On Tuesday, President Donald Trump signed two executives forcing the Treasury Ministry to move quickly to update how the federal government moved money.
Applications require the use of electronic payments “whenever possible” and delivery of full payment processing duties to the treasury to stop fraud and tighten control. This happened in the White House, where Trump said, “We are doing this, and we have other continuous updates … These are steps that should have occurred decades ago.”
According to the official government InformationMost federal payments already pass through direct deposit, but paper checks are still used in some areas. Trump wants to close it.
This is part of a wider batch to remove old systems and keep people from stealing money during the payment process. His management believes to standardize payment processing under one agency – Treasury – is the only way to fix it.
Doge can be reached to the treasury system amid a legal violent reaction
Since the first year of Trump’s second state, members of the Ministry of Governmental efficiency in Elon Musk (DOGE) has received a full arrival in the treasury database. The move sparked heat due to the potential privacy violations and raised many of the still active cases. But those close to the Trump team are arguing that arrival was necessary to track the financial leaks and corruption that had been hidden in clear systems.
The pressure for the complete digitization did not come out of nothingness. The federal government was working for years to abandon the mail checks in favor of digital methods to provide things such as social security payments, food stamps, tax recovery and other expenses. The Tax Authority confirmed that in this tax season alone, out of 163 billion dollars in the recovered amounts, 160.9 billion dollars – 99 % nearly – was sent by direct deposit.
The Treasury also wants to increase the exchange rate of the taxes that are not associated with the tax. They set a 98.4 % goal by 2025, up from 98.2 % in 2023. These numbers may seem small, but the Trump administration focuses on eliminating the past few gaps that allow physical checks.
Meanwhile, Treasury Secretary Scott Payet made his full -time job in a 10 -year decrease in bond returns. It continues to repeat the same message through speeches, television interviews and private conversations: the administration wants to remain yield. Some of this comes with the job – fallen borrowing costs help the government spend more – but the mania has so far gone that Wall Street has begun to convert its predictions for 2025 because of it.
In the last two weeks, all first -class analysts have dropped in Barclays, Royal Bank of Canada, and Societe Genereale expectations of bond returns at the end of the year. They said that the reason was not just talking, but the actual moves of Scott, such as reducing the size of the treasury auctions for 10 years, pressing the weakest banking regulations to increase the demand for bonds, and support the Doug team in Musk while they are stampede to low government spending.
To date, the pressure works. The return on the 10 -year memo has decreased by half a percentage point over the past two months, as well as similar moves on the other treasury securities. But not all of this because of Scott. Many of it are directly related to Trump’s actions. The commercial definitions and threats of investors who extend from stock to bonds are identified, looking for safety. This is not exactly how Scott wanted to move the market – he was pushing for a cleaner gathering based on economic growth – but it helps his case anyway.
The Treasury plans to make huge hairstyles, as directed
All this comes because the Treasury is preparing to launch a large number of workers as part of the Doug size reduction voltage. The plan was confirmed through the language in the court submitted by the Treasury official, and it is directly associated with President Trump’s executive order, which launched the Doug initiative earlier this year.
On the right statement, the Treasury said that the demobilization of workers “will be designed for every office”, and in many cases, this will mean cutting a large number of jobs through the official discounts in force, or RIFS. The agency did not provide accurate numbers or a final date, but it made it clear that every office is on the table.
The Treasury includes more than 100,000 employees spread in all agencies such as the Tax Authority, the Financial Service Office, the American Mint, and the Currency Observer Office.
These details came from Trevor Norris, a senior human resource official in the Treasury, in a sin submitted by the Federal Court on Tuesday. He stressed that the ministry ends its demobilization plans at the present time, and hinted that many job cuts will target the new federal workers who have been reaffirmed recently under the judge’s order.
This came from the Federal State of Maryland, where a judge of thousands of federal employees was temporarily re -temporarily. All workers were in the case of testing, which means that they were only in their roles for a year to two years, depending on the job. It applies to 18 agencies and its sub -offices, while the court decides whether to make this protection permanent.
Trevor told the judge that the next round of workers’ demobilization will not affect in proportionally “these newly hostile employees. Because under RIF rules, the government reduces the least senior workers first. It has not said when the plans of demobilization of workers will be completed.
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