United States Secretary of the Treasury

Secretary of the Treasury of the United States of America
Seal of the Department of the Treasury
Flag of the Secretary of the Treasury
Incumbent Steven Mnuchin since February 13, 2017
United States Department of the Treasury
Style	Mr. Secretary
Member of	The Cabinet
Reports to	The President
Seat	Washington, D.C.
Appointer	The President with Senate advice and consent
Term length	No fixed term
Constituting instrument	31 U.S.C. § 301
Inaugural holder	Alexander Hamilton
Formation	September 11, 1789 (1789-09-11)
Succession	Fifth^[1]
Deputy	Deputy Secretary of the Treasury^[2]
Salary	Executive Schedule, Level 1^[3]
Website	Treasury.gov

The Secretary of the Treasury is the head of the U.S. Department of the Treasury^[4] which is concerned with financial and monetary matters, and, until 2003, also included several federal law enforcement agencies. This position in the Federal Government of the United States is analogous to the Minister of Finance in many other countries. The Secretary of the Treasury is a member of the President's Cabinet, and is nominated by the President of the United States. Nominees for The Secretary of the Treasury undergo a confirmation hearing before the United States Senate Committee on Finance before being confirmed by the United States Senate.

The Secretary of the Treasury, the Secretary of State, the Attorney General, and the Secretary of Defense are generally regarded as the four most important cabinet officials because of the importance of their departments.^[5] The Secretary of the Treasury is a non-statutory member of the U.S. National Security Council and fifth in the United States presidential line of succession.

Powers and functions

The Secretary of the Treasury is the principal economic advisor to the President and plays a critical role in policy-making by bringing an economic and government financial policy perspective to issues facing the government. 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 the United States Government; and in manufacturing coins and currency.
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 the Social Security and Medicare Trust Funds, and as U.S. Governor of the International Monetary Fund, the International Bank for Reconstruction and Development, the Inter-American Development Bank, the Asian Development Bank, and the European Bank for Reconstruction and Development.
— U.S. Department of the Treasury Web site^[6]

The Secretary along with the Treasurer must sign Federal Reserve notes before they can become legal tender. The Secretary also manages the United States Emergency Economic Stabilization fund.

Most of the Department's law enforcement agencies such as the U.S. Customs Service, the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), and the U.S. Secret Service were reassigned to other Departments in 2003 in conjunction with the creation of the Department of Homeland Security.

The Secretary of the Treasury salary is $205,700 annually.

List of Secretaries of the Treasury

Parties

No party (1) Federalist (4) Democratic-Republican (4) Democratic (29) Whig (5) Republican (34)

Status

Denotes acting 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
2	Oliver Wolcott, Jr.	Connecticut	February 3, 1795	December 31, 1800	George Washington
2	Oliver Wolcott, Jr.	Connecticut	February 3, 1795	December 31, 1800	John Adams
3	Samuel Dexter	Massachusetts	January 1, 1801	May 13, 1801	John Adams
3	Samuel Dexter	Massachusetts	January 1, 1801	May 13, 1801	Thomas Jefferson
4	Albert Gallatin	Pennsylvania	May 14, 1801	February 8, 1814	Thomas Jefferson
4	Albert Gallatin	Pennsylvania	May 14, 1801	February 8, 1814	James Madison
5	George W. Campbell	Tennessee	February 9, 1814	October 5, 1814
6	Alexander J. Dallas	Pennsylvania	October 6, 1814	October 21, 1816
–	William Jones^[1] Acting	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
8	Richard Rush	Pennsylvania	March 7, 1825	March 5, 1829	John Quincy Adams
9	Samuel D. Ingham	Pennsylvania	March 6, 1829	June 20, 1831	Andrew Jackson
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
14	Thomas Ewing	Ohio	March 4, 1841	September 11, 1841	William Henry Harrison
14	Thomas Ewing	Ohio	March 4, 1841	September 11, 1841	John Tyler
15	Walter Forward	Pennsylvania	September 13, 1841	March 1, 1843
16	John C. 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
19	William M. Meredith	Pennsylvania	March 8, 1849	July 22, 1850	Zachary Taylor
20	Thomas Corwin	Ohio	July 23, 1850	March 6, 1853	Millard Fillmore
21	James Guthrie	Kentucky	March 7, 1853	March 6, 1857	Franklin Pierce
22	Howell Cobb	Georgia	March 7, 1857	December 8, 1860	James Buchanan
23	Philip F. Thomas	Maryland	December 12, 1860	January 14, 1861
24	John A. Dix	New York	January 15, 1861	March 6, 1861
25	Salmon P. Chase	Ohio	March 7, 1861	June 30, 1864	Abraham Lincoln
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
28	George S. Boutwell	Massachusetts	March 12, 1869	March 16, 1873	Ulysses S. Grant
29	William A. Richardson	Massachusetts	March 17, 1873	June 3, 1874
30	Benjamin H. 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
33	William Windom	Minnesota	March 8, 1881	November 13, 1881	James A. Garfield
33	William Windom	Minnesota	March 8, 1881	November 13, 1881	Chester A. Arthur
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
38	Charles S. Fairchild	New York	April 1, 1887	March 6, 1889	Grover Cleveland
39	William Windom	Minnesota	March 7, 1889	January 29, 1891	Benjamin Harrison
40	Charles W. Foster	Ohio	February 25, 1891	March 6, 1893	Benjamin Harrison
41	John G. Carlisle	Kentucky	March 7, 1893	March 5, 1897	Grover Cleveland
42	Lyman J. Gage	Illinois	March 6, 1897	January 31, 1902	William McKinley
42	Lyman J. Gage	Illinois	March 6, 1897	January 31, 1902	Theodore Roosevelt
43	Leslie 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
46	William G. McAdoo	California	March 6, 1913	December 15, 1918	Woodrow Wilson
47	Carter Glass	Virginia	December 16, 1918	February 1, 1920
48	David F. Houston	Missouri	February 2, 1920	March 3, 1921
49	Andrew W. Mellon	Pennsylvania	March 4, 1921	February 12, 1932	Warren G. Harding
					Calvin Coolidge
					Herbert Hoover
50	Ogden L. Mills	New York	February 13, 1932	March 4, 1933	Herbert Hoover
51	William H. Woodin	New York	March 5, 1933	December 31, 1933	Franklin D. Roosevelt
52	Henry Morgenthau, Jr.	New York	January 1, 1934	July 22, 1945	Franklin D. Roosevelt
52	Henry Morgenthau, Jr.	New York	January 1, 1934	July 22, 1945	Harry S. Truman
53	Fred M. Vinson	Kentucky	July 23, 1945	June 23, 1946
54	John W. Snyder	Missouri	June 25, 1946	January 20, 1953
55	George M. Humphrey	Ohio	January 21, 1953	July 29, 1957	Dwight D. Eisenhower
56	Robert B. Anderson	Connecticut	July 29, 1957	January 20, 1961	Dwight D. Eisenhower
57	C. Douglas Dillon	New Jersey	January 21, 1961	April 1, 1965	John F. Kennedy
57	C. Douglas Dillon	New Jersey	January 21, 1961	April 1, 1965	Lyndon B. Johnson
58	Henry H. Fowler	Virginia	April 1, 1965	December 20, 1968
59	Joseph W. Barr	Indiana	December 21, 1968	January 20, 1969
60	David M. Kennedy	Utah	January 22, 1969	February 10, 1971	Richard Nixon
61	John B. Connally, Jr.	Texas	February 11, 1971	June 12, 1972
62	George P. 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
64	W. Michael Blumenthal	Michigan	January 23, 1977	August 4, 1979	Jimmy Carter
65	G. William Miller	Rhode Island	August 7, 1979	January 20, 1981	Jimmy Carter
66	Donald T. Regan	New Jersey	January 22, 1981	February 1, 1985	Ronald Reagan
67	James A. Baker III	Texas	February 4, 1985	August 17, 1988
–	M. Peter McPherson^[2] Acting	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
69	Lloyd Bentsen	Texas	January 20, 1993	December 22, 1994	Bill Clinton
–	Frank N. Newman^[3] Acting	Massachusetts	December 22, 1994	January 11, 1995
70	Robert E. Rubin	New York	January 11, 1995	July 2, 1999
71	Lawrence H. Summers	Massachusetts	July 2, 1999	January 20, 2001
72	Paul H. O'Neill	Pennsylvania	January 20, 2001	December 31, 2002	George W. Bush
–	Kenneth W. Dam^[4] Acting	Illinois	December 31, 2002	February 3, 2003
73	John W. Snow	Virginia	February 3, 2003	June 30, 2006
–	Robert M. Kimmitt^[5] Acting	Virginia	June 30, 2006	July 10, 2006
74	Henry M. Paulson, Jr.	Illinois	July 10, 2006	January 20, 2009
–	Stuart A. Levey^[6] Acting	Ohio	January 20, 2009	January 26, 2009	Barack Obama
75	Timothy F. Geithner	New York	January 26, 2009	January 25, 2013
–	Neal S. Wolin^[7] Acting	Illinois	January 25, 2013	February 28, 2013
76	Jack Lew	New York	February 28, 2013	January 20, 2017
–	Adam Szubin^[8] Acting	Washington, D.C.	January 20, 2017	February 13, 2017	Donald Trump
77	Steven Mnuchin	California	February 13, 2017	Incumbent	Donald Trump

¹ William Jones served as acting secretary between the resignation of Alexander J. Dallas and appointment of William H. Crawford.

² Deputy Secretary of the Treasury M. Peter McPherson served as Acting Secretary of the Treasury from August 17, 1988, to September 15, 1988.

³ Because of the resignation of Deputy Secretary of the Treasury Roger Altman in August 1994, Under Secretary of Treasury for Domestic Finance Frank N. Newman served from December 22, 1994, to January 11, 1995 as Acting Secretary of the Treasury.

⁴ Deputy Secretary of the Treasury Kenneth W. Dam served as Acting Secretary of the Treasury from December 31, 2002, to February 3, 2003.

⁵ Deputy Secretary of the Treasury Robert M. Kimmitt served as Acting Secretary of the Treasury from June 30, 2006, to July 9, 2006.

⁶ Under Secretary for Terrorism and Financial Intelligence Stuart A. Levey served as Acting Secretary of the Treasury from January 20, 2009, until the confirmation of Timothy Geithner, which occurred January 26, 2009.

⁷ Deputy Secretary of the Treasury Neal Wolin served as Acting Secretary of the Treasury from January 25, 2013, until the confirmation of Jack Lew which occurred February 28, 2013.

⁸ Acting Under Secretary for Terrorism and Financial Intelligence Adam J. Szubin served as Acting Secretary of the Treasury from January 20, 2017, until the confirmation of Steven Mnuchin which occurred February 13, 2017.

The former flag of the U.S. Secretary of the Treasury, originating from the 19th century.

If both the Secretary and the Deputy Secretary of the Treasury are unable to carry out the duties of the office of Secretary of the Treasury, then whichever Treasury official of Under Secretary rank sworn in earliest assumes the role of Acting Secretary. Positions listed on the Department of the Treasury website include the Under Secretary for Domestic Finance, the Under Secretary for International Affairs, and the Under Secretary for Terrorism and Financial Intelligence.

Living former Secretaries of the Treasury

As of August 2017, there are eleven living former Secretaries of the Treasury, the oldest being George P. Shultz (served 1972-1974, born 1920). The most recent Secretary of the Treasury to die was Lloyd M. Bentsen, Jr. (served 1993–1994, born 1921), on May 23, 2006.

Name	Term of office	Date of birth (and age)
George P. Shultz	1972–1974	(1920-12-13) December 13, 1920
W. Michael Blumenthal	1977–1979	(1926-01-03) January 3, 1926
James A. Baker	1985–1988	(1930-04-28) April 28, 1930
Nicholas F. Brady	1988–1993	(1930-04-11) April 11, 1930
Robert Rubin	1995–1999	(1938-08-29) August 29, 1938
Lawrence H. Summers	1999–2001	(1954-11-30) November 30, 1954
Paul O'Neill	2001–2002	(1935-12-04) December 4, 1935
John W. Snow	2003–2006	(1939-08-02) August 2, 1939
Henry Paulson	2006–2009	(1946-03-28) March 28, 1946
Timothy F. Geithner	2009–2013	(1961-08-18) August 18, 1961
Jack Lew	2013–2017	(1955-08-29) August 29, 1955

Notes

↑ https://www.law.cornell.edu/uscode/text/3/19
↑ 31 U.S.C. § 301
↑ 5 U.S.C. § 5312
↑ 31 U.S.C. § 301
↑ 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 from the original on November 19, 2010. Retrieved November 30, 2012.

References

"Secretaries of the Treasury". History of the Treasury. United States Department of the Treasury. Retrieved 9 April 2006.

External links

Wikimedia Commons has media related to United States Secretary of the Treasury.

Current U.S. order of precedence (ceremonial)
Preceded by David Souter as Senior Associate Justice	Order of Precedence of the United States as Secretary of the Treasury	Succeeded by James Mattis as Secretary of Defense
Current U.S. presidential line of succession
Preceded by Secretary of State Rex Tillerson	5th in line	Succeeded by Secretary of Defense James Mattis

United States Secretaries of the Treasury
18th century	Hamilton Wolcott Dexter
19th century	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
20th century	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
21st century	O'Neill Snow Paulson Geithner Lew Mnuchin

Agencies under the United States Department of the Treasury
Headquarters: Treasury Building Steven Mnuchin, Secretary of the Treasury Vacant, Deputy Secretary of the Treasury
Deputy Secretary of the Treasury	Alcohol and Tobacco Tax and Trade Bureau Community Development Financial Institutions Fund Treasury Inspector General for Tax Administration 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

Leaders of the United 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

Presidential line of succession in the United States of America

↑ Although Elaine Chao is the current Secretary of Transportation, she is not a natural-born citizen (acquired U.S. citizenship by naturalization) and thus ineligible for the Presidency.

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.