Ohio Attorney General Dave Yost says Congress crossed a line and U.S. Treasury Secretary Janet Yellen struggles to explain whether states retain authority to set their own tax codes if they accept money from the recently passed American Rescue Plan.
Yost responded Thursday with a motion in support of his lawsuit for a temporary restraining order to stop the federal government’s tax mandate in the ARP. Yost believes the mandate holds states hostage and takes away Ohio’s control of its tax structure and economic policy.
“Congress crosses the line separating permissible encouragement from impermissible,” Yost’s latest motion reads. “Ohio stands to receive $5.5 billion. In the pandemic-caused economic crisis, Ohio cannot realistically turn that down.” Read More
Georgia Attorney General Chris Carr is among 21 state attorneys general calling on the U.S. Department of Treasury to secure states’ rights to implement tax policies under the American Rescue Plan Act.
The attorneys general sent a letter this week to Treasury Secretary Janet Yellen, asking her to confirm that provisions in the act do not attempt to strip states of their sovereign authority. They argue language in the act is too broad and could be interpreted as a blanket policy. Read More
President-elect Joe Biden is expected to name former Federal Reserve Chairwoman Janet Yellen for secretary of the Department of the Treasury, The Wall Street Journal first reported Monday.
Yellen, 74, who was the first woman to serve as Federal Reserve chair after she was confirmed by the Senate in 2014, would be the first woman to head the Treasury Department, according to CNBC. Yellen is widely considered to be a “safe” pick with a high likelihood of confirmation by a closely divided Senate. Read More
President Donald Trump is expected to announce his choice to lead the Federal Reserve on Thursday, a US official said Monday. Trump said last week he had “somebody very specific in mind. I think everybody will be very impressed.” He has not publicly ruled out re-nominating current Fed Chair Janet… Read More
The moribund inflation seen in the world’s largest economy over the last year is a “mystery,” a “surprise” and a “concern” all at once, in the words of US central bank chief Janet Yellen. And the dilemma — why price pressures have not picked up despite nearly a decade’s worth… Read More
President Donald Trump says he is “very close” to picking a person for the most important economic post in the United States, the head of the Federal Reserve. Current Chair Janet Yellen’s term expires early next year and she is one of at least five candidates for the job. Besides… Read More
President Donald Trump indicated Friday he would select his nominee to be the next Federal Reserve chair within weeks, after meeting potential candidates. Trump said he would decide who chairs the US central bank, after interviewing Kevin Warsh, Jerome Powell and two other candidates. “I’ve had four meetings” Trump said… Read More