Energy Dept., Treasury announce $550M more in grants for green energy projects
Today, Treasury secretary Timothy Geithner and Energy secretary Stephen Chu joined forces to announce $550 million more in cash awards for 25 cleantech energy projects and companies under the banner of the U.S. stimulus package. So far, the government has provided more than $1 billion in financing to jumpstart the sector, which took a hit in private investment following the economic downturn.
The primary goal behind the money is of course to create new green-collar jobs… Continue Reading
IRS commissioner wants to repeal federal cell phone tax
Employers, employees, and mobile industry executives (wow, that covers just about everyone, doesn’t it?) who were worried about stricter taxation on the personal use of business cell phones may be able to relax. Internal Revenue Service Commissioner Douglas Shulman released a statement today asking Congress to repeal the tax, and he said Treasury Secretary Timothy Geithner also supports that move, according to Reuters.
The federal tax in question was approved in 1989, and says that personal… Continue Reading
Obama administration to tighten regulation on VCs?
Venture capitalists may soon be facing more stringent reporting requirements, according to testimony from Treasury Secretary Timothy Geithner today about the Obama administration’s plans to overhaul the country’s financial regulations.
But many details still need to be filled in, and there will probably be plenty of debate and revision before anything actually becomes law. Geithner’s proposal would (for the first time) require hedge fund, private equity, and venture capital fund advisers to register with the Securities… Continue Reading