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United States Secretary of the Treasury

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Head of the United States Department of the Treasury

"Secretary of the Treasury" redirects here. For other uses, seeSecretary of the Treasury (disambiguation). Not to be confused withTreasurer of the United States.

United States Secretary of the Treasury
Seal of theDepartment of the Treasury
Flag of the secretary
Incumbent Scott Bessent since January 28, 2025
Department of the Treasury
Style	Mr. Secretary (informal) The Honorable (formal)
Member of	Cabinet National Security Council
Reports to	President of the United States
Seat	Treasury Building Washington, D.C.
Appointer	Thepresident withSenate advice and consent
Term length	No fixed term
Constituting instrument	31 U.S.C. § 301
Precursor	Superintendent of Finance
Formation	September 11, 1789; 236 years ago (1789-09-11)
First holder	Alexander Hamilton
Succession	Fifth^[1]
Deputy	Deputy Secretary^[2]
Salary	Executive Schedule, Level I^[3]
Website	treasury.gov

TheUnited States secretary of the treasury is the head of theUnited States Department of the Treasury, and is the chief financial officer of thefederal government of the United States. The secretary of the treasury serves as the principal advisor to thepresident of the United States on all matters pertaining to economic and fiscal policy. The secretary is, by custom, a member of thepresident's cabinet and, by law, a member of theNational Security Council,^[4] and fifth in theU.S. presidential line of succession.

Under theAppointments Clause of theUnited States Constitution, the officeholder is nominated by the president of the United States, and, following aconfirmation hearing before theSenate Committee on Finance, will take the office if confirmed by the majority of the fullUnited States Senate.

Thesecretary of state, the secretary of the treasury, thesecretary of defense, and theattorney general are generally regarded as the four most important Cabinet officials, due to the size and importance of their respective departments.^[5] The current secretary of the treasury has beenScott Bessent since January 28, 2025.

Powers and functions

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The secretary is responsible for formulating and recommending domestic and international financial, economic, and tax policy, participating in the formulation of broad fiscal policies that have general significance for the economy, and managing the public debt. The secretary oversees the activities of the department in carrying out its major law enforcement responsibilities; in serving as the financial agent for theUnited States government; and in manufacturingcoins andcurrency.As the chief financial officer of the government, the secretary serves as chairman pro tempore of the President's Economic Policy Council, chairman of the boards and managing trustee of theSocial Security andMedicare Trust Funds, and as U.S. Governor of theInternational Monetary Fund, theInternational Bank for Reconstruction and Development, theInter-American Development Bank, theAsian Development Bank, and theEuropean Bank for Reconstruction and Development.

— U.S. Department of the Treasury Web site^[6]

The secretary along with thetreasurer of the United States must signFederal Reserve notes before they can becomelegal tender.^[7] The secretary also manages theUnited States Emergency Economic Stabilization fund.^[8]

Salary

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The secretary of the treasury is aLevel I position in the Executive Schedule,^[3] thus earning the salary prescribed for that level ($250,600 as of January 2024).^[9]

List of secretaries of the treasury

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Parties

Federalist (4) Democratic-Republican (4) Democratic (30) Whig (5) Republican (35) Independent (1)

Status

Denotes anacting secretary of the treasury

No.	Name	State of residence	Took office	Left office
1	Alexander Hamilton	New York	September 11, 1789	January 31, 1795	George Washington (1789–1797)
2	Oliver Wolcott Jr.	Connecticut	February 3, 1795	December 31, 1800	George Washington (1789–1797)
2	Oliver Wolcott Jr.	Connecticut	February 3, 1795	December 31, 1800	John Adams (1797–1801)
3	Samuel Dexter	Massachusetts	January 1, 1801	May 13, 1801	John Adams (1797–1801)
3	Samuel Dexter	Massachusetts	January 1, 1801	May 13, 1801	Thomas Jefferson (1801–1809)
4	Albert Gallatin	Pennsylvania	May 14, 1801	February 8, 1814	James Madison (1809–1817)
4	Albert Gallatin	Pennsylvania	May 14, 1801	February 8, 1814
5	George W. Campbell	Tennessee	February 9, 1814	October 5, 1814
6	Alexander Dallas	Pennsylvania	October 6, 1814	October 21, 1816
–	William Jones Acting^[a]	Pennsylvania	October 21, 1816	October 22, 1816
7	William H. Crawford	Georgia	October 22, 1816	March 6, 1825
7	William H. Crawford	Georgia	October 22, 1816	March 6, 1825	James Monroe (1817–1825)
8	Richard Rush	Pennsylvania	March 7, 1825	March 5, 1829	John Quincy Adams (1825–1829)
9	Samuel D. Ingham	Pennsylvania	March 6, 1829	June 20, 1831	Andrew Jackson (1829–1837)
10	Louis McLane	Delaware	August 8, 1831	May 28, 1833
11	William J. Duane	Pennsylvania	May 29, 1833	September 22, 1833
12	Roger B. Taney	Maryland	September 23, 1833	June 25, 1834
13	Levi Woodbury	New Hampshire	July 1, 1834	March 3, 1841
13	Levi Woodbury	New Hampshire	July 1, 1834	March 3, 1841	Martin Van Buren (1837–1841)
14	Thomas Ewing	Ohio	March 4, 1841	September 11, 1841	William Henry Harrison (1841)
14	Thomas Ewing	Ohio	March 4, 1841	September 11, 1841	John Tyler (1841–1845)
15	Walter Forward	Pennsylvania	September 13, 1841	March 1, 1843
16	John Canfield Spencer	New York	March 8, 1843	May 2, 1844
17	George M. Bibb	Kentucky	July 4, 1844	March 7, 1845
18	Robert J. Walker	Mississippi	March 8, 1845	March 5, 1849	James K. Polk (1845–1849)
19	William M. Meredith	Pennsylvania	March 8, 1849	July 22, 1850	Zachary Taylor (1849–1850)
20	Thomas Corwin	Ohio	July 23, 1850	March 6, 1853	Millard Fillmore (1850–1853)
21	James Guthrie	Kentucky	March 7, 1853	March 6, 1857	Franklin Pierce (1853–1857)
22	Howell Cobb	Georgia	March 7, 1857	December 8, 1860	James Buchanan (1857–1861)
23	Philip Francis Thomas	Maryland	December 12, 1860	January 14, 1861
24	John Adams Dix	New York	January 15, 1861	March 6, 1861
25	Salmon P. Chase	Ohio	March 7, 1861	June 30, 1864	Abraham Lincoln (1861–1865)
26	William P. Fessenden	Maine	July 5, 1864	March 3, 1865
27	Hugh McCulloch	Indiana	March 9, 1865	March 3, 1869
27	Hugh McCulloch	Indiana	March 9, 1865	March 3, 1869	Andrew Johnson (1865–1869)
28	George S. Boutwell	Massachusetts	March 12, 1869	March 16, 1873	Ulysses S. Grant (1869–1877)
29	William Adams Richardson	Massachusetts	March 17, 1873	June 3, 1874
30	Benjamin Bristow	Kentucky	June 4, 1874	June 20, 1876
31	Lot M. Morrill	Maine	July 7, 1876	March 9, 1877
32	John Sherman	Ohio	March 10, 1877	March 3, 1881	Rutherford B. Hayes (1877–1881)
33	William Windom	Minnesota	March 8, 1881	November 13, 1881	James A. Garfield (1881)
33	William Windom	Minnesota	March 8, 1881	November 13, 1881	Chester A. Arthur (1881–1885)
34	Charles J. Folger	New York	November 14, 1881	September 4, 1884
35	Walter Q. Gresham	Indiana	September 5, 1884	October 30, 1884
36	Hugh McCulloch	Indiana	October 31, 1884	March 7, 1885
37	Daniel Manning	New York	March 8, 1885	March 31, 1887	Grover Cleveland (1885–1889)
38	Charles S. Fairchild	New York	April 1, 1887	March 6, 1889	Grover Cleveland (1885–1889)
39	William Windom	Minnesota	March 7, 1889	January 29, 1891	Benjamin Harrison (1889–1893)
40	Charles Foster	Ohio	February 25, 1891	March 6, 1893	Benjamin Harrison (1889–1893)
41	John G. Carlisle	Kentucky	March 7, 1893	March 5, 1897	Grover Cleveland (1893–1897)
42	Lyman J. Gage	Illinois	March 6, 1897	January 31, 1902	William McKinley (1897–1901)
42	Lyman J. Gage	Illinois	March 6, 1897	January 31, 1902	Theodore Roosevelt (1901–1909)
43	L. M. Shaw	Iowa	February 1, 1902	March 3, 1907
44	George B. Cortelyou	New York	March 4, 1907	March 7, 1909
45	Franklin MacVeagh	Illinois	March 8, 1909	March 5, 1913	William Howard Taft (1909–1913)
46	William Gibbs McAdoo	New York	March 6, 1913	December 15, 1918	Woodrow Wilson (1913–1921)
47	Carter Glass	Virginia	December 16, 1918	February 1, 1920
48	David F. Houston	Missouri	February 2, 1920	March 3, 1921
49	Andrew Mellon	Pennsylvania	March 4, 1921	February 12, 1932	Warren G. Harding (1921–1923)
					Calvin Coolidge (1923–1929)
					Herbert Hoover (1929–1933)
50	Ogden L. Mills	New York	February 13, 1932	March 4, 1933	Herbert Hoover (1929–1933)
51	William H. Woodin	New York	March 5, 1933	December 31, 1933	Franklin D. Roosevelt (1933–1945)
52	Henry Morgenthau Jr.	New York	January 1, 1934	July 22, 1945	Franklin D. Roosevelt (1933–1945)
53	Fred M. Vinson	Kentucky	July 23, 1945	June 23, 1946	Harry S. Truman (1945–1953)
54	John Wesley Snyder	Missouri	June 25, 1946	January 20, 1953	Harry S. Truman (1945–1953)
55	George M. Humphrey	Ohio	January 21, 1953	July 29, 1957	Dwight D. Eisenhower (1953–1961)
56	Robert Anderson	Connecticut	July 29, 1957	January 20, 1961	Dwight D. Eisenhower (1953–1961)
57	C. Douglas Dillon	New Jersey	January 21, 1961	April 1, 1965	John F. Kennedy (1961–1963)
57	C. Douglas Dillon	New Jersey	January 21, 1961	April 1, 1965	Lyndon B. Johnson (1963–1969)
58	Henry H. Fowler	Virginia	April 1, 1965	December 20, 1968
59	Joseph W. Barr	Indiana	December 21, 1968	January 20, 1969
60	David Kennedy	Utah	January 22, 1969	February 10, 1971	Richard Nixon (1969–1974)
61	John Connally	Texas	February 11, 1971	June 12, 1972
62	George Shultz	Illinois	June 12, 1972	May 8, 1974
63	William E. Simon	New Jersey	May 8, 1974	January 20, 1977
63	William E. Simon	New Jersey	May 8, 1974	January 20, 1977	Gerald Ford (1974–1977)
64	W. Michael Blumenthal	Michigan	January 23, 1977	August 4, 1979	Jimmy Carter (1977–1981)
65	G. William Miller	Rhode Island	August 7, 1979	January 20, 1981	Jimmy Carter (1977–1981)
66	Donald Regan	New Jersey	January 22, 1981	February 1, 1985	Ronald Reagan (1981–1989)
67	James Baker	Texas	February 4, 1985	August 17, 1988
–	M. Peter McPherson Acting^[b]	Michigan	August 17, 1988	September 15, 1988
68	Nicholas F. Brady	New Jersey	September 15, 1988	January 17, 1993
68	Nicholas F. Brady	New Jersey	September 15, 1988	January 17, 1993	George H. W. Bush (1989–1993)
69	Lloyd Bentsen	Texas	January 20, 1993	December 22, 1994	Bill Clinton (1993–2001)
–	Frank N. Newman Acting^[b]	Massachusetts	December 22, 1994	January 11, 1995
70	Robert Rubin	New York	January 11, 1995	July 2, 1999
71	Lawrence Summers	Maryland	July 2, 1999	January 20, 2001
72	Paul H. O'Neill	Pennsylvania	January 20, 2001	December 31, 2002	George W. Bush (2001–2009)
–	Kenneth W. Dam Acting^[b]	Illinois	December 31, 2002	February 3, 2003
73	John W. Snow	Virginia	February 3, 2003	June 30, 2006
–	Robert M. Kimmitt Acting^[b]	Virginia	June 30, 2006	July 10, 2006
74	Henry Paulson	Illinois	July 10, 2006	January 20, 2009
–	Stuart A. Levey Acting^[c]	Ohio	January 20, 2009	January 26, 2009	Barack Obama (2009–2017)
75	Timothy Geithner	New York	January 26, 2009	January 25, 2013
–	Neal S. Wolin Acting^[b]	Illinois	January 25, 2013	February 28, 2013
76	Jack Lew	New York	February 28, 2013	January 20, 2017
–	Adam Szubin Acting^[c]	Washington, D.C.	January 20, 2017	February 13, 2017	Donald Trump (2017–2021)
77	Steven Mnuchin	California	February 13, 2017	January 20, 2021	Donald Trump (2017–2021)
–	Andy Baukol Acting^[d]	Virginia	January 20, 2021	January 26, 2021	Joe Biden (2021–2025)
78	Janet Yellen	California	January 26, 2021	January 20, 2025	Joe Biden (2021–2025)
–	David Lebryk Acting^[e]	Indiana	January 20, 2025	January 28, 2025	Donald Trump (2025–present)
79	Scott Bessent	South Carolina	January 28, 2025	Incumbent	Donald Trump (2025–present)

Former flag of the secretary of the treasury, originating from the 19th century.

Succession

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Presidential succession

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The secretary of the treasury is fifth in thepresidential line of succession, following thesecretary of state and preceding thesecretary of defense.^[1]

Succession within the department

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On August 16, 2016, PresidentBarack Obama signed Executive Order 13735, which changed the order of succession for filling the treasury secretary's role when necessary. At any time when the secretary and thedeputy secretary of the treasury have both died, resigned, or cannot serve as secretary for other reasons, the order designates which treasury officers are next in line to serve as acting secretary.

The order of succession is:^[11]


#	Office
1*	Under secretaries of the treasury
2	General Counsel of the Department of the Treasury
3*	Deputy under secretaries of the treasury and thoseassistant secretaries of the treasury appointed by the president by and with the consent of the Senate
4	Chief of Staff
5	Assistant Secretary for Management
6	Fiscal Assistant Secretary
7	Commissioner of Internal Revenue,Internal Revenue Service
8	Commissioner,Bureau of the Fiscal Service
9	Deputy Commissioner, Fiscal Accounting and Shared Services,Bureau of the Fiscal Service
10	Commissioner, Wage and Investment Division,Internal Revenue Service

*In the order in which they shall have taken the oath of office as such officers.

Notes

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^AsSecretary of the Navy.
^^a ^b ^c ^d ^eAsDeputy Secretary of the Treasury.
^^a ^bAsUnder Secretary of the Treasury for Terrorism and Financial Intelligence.
^As Deputy Assistant Secretary for Monetary Policy.
^AsFiscal Assistant Secretary of the Treasury.

References

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^^a ^b"3 U.S. Code § 19 – Vacancy in offices of both President and Vice President; officers eligible to act".LII / Legal Information Institute.Archived from the original on December 26, 2018. RetrievedFebruary 4, 2017.
^31 U.S.C. § 301
^^a ^b5 U.S.C. § 5312
^50 U.S.C. §§ 3021–Security Council National Security Council
^Cabinets and Counselors: The President and the Executive Branch (1997).Congressional Quarterly. p. 87.
^"Duties & Functions: Secretaries of the Treasury".United States Department of the Treasury. Archived fromthe original on November 19, 2010. RetrievedNovember 30, 2012.
^Rappeport, Alan (December 8, 2022)."Yellen Is First Female Treasury Secretary With Signature on U.S. Dollar".The New York Times.Archived from the original on December 9, 2022. RetrievedDecember 9, 2022.By tradition, the treasurer must sign the money along with the Treasury secretary. Both signatures are engraved onto plates at the Bureau of Engraving and Printing, where they are printed and submitted to the Federal Reserve, which determines what currency will be added to circulation.
^12 U.S.C. § 5211:Purchases of troubled assets
^"Salary Table No. 2021-EX Rates of Basic Pay for the Executive Schedule (EX)"(PDF).
^50 U.S.C. §§ 3021–Security Council National Security Council
^"Executive Order on Providing an Order of Succession within the Department of the Treasury". August 16, 2016.Archived from the original on September 25, 2021. RetrievedJanuary 9, 2022. This article incorporates text from this source, which is in thepublic domain.

External links

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Wikimedia Commons has media related toUnited States Secretary of the Treasury.

Official website
"Secretaries of the Treasury".History of the Treasury.United States Department of the Treasury. RetrievedApril 9, 2006.

U.S. order of precedence (ceremonial)
Preceded by Stephen Breyer as retired Associate Justice of the United States Supreme Court	Order of precedence of the United States as Secretary of the Treasury	Succeeded by Pete Hegseth asSecretary of Defense
U.S. presidential line of succession
Preceded by Secretary of State Marco Rubio	5th in line	Succeeded by Secretary of Defense Pete Hegseth

Links to related articles

v t e United States secretaries of the treasury
Hamilton Wolcott Dexter Gallatin Campbell Dallas Crawford Rush Ingham McLane Duane Taney Woodbury Ewing Forward Spencer Bibb Walker Meredith Corwin Guthrie Cobb Thomas Dix Chase Fessenden McCulloch Boutwell Richardson Bristow Morrill Sherman Windom Folger Gresham McCulloch Manning Fairchild Windom Foster Carlisle Gage Shaw Cortelyou MacVeagh McAdoo Glass Houston Mellon Mills Woodin Morgenthau Vinson Snyder Humphrey Anderson Dillon Fowler Barr Kennedy Connally Shultz Simon Blumenthal Miller Regan Baker Brady Bentsen Rubin Summers O'Neill Snow Paulson Geithner Lew Mnuchin Yellen Bessent

v t e United States Department of the Treasury
Headquarters:Treasury Building andFreedman's Bank Building Scott Bessent,Secretary of the Treasury Dan Katz, ActingDeputy Secretary of the Treasury
Deputy Secretary of the Treasury	Alcohol and Tobacco Tax and Trade Bureau Community Development Financial Institutions Fund Internal Revenue Service Treasury Inspector General for Tax Administration Office of Inspector General Office of the Comptroller of the Currency Office of Tax Policy
Under Secretary of the Treasury for International Affairs	Office of East Asia Office of South and Southeast Asia Nations Office of Europe & Eurasia Office of the Western Hemisphere Office of International Monetary Policy Office of Banking and Securities Office of International Debt Policy Office of Development Policy Office of Financing Operations Office of African Nations Office of the Middle East and North Africa Office of International Trade Office of International Investment Office of Trade Finance Office of Technical Assistance Office of Risk and Research Analysis Exchange Stabilization Fund
Under Secretary of the Treasury for Domestic Finance	Advanced Counterfeit Deterrence Federal Financing Bank Office of Debt Management Office of Financial Institutions Office of Financial Markets Office of Financial Stability Office of Fiscal Service Bureau of the Fiscal Service
Under Secretary of the Treasury for Terrorism and Financial Intelligence	Office of Terrorism and Financial Intelligence Office of Terrorist Financing and Financial Crimes Office of Intelligence and Analysis Office of Foreign Assets Control Financial Crimes Enforcement Network Treasury Executive Office for Asset Forfeiture
Treasurer of the United States	Bureau of Engraving and Printing United States Mint

v t e Leaders of theUnited States federal executive departments
Current	Agriculture Commerce Defense Education Energy Health and Human Services Homeland Security Housing and Urban Development Interior Justice Labor State Transportation Treasury Veterans Affairs
Past	Commerce and Labor Health, Education, and Welfare Navy Post Office War

United States presidential line of succession

Succession Clause of Article II, Section I (1788)
12th Amendment (1804)
20th Amendment (1933)
25th Amendment (1967)
Presidential Succession Act

Current line

v t e Monetary policy andcentral banking in the United States (pre–1913)
Monetary policy of the United States
Commercial Revolution (1607–1760)	Bills of credit (c. 1690–1750) Tobacco Inspection Act (1730) Maryland Tobacco Inspection Act of 1747 Currency Acts (1751; 1764)
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2nd Industrial Revolution/ Gilded Age (1870–1914)	Legal Tender Cases Hepburn v. Griswold (1870) Currency Act of 1870 National Gold Bank Note (1870–1875) Knox v. Lee (1871) Coinage Act of 1873 Free silver Specie Payment Resumption Act (1875) Twenty-cent piece (1875–1878) Bland–Allison Act (1878) Silver certificate (1878–1964) Refunding Certificate (1879–1907) Juilliard v. Greenman (1884) Sherman Silver Purchase Act (1890) Treasury Note (1890–1891) Gold Standard Act (1900) Aldrich–Vreeland Act (1908) National Monetary Commission (1909–1912) Pujo Committee (1912–1913) Federal Reserve Act (1913)

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