Declares Postal Service Can’t Handle Mail-In Voting Because He’s Blocking Funding

“This is crazy by any standard. The president of the United States is actively trying to sabotage the election.”

By Jake Johnson, staff writer for Common Dreams. Published 8-13-2020

President Donald Trump answers a reporter’s question during a news conference Wednesday, Aug. 12, 2020. Photo: White House/flickr

President Donald Trump proclaimed Wednesday that the U.S. Postal Service doesn’t have the capacity to handle an unprecedented increase in mail-in ballots because it lacks funds that his administration is blocking, remarks that were immediately viewed as an open admission of election sabotage by a president who has previously called USPS “a joke.”

During his daily Covid-19 briefing Wednesday evening, Trump dismissed Democratic congressional leaders’ demands for $3.5 billion in election assistance for states and $25 billion for USPS as “ridiculous” and vowed to continue blocking the funds. While USPS leadership insists it has “ample capacity” to meet election needs, postal workers have warned that without emergency funding, the agency could struggle to deliver mail-in ballots on time in November. Continue reading

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‘The Public Has a Right to Know’: Fed Refuses to Release Documents on Fossil Fuel Industry’s Covid-19 Bailouts

“As the climate crisis demands an abrupt shift away from fossil fuels, the federal government should not be creating programs to bail out these polluters.”

By Jake Johnson, staff writer for Common Dreams. Published 7-9-2020

“The Federal Reserve was tasked with creating a massive program to protect workers’ livelihoods during an intense economic and public health crisis. We should, at the very least, expect transparency about how the program is structured,” said Food & Water Action attorney Adam Carlesco. (Photo: Tony Webster/Flickr/cc)

The Federal Reserve has missed a deadline to release documents requested by environmental group Food & Water Action in May to reveal the extent to which the central bank has used one of its major Covid-19 lending programs to rescue the faltering oil and gas industry.

“The public has a right to know if the Fed created an oil and gas bailout at the behest of an industry that has wreaked havoc on our air, water, climate, and potentially the global financial system,” Food & Water Action attorney Adam Carlesco said in a statement. “As the climate crisis demands an abrupt shift away from fossil fuels, the federal government should not be creating programs to bail out these polluters.” Continue reading

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Should the president pick the attorney general?

William Barr walks through Lafayette Park before demonstrators were cleared by federal police on June 1, 2020. Joshua Roberts/Getty Images

Joshua Holzer, Westminster College

Attorney General William Barr recently announced, late on a Friday, that Geoffrey Berman was “stepping down after two-and-a-half years of service as United States Attorney for the Southern District of New York.”

This announcement was news to Berman, who later contradicted Barr by declaring that he had not resigned and indeed had no intention of resigning. Barr then contradicted himself by informing Berman that since he had refused to resign, he had instead been fired. Continue reading

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‘Free Handout to Insurance Industry’: Trump Administration Tells Insurers They Don’t Have to Cover Covid-19 Tests for Workers

“According to the Trump administration, insurance company profits are more important than the lives of nursing home residents and workers.”

By Jake Johnson, staff writer for Common Dreams. Published 6-25-2020

Coronavirus Task Force press briefing – March 2, 2020. Photo: White House/flickr

The Trump administration issued policy guidance this week telling health insurance companies that they are not required by law to cover the Covid-19 tests employers may compel workers to undergo as a condition for returning to their jobs.

The announcement (pdf) Tuesday by the Departments of Treasury, Labor, and Health and Human Services alarmed healthcare advocates and lawmakers who warned the move gives profitable insurers a green light to push the costs of potentially expensive coronavirus screenings onto workers. Continue reading

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‘Speaking of Looting…’: Trump Admin. Refuses to Disclose Corporate Recipients of $500 Billion in Coronavirus Bailout Funds

“This is outrageous AND exactly what was obviously going to happen AND exactly why many of us opposed CARES as written.”

By Jessica Corbett, staff writer for Common Dreams. Published 6-11-2020

Steve Mnuchin. Screenshot: CNN

Progressive critics and advocacy groups are responding with alarm and anger to the Trump administration’s refusal to disclose the names of more than 4.5 million companies that have collectively received over $500 billion in corporate bailout money through a federal program created to provide businesses with relief from the coronavirus pandemic.

The over $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act signed by President Donald Trump in March established the Paycheck Protection Program (PPP) with $349 billion in funding for forgivable loans. After the initial capital ran out in just 13 days, lawmakers approved $310 billion more—though over $130 billion of that amount was still left as of Tuesday. Continue reading

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GOP ‘Plot to Gut Social Security Behind Closed Doors’ Gains Steam in Senate Covid-19 Talks

“With seniors most at risk from Covid-19, we need to be increasing Social Security’s modest benefits, not creating secret commissions to cut them.”

By Jake Johnson, staff writer for Common Dreams. Published 5-23-2020

Photo: Tony Alter/flickr/CC

A proposal by Sen. Mitt Romney to establish congressional committees with the specific goal of crafting legislative “solutions” for America’s federal trust fund programs has reportedly resurfaced in GOP talks over the next Covid-19 stimulus package, sparking alarm among progressive advocates who warn the Utah Republican’s bill is nothing but a stealth attack on Social Security and Medicare.

Politico‘s Burgess Everett reported Wednesday that Romney’s TRUST Act, first introduced last October with the backing of a bipartisan group of senators, “is getting a positive reception from Senate Republicans” in coronavirus relief discussions, which are still in their early stages. The legislation, Everett noted, “could become part of the mix” for the next Covid-19 stimulus as Republicans once again claim to be concerned about the growing budget deficit. Continue reading

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‘Lining Up at the Trough’: Federal Reserve to Offer Corporations $500 Billion No-Strings-Attached Bailout Loophole

“Big corporations have shown time and again that they will put their shareholders and executives ahead of their workers if given the choice.”

By Julia Conley, staff writer for Common Dreams. Published 4-28-2020

Through the Primary Market Corporate Credit Facility, the Fed will provide $500 billion to companies by buying bonds, but the companies will not be required to retain employees or limit executive pay. (Photo: Public Domain)

A Federal Reserve program approved by Congress and aimed at providing emergency relief to large companies contains a “catch” which will permit the corporations to lay off employees and spend the money on executive pay, according to a Washington Post report.

Through the Primary Market Corporate Credit Facility, the Fed will provide $500 billion to companies by buying bonds. The corporations will be required to pay the Fed back with interest. Continue reading

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