The tax relief

The Treasury Department on Wednesday announced an office to oversee COVID-19 relief programs approved in multiple bills since last year that totaled trillions of dollars. “A new, cohesive model for recovery program implementation at Treasury will help get relief distributed quickly and into the hands of those who need it most,” said Deputy Secretary Wally Adeyemo Wally Adeyemo On The Money: Social Security gives IRS data for COVID-19 relief checks | Senate passes bill heading off Medicare cuts Senate confirms Adeyemo as deputy Treasury secretary Warren presses Yellen to ramp up BlackRock oversight MORE . “Already we are getting individual payments out the door faster and in greater volume than ever before. We hope to continue this improved delivery, while also supporting outreach between Treasury and important stakeholders across the country," he added. ADVERTISEMENT The Office of Recovery Programs will be led by Chief Recovery Officer Jacob … [Read more...] about Treasury announces COVID-19 relief oversight office

The U.S. Department of Treasury has sent out two million more direct payments that stemmed from the coronavirus relief bill, it announced Wednesday. This is the fifth batch of payments that have come from the Treasury since the passage of the bill. “Today’s announcement brings the total disbursed so far to approximately 159 million payments, with a total value of more than $376 billion, since these payments began rolling out to Americans in batches as announced on March 12,” the Treasury announced . ADVERTISEMENT The 2 million direct payments equal more than $3.4 billion coming from the treasury in this batch. Almost half of the payments went to individuals who recently filed their tax returns. The Treasury has been sending out payments each week that started March 12 and will continue until all eligible adults get the payment. In this batch, 1.2 million direct payments were directly deposited in a person’s account and 800,000 paper checks were … [Read more...] about Treasury sends out 2 million more direct payments from coronavirus relief bill

London (CNN Business) One of France's biggest export industries is facing a devastating blow after an unusually severe frost earlier this month damaged vineyards across the country, heaping pain on winemakers already reeling from the pandemic and US tariffs . The frost has affected 80% of vineyards in France's primary wine growing areas, according to the European Committee of Wine Companies. "This is expected to cause a yield loss ranging from 25% to up to 50% in some regions," the trade body told CNN Business on Wednesday. The destruction spread across the Rhone Valley, Bordeaux, Burgundy, Champagne, Provence and the Loire Valley, said Anne Colombo, president of the Cornas appellation, a wine-growing area in the Rhone region. "In some regions there will be very, very few grapes [this year]," she said, adding that the frost in Cornas is the worst in more than half a century. Winemakers tried to keep air temperatures up by lighting candles and … [Read more...] about ‘It’s a tragedy.’ French winemakers face devastation after worst weather in 30 years

Democrats are welcoming the IRS’s announcement that it’s on track to start making monthly payments of the child tax credit in July, a step that could help their effort to make the expansion of the credit in President Biden Joe Biden IRS to roll out payments for ,000 child tax credit in July Capitol Police told not to use most aggressive tactics in riot response, report finds Biden to accompany first lady to appointment for 'common medical procedure' MORE ’s relief law permanent. Biden’s coronavirus relief law, enacted in March, directs the IRS to issue advance payments of the credit on a periodic basis, so that families receive money in installments throughout the year rather than in a single payment after they file their tax returns. IRS Commissioner Charles Rettig said at a Senate Finance Committee hearing Tuesday that he expects the agency to be able to start making payments in July, as the relief law prescribes, and on a monthly basis, as Democrats had … [Read more...] about Democrats get good news from IRS

President Biden Joe Biden IRS to roll out payments for ,000 child tax credit in July Capitol Police told not to use most aggressive tactics in riot response, report finds Biden to accompany first lady to appointment for 'common medical procedure' MORE is trying to show he’s open to bipartisan deal-making on his infrastructure proposal, but he’ll have to address divisions in his own party first. Democrats are already at odds over the size of the sprawling package, how to pay for it and what should be included. Here are five hurdles Democrats face in getting a bill to Biden’s desk. ADVERTISEMENT How long to wait for bipartisanship Biden promised to work with Republicans legislatively during his 2020 campaign, and on Monday he hosted a bipartisan group of lawmakers at the White House to talk about the infrastructure plan. The outreach effort is being hailed by moderate Democrats who face pressure to be, or at least appear, bipartisan in crafting … [Read more...] about Five hurdles Democrats face to pass an infrastructure bill