The US Treasury Department has started accepting Venmo payments through Pay.gov for charitable gifts aimed at reducing national debt. Historically, the Treasury has welcomed contributions via credit cards, debit cards, and bank accounts. Since 2020, the government has received around $120,000 monthly in charitable donations for this purpose. So far in 2024, contributions have reached over $2.7 million, alongside about $1 million in 2023. The national debt currently exceeds $36 trillion and continues to rise, particularly following legislative changes expected to increase the debt further.
The US Treasury Department began accepting Venmo payments on Pay.gov for individuals to contribute gifts to reduce the public debt, making charitable donations easier.
The government has brought in roughly $120,000 a month in charitable contributions to pay down the debt since 2020, with Venmo added as a payment method.
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