U.S. Department of the Treasury

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.

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.

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.

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.

Today, the Senate confirmed Francis Brooke Jr. as Deputy Secretary, Erin Browne as Under Secretary, and S.P. Kothari and G. Hunter McMaster II as Assistant Secretaries of the Treasury. Congratulations to all four of these accomplished officials and their families. Treasury looks forward to their continued leadership in advancing President Trump's pro-growth agenda for the American people.

Today, Treasury’s Office of Foreign Assets Control is moving against digital asset exchanges that the Iranian regime relies on to launder billions of dollars, maintain covert access to international financial systems, and support the Islamic Revolutionary Guard Corps, among other terrorist groups.  This action targets two major digital asset exchanges used by Tehran, along with the ringleader of a network of front companies.

Today, Treasury’s Office of Foreign Assets Control took action against multiple networks spanning several countries for enabling Iran’s rahbar banking system to move hundreds of millions of dollars. Iran is desperate for foreign currency, and to make matters worse for the regime, it is losing substantial sums to corruption and mismanagement within the shadow banking system.

Today, @FinCENnews renewed a Geographic Targeting Order designed to combat fraud in Minnesota and protect U.S. taxpayers.  Extensive schemes have fraudulently diverted state and Federal dollars meant for people who lack housing, are food insecure, have disabilities, or are otherwise eligible to receive government benefits, costing the state of Minnesota potentially billions of dollars, a portion of which has been laundered overseas.  The renewed Order will continue to support law enforcement in holding fraudsters accountable.

Under President Trump, lower-wage workers are seeing the biggest earnings growth right now—more than three times greater than those at the top.