The United States secretary of the treasury is the head of the

United States Department of the Treasury The Department of the Treasury (USDT) is the Treasury, national treasury and finance department of the federal government of the United States. It is one of 15 current United States federal executive departments, U.S. government departments. ...

, and is the chief financial officer of the

federal government of the United States The Federal Government of the United States of America (U.S. federal government or U.S. government) is the Federation#Federal governments, national government of the United States. The U.S. federal government is composed of three distinct ...

. The secretary of the treasury serves as the principal advisor to the

president of the United States The president of the United States (POTUS) is the head of state and head of government of the United States. The president directs the Federal government of the United States#Executive branch, executive branch of the Federal government of t ...

on all matters pertaining to economic and fiscal policy. The secretary is, by custom, a member of the president's cabinet and, by law, a member of the

National Security Council A national security council (NSC) is usually an executive branch governmental body responsible for coordinating policy on national security issues and advising chief executives on matters related to national security. An NSC is often headed by a n ...

, and fifth in the U.S. presidential line of succession. Under the

Appointments Clause The Appointments Clause of the United States Constitution empowers the president of the United States to nominate and, with the advice and consent (confirmation) of the United States Senate, appoint public officials. Although the Senate must con ...

of the

United States Constitution The Constitution of the United States is the Supremacy Clause, supreme law of the United States, United States of America. It superseded the Articles of Confederation, the nation's first constitution, on March 4, 1789. Originally includi ...

, the officeholder is nominated by the president of the United States, and, following a confirmation hearing before the

Senate Committee on Finance The United States Senate Committee on Finance (or, less formally, Senate Finance Committee) is a standing committee of the United States Senate. The committee concerns itself with matters relating to taxation and other revenue measures generall ...

, will take the office if confirmed by the majority of the full

United States Senate The United States Senate is a chamber of the Bicameralism, bicameral United States Congress; it is the upper house, with the United States House of Representatives, U.S. House of Representatives being the lower house. Together, the Senate and ...

. The secretary of state, the secretary of the treasury, the secretary of defense, and the

attorney general In most common law jurisdictions, the attorney general (: attorneys general) or attorney-general (AG or Atty.-Gen) is the main legal advisor to the government. In some jurisdictions, attorneys general also have executive responsibility for law enf ...

are generally regarded as the four most important Cabinet officials, due to the size and importance of their respective departments.

Powers and functions

The secretary along with the

treasurer of the United States The treasurer of the United States is an officer in the United States Department of the Treasury who serves as the custodian and trustee of the federal government's collateral assets and the supervisor of the department's currency and coinage pr ...

must sign

Federal Reserve notes Federal Reserve Notes are the currently issued banknotes of the United States dollar. The United States Bureau of Engraving and Printing produces the notes under the authority of the Federal Reserve Act of 1913 and issues them to the Federal ...

before they can become

legal tender Legal tender is a form of money that Standard of deferred payment, courts of law are required to recognize as satisfactory payment in court for any monetary debt. Each jurisdiction determines what is legal tender, but essentially it is anything ...

. The secretary also manages the United States Emergency Economic Stabilization fund.

Salary

The secretary of the treasury is a Level I position in the Executive Schedule, thus earning the salary prescribed for that level ($250,600 as of January 2024).

List of secretaries of the treasury

The United States secretary of the treasury is the head of the

, and is the chief financial officer of the

. The secretary of the treasury serves as the principal advisor to the

on all matters pertaining to economic and fiscal policy. The secretary is, by custom, a member of the president's cabinet and, by law, a member of the

. Under the

of the

, the officeholder is nominated by the president of the United States, and, following a confirmation hearing before the

, is confirmed by the

. ; Parties (4) (4) (30) (5) (35) (1) Status

Succession

Presidential succession

The secretary of the treasury is fifth in the presidential line of succession, following the secretary of state and preceding the secretary of defense.

Succession within the department

On August 16, 2016, President

Barack Obama Barack Hussein Obama II (born August 4, 1961) is an American politician who was the 44th president of the United States from 2009 to 2017. A member of the Democratic Party, he was the first African American president in American history. O ...

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 the

deputy secretary of the treasury The deputy secretary of the treasury of the United States advises and assists the Secretary of the Treasury in the supervision and direction of the United States Department of the Treasury, Department of the Treasury and its activities, and succ ...

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:

Notes

References

External links

* * , - {{DEFAULTSORT:United States Secretary Of The Treasury

Treasury A treasury is either *A government department related to finance and taxation, a finance ministry; in a business context, corporate treasury. *A place or location where treasure, such as currency or precious items are kept. These can be ...

Treasury, Secretary of the

Secretary A secretary, administrative assistant, executive assistant, personal secretary, or other similar titles is an individual whose work consists of supporting management, including executives, using a variety of project management, program evalu ...

1789 establishments in the United States