U.S. Department of the Treasury

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.

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.

Today, @FinCENnews issued an Alert urging financial institutions to detect, prevent, and report suspicious activity connected to fraud schemes targeting student aid programs administered by the Federal government. The schemes not only result in losses to Federal student aid programs, but in some cases, real students face difficulties enrolling in classes because of the number of fraudulently enrolled “students.”

Today, Treasury’s Office of Foreign Assets Control designated four individuals and nine entities that form key components of Babak Zanjani broader Iranian sanctions evasion network. Zanjani has leveraged a diverse portfolio to obscure ownership, launder revenue, and expand his capacity to move funds covertly through Iran and offshore.

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.

.@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.

Today, in a sweeping action to confront narcoterrorism, Treasury’s Office of Foreign Assets Control sanctioned over 50 Mexican individuals and entities linked to the terrorist Cartel de Jalisco Nueva Generacion, which is responsible for a significant proportion of fentanyl and other deadly drugs trafficked into the United States.

Today, Treasury’s Office of Foreign Assets Control designated a senior Egyptian Muslim Brotherhood official, along with several targets that have provided material support to Hamas, an offshoot of the Muslim Brotherhood. Two of the designated entities are sham charities tied to the Muslim Brotherhood that funneled substantial funding to Hamas’s military wing, even as the terrorist organization continues to obstruct a peaceful resolution in Gaza.

.@PressSec: A little more than a year after President Trump signed the Working Families Tax Cuts into law, this historic legislation continues to deliver on its promise, unleashing a genuine boom for American workers, families, and small businesses. The numbers speak for themselves. This was the biggest tax refund season in American history with the average refund exceeding $3,400, an 11% increase over the last year. American families and workers claimed $82 billion in direct tax relief and 97% of filers received a tax cut. More than 29 million workers claimed No Tax on Overtime. More than 35 million seniors claimed No Tax on Social Security, and nearly eight million workers claimed No Tax on Tips. Thanks to the other pro-growth provisions in the Working Families Tax Cuts, like making the 20% small business tax deduction permanent and delivering 100% expensing for new factories, equipment and research, the Trump administration is setting up American manufacturers and workers to thrive like never before.

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.

.@SecScottBessent on @TrumpAccounts at Wheeler High School in Marietta, Georgia: @POTUS' most enduring legacy may be the reason we are here today. Trump Accounts represent the most successful program launch in government history, with more than 6 million signups before it even went live. Every child born during the President’s term can get a stake in the American Dream from day one with a $1,000 seed investment from the U.S. Treasury. And do not listen to the Democrats when they claim that this is a program for the rich. Eighty-six percent of enrolled children are from families earning less than $200,000. Trump Accounts are reaching the very people they were designed to serve.