Department of the Treasury
Secretary:	Scott Bessent
Year created:	1789
Official website:	Treasury.gov

Executive Departments of the United States

Executive DepartmentsDepartment of State •Department of the Treasury •Department of Defense •Department of Justice •Department of the Interior •Department of Agriculture •Department of Commerce •Department of Labor •Department of Health and Human Services •Department of Housing and Urban Development •Department of Transportation •Department of Energy •Department of Education •Department of Veterans Affairs •Department of Homeland Security

Department SecretariesMarco Rubio •Scott Bessent •Pete Hegseth •Pam Bondi •Doug Burgum •Brooke Rollins •Lori Chavez-DeRemer •Robert F. Kennedy Jr. •Scott Turner •Howard Lutnick •Sean Duffy •Chris Wright •Linda McMahon •Doug Collins •Kristi Noem

TheDepartment of the Treasury is a United States executive department established in 1789. The department was originally formed as a solution to managing the finances of the federal government.^[1]

The current secretary of the Treasury isScott Bessent.Click here to learn more about his confirmation process.

History

On April 1, 1776, the Treasury Office of Accounts was formed to maintain the accounts of the rebel colonies. This allowed the colonies to seek loans after the Declaration of Independence was signed on July 4, 1776.^[1] The subsequent years saw a steep decline in the value of Continental Dollars until Robert Morris was appointed Superintendent of the Treasury in 1781. In 1789, the First Congress of the United States created the Department of the Treasury, with Alexander Hamilton becoming the first secretary of the treasury.^[1]

Many departments and agencies have taken root in the Treasury Department before breaking off. The U.S. Post Office, Commerce Department, Drug Enforcement Administration, Office of Management and Budget, Department of Health and Human Services, and even the U.S. Coast Guard were in some way responsibilities of the Treasury Department early in their development. At the 1944 Bretton Woods Conference, the department played a strong role in the formation of the International Monetary Fund and the World Bank.^[1]

Mission

The mission of the Department of the Treasury is as follows:

Leadership

The duties of the secretary of the treasury include:^[1]

• Managing economic and fiscal policy;
• Handling government accounting and debt management;
• Promulgating and enforcing tax and tariff laws;
• Assessing and collecting internal revenue;
• Producing currency; and
• Supervising national banks.

Note: Votes marked "N/A" represent voice votes or unrecorded votes.

Organization

Administrative State
Read more about theadministrative state on Ballotpedia.

Click here to view the Treasury's organizational chart.

Office of the Secretary of the Treasury

The secretary is charged with advising the president on economic and fiscal policy. The secretary also serves as the chief financial officer of the federal government as well as overseeing the Treasury Department. The head of the Department is also responsible for representing the U.S. in international organizations such as the International Monetary Fund and regional development banks.^[1]

Office of the Deputy Secretary of the Treasury

The deputy secretary assists the secretary in running the department and is responsible for leading the department in the absence of the secretary.^[1]

Office of the Treasurer of the United States

The treasurer of the United States must receive, hold and disburse government funds. The treasurer's signature is present on all U.S. paper money along with the secretary's signature.^[1]

Recent news

The link below is to the most recent stories in a Google news search for the termsUnited States Department of Treasury. These results are automatically generated from Google. Ballotpedia does not curate or endorse these articles.

See also

• Steven Mnuchin

External links

• Official Department of the Treasury website
• Official Facebook page
• Official Twitter page
• Official Youtube channel

Footnotes

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United States Terms Adjudication (administrative state) •Administrative judge •Administrative law •Administrative law judge •Administrative state •Arbitrary-or-capricious test •Auer deference •Barrier to entry •Bootleggers and Baptists •Chevron deference (doctrine) •Civil servant •Civil service •Code of Federal Regulations •Codify (administrative state) •Comment period •Compliance costs •Congressional Record •Coordination (administrative state) •Deference (administrative state) •Direct and indirect costs (administrative state) •Enabling statute •Ex parte communication (administrative state) •Executive agency •Federal law •Federal Register •Federalism •Final rule •Formal rulemaking •Formalism (law) •Functionalism (law) •Guidance (administrative state) •Hybrid rulemaking •Incorporation by reference •Independent federal agency •Informal rulemaking •Joint resolution of disapproval (administrative state) •Major rule •Negotiated rulemaking •Nondelegation doctrine •OIRA prompt letter •Organic statute •Pragmatism (law) •Precautionary principle •Promulgate •Proposed rule •Publication rulemaking •Regulatory budget •Regulatory capture •Regulatory dark matter •Regulatory impact analysis •Regulatory policy officer •Regulatory reform officer •Regulatory review •Rent seeking •Retrospective regulatory review •Risk assessment (administrative state) •Rulemaking •Separation of powers •Significant regulatory action •Skidmore deference •Statutory authority •Substantive law and procedural law •Sue and settle •Sunset provision •Unified Agenda of Federal Regulatory and Deregulatory Actions •United States Code •United States Statutes at Large Bibliography "Administrative Law - The 20th Century Bequeaths an 'Illegitimate Exotic' in Full and Terrifying Flower" by Stephen P. Dresch (2000) "Confronting the Administrative Threat" by Philip Hamburger and Tony Mills (2017) "Constitutionalism after the New Deal" by Cass R. Sunstein (1987) Federalist No. 23 by Alexander Hamilton (1787) "From Administrative State to Constitutional Government" by Joseph Postell (2012) "Interring the Nondelegation Doctrine" by Eric A. Posner and Adrian Vermeule (2002) "Rulemaking as Legislating" by Kathryn Watts (2015) "The Checks & Balances of the Regulatory State" by Paul R. Verkuil (2016) "The Myth of the Nondelegation Doctrine" by Keith E. Whittington and Jason Iuliano (2017) "The Progressive Origins of the Administrative State: Wilson, Goodnow, and Landis" by Ronald J. Pestritto (2007) "The Rise and Rise of the Administrative State" by Gary Lawson (1994) "The Study of Administration" by Woodrow Wilson (1887) "The Threat to Liberty" by Steven F. Hayward (2017) "Why the Modern Administrative State Is Inconsistent with the Rule of Law" by Richard A. Epstein (2008) Agencies Administrative Conference of the United States •United States Civil Service Commission •U.S. Government Accountability Office •U.S. Office of Information and Regulatory Affairs •U.S. Office of Management and Budget