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United States Secretary of the Treasury

Head of the United States Department of the Treasury

Field	Value
post	United States Secretary
body	the Treasury
flag	Flag of the United States Secretary of the Treasury.svg
flagborder	yes
flagsize	130
flagcaption	Flag of the secretary
insignia	Seal of the United States Department of the Treasury.svg
insigniasize	120
insigniacaption	Seal of the Department of the Treasury
image	Official portrait of Treasury Secretary Scott Bessent (borderless).jpg
incumbent	Scott Bessent
incumbentsince	January 28, 2025
acting	n
department	Department of the Treasury
style
member_of
reports_to	President of the United States
seat
appointer	The president
appointer_qualified	with Senate advice and consent
termlength	No fixed term
constituting_instrument
precursor	Superintendent of Finance
formation
first	Alexander Hamilton
succession	Fifth
deputy	Deputy Secretary
salary	Executive Schedule, Level I
website

The United States secretary of the treasury is the head of the United States Department of the Treasury, and is the chief financial officer of the federal government of the United States. The secretary of the treasury serves as the principal advisor to the president of the United States 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, and fifth in the U.S. presidential line of succession.

Under the Appointments Clause of the United States Constitution, the officeholder is nominated by the president of the United States, and, following a confirmation hearing before the Senate Committee on Finance, will take the office if confirmed by the majority of the full United States Senate.

The secretary of state, the secretary of the treasury, the secretary of defense, and the attorney general are generally regarded as the four most important Cabinet officials, due to the size and importance of their respective departments. The current secretary of the treasury has been Scott Bessent since January 28, 2025.

Powers and functions

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 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. |author=U.S. Department of the Treasury Web site}}

The secretary along with the treasurer of the United States must sign Federal Reserve notes before they can become legal tender. 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

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

Status

No.	Portrait	Name	State of residence	Took office	Left office	President(s)	Federalist Party}};"
[[File:Alexander Hamilton, by Trumbull.jpg	alt=	frameless	150x150px]]		New York			Independent (politician)}};"
(1789–1797)
[[File:Oliver Wolcott Jr by Gilbert Stuart circa 1820.jpeg	alt=	frameless	149x149px]]		Connecticut
Federalist Party}};"
(1797–1801)
[[File:Samuel Dexter.jpg	alt=	frameless	166x166px]]		Massachusetts
Democratic-Republican Party}};"
(1801–1809)
[[File:Albert Gallatin 3.JPG	alt=	frameless	190x190px]]		Pennsylvania
(1809–1817)
Democratic-Republican Party}};"
[[File:George W Campbell cph.3a00320.jpg	alt=	frameless	161x161px]]		Tennessee
[[File:Alexander James Dallas.jpg	frameless	158x158px]]		Pennsylvania
–	[[File:Secratary of the Navy, William Jones.jpg	125px]]
Acting	Pennsylvania
[[File:Portrait of William Harris Crawford.jpg	frameless	158x158px]]		Georgia
Democratic-Republican Party}};"
(1817–1825)
[[File:RUSH, Richard-BEP069-Treasury (BEP engraved portrait).jpg	alt=	frameless	167x167px]]		Pennsylvania			Democratic-Republican Party}};"
(1825–1829)
[[File:SIng.jpg	alt=	frameless	154x154px]]		Pennsylvania			Democratic Party (United States)}};"
(1829–1837)
[[File:Louis McLane (Treasury Secretary, BEP engraved portrait, cropped).jpg	frameless	154x154px]]		Delaware
[[File:William J Duane.jpg	alt=	frameless	159x159px]]		Pennsylvania
[[File:Roger Taney.jpg	frameless	153x153px]]		Maryland
[[File:Secretary of the Navy, Levi Woodbury.jpg	frameless	149x149px]]		New Hampshire
Democratic Party (United States)}};"
(1837–1841)
[[File:ThomasEwingSr.jpg	frameless	160x160px]]		Ohio			Whig Party (United States)}};"
(1841)
Whig Party (United States)}};"
(1841–1845)
[[File:WForward-SecofTreas.jpg	frameless	150x150px]]		Pennsylvania
[[File:SPENCER, John C-Treasury (BEP engraved portrait) (cropped).jpg	frameless	157x157px]]		New York
[[File:George M. Bibb - Brady-Handy.jpg	frameless	188x188px]]		Kentucky
[[File:Hon. Robert J. Walker, Miss - NARA - 528738.jpg	frameless	147x147px]]		Mississippi			Democratic Party (United States)}};"
(1845–1849)
[[File:WMMeredith.jpg	frameless	160x160px]]		Pennsylvania			Whig Party (United States)}};"
(1849–1850)
[[File:TCorwin.jpg	frameless	154x154px]]		Ohio			Whig Party (United States)}};"
(1850–1853)
[[File:James-Guthrie-(wreaths).jpg	frameless	144x144px]]		Kentucky			Democratic Party (United States)}};"
(1853–1857)
[[File:Cobb, Howell2.jpg	frameless	154x154px]]		Georgia			Democratic Party (United States)}};"
(1857–1861)
[[File:Philip Francis Thomas, sitting.jpg	frameless	176x176px]]		Maryland
[[File:John adams dix.jpg	frameless	159x159px]]		New York
[[File:Mathew Brady, Portrait of Secretary of the Treasury Salmon P. Chase, officer of the United States government (1860–1865, full version).jpg	frameless	141x141px]]		Ohio			Republican Party (United States)}};"
(1861–1865)
[[File:Hon. William P. Fessenden, Maine - NARA - 529980.jpg	frameless	147x147px]]		Maine
[[File:Hugh McCulloch.png	frameless	143x143px]]		Indiana
Democratic Party (United States)}};"
(1865–1869)
[[File:George Boutwell, Brady-Handy photo portrait, ca1870-1880.jpg	frameless	148x148px]]		Massachusetts			Republican Party (United States)}};"
(1869–1877)
[[File:William Adams Richardson Brady-Handy.tif	frameless	172x172px]]		Massachusetts
[[File:Benjamin Helm Bristow Brady - Handy U.S. Secretary of Treasury.jpg	frameless	172x172px]]		Kentucky
[[File:Lot M. Morrill Brady-Handy Portrait Photo.jpg	frameless	167x167px]]		Maine
[[File:John-Sherman-2.jpg	frameless	151x151px]]		Ohio			Republican Party (United States)}};"
(1877–1881)
[[File:William Windom, Brady-Handy photo portrait, ca1870-1880.jpg	frameless	140x140px]]		Minnesota			Republican Party (United States)}};"
(1881)
Republican Party (United States)}};"
(1881–1885)
[[File: Secretary Charles J. Folger.jpg	frameless	192x192px]]		New York
[[File:Walter Q. Gresham - Brady-Handy.jpg	frameless	150x150px]]		Indiana
[[File:Hugh McCulloch.png	frameless	143x143px]]		Indiana
[[File: Secretary Daniel Manning.webp	frameless	167x167px]]		New York			Democratic Party (United States)}};"
(1885–1889)
[[File:Charles S Fairchild - SecofTreasury.jpg	frameless	162x162px]]		New York
[[File:William Windom, Brady-Handy photo portrait, ca1870-1880.jpg	frameless	140x140px]]		Minnesota			Republican Party (United States)}};"
(1889–1893)
[[File:Charles Foster, Brady-Handy photo portrait, ca1865-1880.jpg	frameless	149x149px]]		Ohio
[[File:John Griffin Carlisle, Brady-Handy photo portrait, ca1870-1880.jpg	frameless	161x161px]]		Kentucky			Democratic Party (United States)}};"
(1893–1897)
[[File:Lyman Gage, Bain photo portrait.jpg	frameless	160x160px]]		Illinois			Republican Party (United States)}};"
(1897–1901)
Republican Party (United States)}};"
(1901–1909)
[[File:Leslie Shaw, Bain photo portrait.jpg	150x150px]]		Iowa
[[File:Cortelyou-george-bruce.jpg	125px]]		New York
[[File:Franklin MacVeagh, formal bw photo portrait, 1909.jpg	125px]]		Illinois			Republican Party (United States)}};"
(1909–1913)
[[File:William Gibbs McAdoo, formal photo portrait, 1914.jpg	125px]]		New York			Democratic Party (United States)}};"
(1913–1921)
[[File:Picture of Carter Glass.jpg	125px]]		Virginia
[[File:Picture of David F. Houston.jpg	125px]]		Missouri
[[File:AWMellon.jpg	125px]]		Pennsylvania			Republican Party (United States)}};"
(1921–1923)
Republican Party (United States)}};"
(1923–1929)
Republican Party (United States)}};"
(1929–1933)
[[File:Ogden Livingston Mills.jpg	125px]]		New York
[[File:Woodin2.jpg	125px]]		New York			Democratic Party (United States)}};"
(1933–1945)
[[File:Henry Morgenthau, Jr..jpg	125px]]		New York
[[File:Frederick Vinson portrait.png	125px]]		Kentucky			Democratic Party (United States)}};"
(1945–1953)
[[File:Portrait of John W. Snyder.jpg	125px]]		Missouri
[[File:George M Humphrey.jpg	125px]]		Ohio			Republican Party (United States)}};"
(1953–1961)
[[File:Robert B Anderson.jpeg	125px]]		Connecticut
[[File:C Douglas Dillon.jpg	125px]]		New Jersey			Democratic Party (United States)}};"
(1961–1963)
Democratic Party (United States)}};"
(1963–1969)
[[File:HFowler2.jpg	125px]]		Virginia
[[File:Joseph W Barr.jpg	125px]]		Indiana
[[File:David M Kennedy.jpg	125px]]		Utah			Republican Party (United States)}};"
(1969–1974)
[[File:Portrait of John Connally.jpg	125px]]		Texas
[[File:George Pratt Shultz.jpg	125px]]		Illinois
[[File:William E Simon.jpg	125px]]		New Jersey
Republican Party (United States)}};"
(1974–1977)
[[File:Portrait of W. Michael Blumenthal.jpg	125px]]		Michigan			Democratic Party (United States)}};"
(1977–1981)
[[File:G. William Miller.jpg	125px]]		Rhode Island
[[File:Donaldtregan1.jpg	125px]]		New Jersey			Republican Party (United States)}};"
(1981–1989)
[[File:James A. Baker III, U.S. Secretary of State (2380044355).jpg	125px]]		Texas
–	[[File:M Peter McPherson at lectern in 1981 (cropped).jpg	125px]]
Acting	Michigan
[[File:Nicholas F. Brady - Secretary of the Treasury portrait.jpeg	125px]]		New Jersey
Republican Party (United States)}};"
(1989–1993)
[[File:LloydBentsen.jpg	125px]]		Texas			Democratic Party (United States)}};"
(1993–2001)
–	[[File:Seal of the United States Department of the Treasury.svg	125px]]
Acting	Massachusetts
[[File:Pr4262ls-treasury-rubin.jpg	125px]]		New York
[[File:Lawrence Summers Treasury portrait.jpg	125px]]		Maryland
[[File:OneilllPaul.jpg	125px]]		Pennsylvania			Republican Party (United States)}};"
(2001–2009)
–	[[File:Kenneth Dam.jpg	125px]]
Acting	Illinois
[[File:John W. Snow.jpg	125px]]		Virginia
–	[[File:Robert Kimmitt, official Treasury photo.jpg	125px]]
Acting	Virginia
[[File:Henry Paulson official Treasury photo, 2006.jpg	125px]]		Illinois
–	[[File:Stuart Levey.jpg	125px]]
Acting	Ohio			Democratic Party (United States)}};"
(2009–2017)
[[File:Timothy Geithner official portrait.jpg	125px]]		New York
–	[[File:Neal S. Wolin official portrait.jpg	125px]]
Acting	Illinois
[[File:Jacob Lew official portrait.jpg	125px]]		New York
–	[[File:Adam Szubin.jpg	125px]]
Acting	Washington, D.C.			Republican Party (United States)}};"
(2017–2021)
[[File:Steven Mnuchin official photo (cropped).jpg	125px]]		California
–	[[File:Andy Baukol.jpg	125px]]
Acting	Virginia			Democratic Party (United States)}};"
(2021–2025)
[[File:Secretary Janet Yellen portrait (cropped).jpg	frameless	156x156px]]		California
–	[[File:David Lebryk.jpg	125px]]
Acting	Indiana			Republican Party (United States)}};
(2025–present)
[[File:Official portrait of Treasury Secretary Scott Bessent (cropped).jpg	125px]]		South Carolina		Incumbent

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

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 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 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:

#	Office
1*	Under secretaries of the treasury
2	General Counsel of the Department of the Treasury
3*	Deputy under secretaries of the treasury and those assistant 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

References

"3 U.S. Code § 19 – Vacancy in offices of both President and Vice President; officers eligible to act".
{{UnitedStatesCode. 31. 301
{{UnitedStatesCode. 5. 5312
{{UnitedStatesCode. 50. 3021. 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]].
Rappeport, Alan. (December 8, 2022). "Yellen Is First Female Treasury Secretary With Signature on U.S. Dollar". The New York Times.
{{USC2. 12. 5211. Purchases of troubled assets
"Salary Table No. 2021-EX Rates of Basic Pay for the Executive Schedule (EX)".
(August 16, 2016). "Executive Order on Providing an Order of Succession within the Department of the Treasury".

Info: Wikipedia Source

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