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Jack Lew

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  • WASHINGTON— Treasury Secretary Jacob Lew dismissed efforts in Congress to overhaul the nation's tax laws by lowering the top income tax rate paid by individuals, saying lawmakers should instead focus on simplifying taxes paid by businesses. "I don't think that there's any advantage in pretending that there aren't big disagreements on the individual tax...

  • Members of the Financial Stability Oversight Council voiced support for changes recommended in a staff report including notifying companies earlier in the process that they could be designated, a step that would give them more time to challenge the designation. The council did not take any final action but members including Treasury Secretary Jacob Lew...

  • WASHINGTON— Treasury Secretary Jacob Lew dismissed efforts in Congress to overhaul the nation's tax laws by lowering the top income tax rate paid by individuals, saying Wednesday that Democrats and Republicans are too far apart to forge such a sweeping package. Instead, Lew said, lawmakers should focus on simplifying taxes paid by businesses, an approach that...

  • DIARY- Top Economic Events to Feb 3 Tuesday, 20 Jan 2015 | 7:01 PM ET

    Treasury Secretary Jacob Lew will preside over an open session of the Financial Stability Oversight Council at the Treasury Department. WASHINGTON- Federal Reserve chair Janet Yellen participates in open session of the Financial Stability Oversight Council meeting- 1930 GMT. LONDON- Bank of England will release the minutes from its January policy meeting-...

  • Davos '15: Gates, Soros, Pharrell to tackle crises Tuesday, 20 Jan 2015 | 11:28 AM ET
    An armed member of the Swiss Police watches from the roof of the Hotel Davos ahead of the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, Jan. 20, 2015.

    Back on this week, the World Economic Forum in Davos is as big as ever with lofty ambitions to match.

  • DIARY- Top Economic Events to Jan 30 Friday, 16 Jan 2015 | 7:00 PM ET

    ATLANTA, United States- Federal Reserve Bank of Atlanta President Dennis Lockhart gives welcome remarks and speaks on " Federal Reserve Bank of Atlanta's CED Programs and Financial Literacy Programs" before the HOPE Global Forum- 1350 GMT. DUBLIN- The Central Bank of Ireland, Center for Economic Policy Research and International Monetary Fund are organizing a...

  • WASHINGTON, Jan 15- The United States rolled out a sweeping set of measures on Thursday to significantly ease sanctions on Cuba, opening up the country to expanded U.S. travel, trade and financial activities. The 54- year-old U.S. embargo on Cuba will remain in place- only Congress can lift it. Congressional critics of Obama's shift say that Washington should not be...

  • UPDATE 2-U.S. rolls out new Cuba rules on trade, travel Thursday, 15 Jan 2015 | 10:42 AM ET

    WASHINGTON, Jan 15- The United States rolled out a sweeping set of measures on Thursday to significantly ease the half-century-old embargo against Cuba, opening up the country to expanded travel, trade and financial activities. The Treasury and Commerce Departments issued a package of new rules that will allow U.S. exports of telecommunications,...

  • UPDATE 1-U.S. takes first steps to ease Cuba embargo Thursday, 15 Jan 2015 | 9:34 AM ET

    WASHINGTON, Jan 15- The United States rolled out a sweeping set of measures on Thursday to ease the half-century-old embargo against Cuba, opening up the country to expanded travel, trade and financial activities. The Treasury and Commerce Departments issued a package of new rules that will allow U.S. exports of telecommunications, agricultural and...

  • Moving swiftly, US eases travel and trade rules on Cuba Thursday, 15 Jan 2015 | 9:15 AM ET

    WASHINGTON— Swiftly expanding trade ties with Cuba, the Obama administration opened the door to easier travel and a wide range of new export opportunities with the communist island starting Friday, punching the biggest hole to date in America's half-century-old embargo. Less than a month after the Cold War foes agreed to end their enmity, the Commerce and...

  • WASHINGTON— The head of the U.S. Chamber of Commerce said Wednesday that U.S. efforts to restore diplomatic ties with Cuba and ease curbs on trade presents American companies with "extraordinary opportunities" to boost business by selling everything from cars to computers. Chamber president and chief executive Thomas Donohue said President Barack Obama's...

  • Progressive Democrats and the 2016 conundrum Tuesday, 13 Jan 2015 | 11:49 AM ET
    Elizabeth Warren and Antonio Weiss

    Sen. Elizabeth Warren's knockout of Treasury nominee Antonio Weiss carries consequences for the 2016 general election, Politico's Ben White says.

  • New tax forms to fill out on health insurance coverage Tuesday, 13 Jan 2015 | 9:20 AM ET

    WASHINGTON— Be prepared for the tax man to get even more personal this year— with questions about your health insurance. For the first time, you'll have to state whether you had health insurance, through an employer, one of the exchanges or purchased privately. "I see deer-in-the-headlights looks," said Dave Duval, TaxAudit.com' s vice president of consumer advocacy.

  • WASHINGTON— President Barack Obama's signature health care law will bring a new twist to tax-filing in 2015, a year in which much else will seem familiar when you're working on your return. But what could have been a stunner— the expiration of a series of popular tax breaks— was forestalled by Congress in a last-minute move before it adjourned last month.

  • Treasury sells entire Ally stake, ends auto rescue Friday, 19 Dec 2014 | 10:29 AM ET
    In this April 10, 2014 file photo, Ally Financial CEO Michael Carpenter, third from right, is applauded as he rings the New York Stock Exchange opening bell to mark his company's IPO.

    The U.S. Treasury is winding down its auto industry recovery program by selling the last of its stake in Ally Financial.

  • How life insurers are avoiding up to $100B in taxes Friday, 12 Dec 2014 | 3:44 PM ET
    The Internal Revenue Service headquarters is shown in Washington, April 9, 2014.

    Life insurers are avoiding taxes without leaving the country, saving as much as $100 billion in federal taxes, the NYT reports.

  • Winners & losers: Oil's effect around the globe Thursday, 11 Dec 2014 | 2:03 PM ET
    People gather to watch the Royal Dutch Shell Plc Olympus tension leg platform (TLP) set sail from Kiewit Offshore Services in Port Aransas, Texas.

    For most of the world, the tailwind of lower oil prices helps push the pace of growth. But not for everybody.

  • 'Perfect storm' pressures Russian economy: Lew  Thursday, 11 Dec 2014 | 8:47 AM ET

    CNBC's Andrew Ross Sorkin sits and Treasury Secretary Jack Lew discuss Russia's oil woes amid U.S. sanctions.

  • Lower oil prices like tax cut: Sec. Lew  Thursday, 11 Dec 2014 | 8:44 AM ET

    CNBC's Andrew Ross Sorkin sits down with Treasury Secretary Jack Lew to discuss how the drop in oil prices is impacting the economy. When you look at the oil sector you need to look at it in two parts - shale and traditional drilling. Also Lew shares his thoughts on President Obama's clean energy initiatives.

  • In a move that sets up another round of debate over the extenders in 2015, senior Republicans said a short-term extension would be approved for the package, with the House of Representatives acting as soon as this week. The Obama administration weighed in, with Treasury Secretary Jacob Lew meeting with congressional Democrats and saying in a statement that...