United States Secretary of the Treasury

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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,[1] 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.[2] The current secretary of the treasury has been Scott 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 the United States government; and in manufacturing coins and currency. 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.

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The secretary along with the treasurer of the United States must sign Federal Reserve notes before they can become legal tender.[4] The secretary also manages the United States Emergency Economic Stabilization fund.[5]

Salary

The secretary of the treasury is a Level I position in the Executive Schedule,5|5312-6|[6] thus earning the salary prescribed for that level ($250,600 as of January 2024).[7]

List of secretaries of the treasury

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.[8]

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, is confirmed by the United States Senate.

Parties

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Status

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  Denotes an acting secretary of the treasury
No. Portrait Name State of residence Took office Left office President(s)
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />1 File:Alexander Hamilton, by Trumbull.jpg Template:Sortname New York Template:Dts Template:Dts rowspan=2 style="background: Template:Party color;" | Template:Sortname
(1789–1797)
rowspan=2 style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />2 File:Oliver Wolcott Jr by Gilbert Stuart circa 1820.jpeg Template:Sortname Connecticut Template:Dts Template:Dts
rowspan=2 style="background: Template:Party color;" | Template:Sortname
(1797–1801)
rowspan=2 style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />3 File:Samuel Dexter.jpg Template:Sortname Massachusetts Template:Dts Template:Dts
rowspan=2 style="background: Template:Party color;" | Template:Sortname
(1801–1809)
rowspan=2 style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />4 File:Albert Gallatin 3.JPG Template:Sortname Pennsylvania Template:Dts Template:Dts Template:Sortname
(1809–1817)
rowspan=5 style="background: Template:Party color;" |
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />5 File:George W Campbell cph.3a00320.jpg Template:Sortname Tennessee Template:Dts Template:Dts
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />6 File:Alexander J. Dallas.jpg Template:Sortname Pennsylvania Template:Dts Template:Dts
File:Secratary of the Navy, William Jones.jpg Template:Sortname
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Pennsylvania Template:Dts Template:Dts
rowspan=2 style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />7 File:Portrait of William Harris Crawford.jpg Template:Sortname Georgia Template:Dts Template:Dts
style="background: Template:Party color;" | Template:Sortname
(1817–1825)
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />8 File:RUSH, Richard-BEP069-Treasury (BEP engraved portrait).jpg Template:Sortname Pennsylvania Template:Dts Template:Dts style="background: Template:Party color;" | Template:Sortname
(1825–1829)
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />9 File:SIng.jpg Template:Sortname Pennsylvania Template:Dts Template:Dts rowspan=5 style="background: Template:Party color;" | Template:Sortname
(1829–1837)
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />10 File:Louis McLane (Treasury Secretary, BEP engraved portrait, cropped).jpg Template:Sortname Delaware Template:Dts Template:Dts
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />11 File:William J Duane.jpg Template:Sortname Pennsylvania Template:Dts Template:Dts
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />12 File:Roger Taney.jpg Template:Sortname Maryland Template:Dts Template:Dts
rowspan=2 style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />13 File:Secretary of the Navy, Levi Woodbury.jpg Template:Sortname New Hampshire Template:Dts Template:Dts
style="background: Template:Party color;" | Template:Sortname
(1837–1841)
rowspan=2 style="background: Template:Party color;" |14 File:ThomasEwingSr.jpg Template:Sortname Ohio Template:Dts Template:Dts style="background: Template:Party color;" | Template:Sortname
(1841)
rowspan=4 style="background: Template:Party color;" | Template:Sortname
(1841–1845)
style="background: Template:Party color;" |15 File:WForward-SecofTreas.jpg Template:Sortname Pennsylvania Template:Dts Template:Dts
style="background: Template:Party color;" |16 File:SPENCER, John C-Treasury (BEP engraved portrait) (cropped).jpg Template:Sortname New York Template:Dts Template:Dts
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />17 File:George M. Bibb - Brady-Handy.jpg Template:Sortname Kentucky Template:Dts Template:Dts
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />18 File:Hon. Robert J. Walker, Miss - NARA - 528738.jpg Template:Sortname Mississippi Template:Dts Template:Dts style="background: Template:Party color;" | Template:Sortname
(1845–1849)
style="background: Template:Party color;" |19 File:WMMeredith.jpg Template:Sortname Pennsylvania Template:Dts Template:Dts style="background: Template:Party color;" | Template:Sortname
(1849–1850)
style="background: Template:Party color;" |20 File:TCorwin.jpg Template:Sortname Ohio Template:Dts Template:Dts style="background: Template:Party color;" | Template:Sortname
(1850–1853)
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />21 File:James-Guthrie-(wreaths).jpg Template:Sortname Kentucky Template:Dts Template:Dts style="background: Template:Party color;" | Template:Sortname
(1853–1857)
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />22 File:Cobb, Howell2.jpg Template:Sortname Georgia Template:Dts Template:Dts rowspan=3 style="background: Template:Party color;" | Template:Sortname
(1857–1861)
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />23 File:Philip Francis Thomas, sitting.jpg Template:Sortname Maryland Template:Dts Template:Dts
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />24 File:John adams dix.jpg Template:Sortname New York Template:Dts Template:Dts
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />25 File:Mathew Brady, Portrait of Secretary of the Treasury Salmon P. Chase, officer of the United States government (1860–1865, full version).jpg Template:Sortname Ohio Template:Dts Template:Dts rowspan=3 style="background: Template:Party color;" | Template:Sortname
(1861–1865)
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />26 File:Hon. William P. Fessenden, Maine - NARA - 529980.jpg Template:Sortname Maine Template:Dts Template:Dts
rowspan=2 style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />27 File:Hugh McCulloch.png Template:Sortname Indiana Template:Dts Template:Dts
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(1865–1869)
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />28 File:George Boutwell, Brady-Handy photo portrait, ca1870-1880.jpg Template:Sortname Massachusetts Template:Dts Template:Dts rowspan=4 style="background: Template:Party color;" | Template:Sortname
(1869–1877)
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />29 File:William Adams Richardson Brady-Handy.tif Template:Sortname Massachusetts Template:Dts Template:Dts
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />30 File:Benjamin Helm Bristow Brady - Handy U.S. Secretary of Treasury.jpg Template:Sortname Kentucky Template:Dts Template:Dts
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />31 File:Lot M. Morrill Brady-Handy Portrait Photo.jpg Template:Sortname Maine Template:Dts Template:Dts
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />32 File:John-Sherman-2.jpg Template:Sortname Ohio Template:Dts Template:Dts style="background: Template:Party color;" | Template:Sortname
(1877–1881)
rowspan=2 style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />33 File:William Windom, Brady-Handy photo portrait, ca1870-1880.jpg Template:Sortname Minnesota Template:Dts Template:Dts style="background: Template:Party color;" | Template:Sortname
(1881)
rowspan=4 style="background: Template:Party color;" | Template:Sortname
(1881–1885)
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />34 File:Secretary Charles J. Folger.jpg Template:Sortname New York Template:Dts Template:Dts
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />35 File:Walter Q. Gresham - Brady-Handy.jpg Template:Sortname Indiana Template:Dts Template:Dts
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />36 File:Hugh McCulloch.png Template:Sortname Indiana Template:Dts Template:Dts
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />37 File:Secretary Daniel Manning.webp Template:Sortname New York Template:Dts Template:Dts rowspan=2 style="background: Template:Party color;" | Template:Sortname
(1885–1889)
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />38 File:Charles S Fairchild - SecofTreasury.jpg Template:Sortname New York Template:Dts Template:Dts
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />39 File:William Windom, Brady-Handy photo portrait, ca1870-1880.jpg Template:Sortname Minnesota Template:Dts Template:Dts rowspan=2 style="background: Template:Party color;" | Template:Sortname
(1889–1893)
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />40 File:Charles Foster, Brady-Handy photo portrait, ca1865-1880.jpg Template:Sortname Ohio Template:Dts Template:Dts
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />41 File:John Griffin Carlisle, Brady-Handy photo portrait, ca1870-1880.jpg Template:Sortname Kentucky Template:Dts Template:Dts style="background: Template:Party color;" | Template:Sortname
(1893–1897)
rowspan=2 style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />42 File:Lyman Gage, Bain photo portrait.jpg Template:Sortname Illinois Template:Dts Template:Dts style="background: Template:Party color;" | Template:Sortname
(1897–1901)
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(1901–1909)
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style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />44 File:Cortelyou-george-bruce.jpg Template:Sortname New York Template:Dts Template:Dts
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />45 File:Franklin MacVeagh, formal bw photo portrait, 1909.jpg Template:Sortname Illinois Template:Dts Template:Dts style="background: Template:Party color;" | Template:Sortname
(1909–1913)
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />46 File:William Gibbs McAdoo, formal photo portrait, 1914.jpg Template:Sortname New York Template:Dts Template:Dts rowspan=3 style="background: Template:Party color;" | Template:Sortname
(1913–1921)
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />47 File:Picture of Carter Glass.jpg Template:Sortname Virginia Template:Dts Template:Dts
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />48 File:Picture of David F. Houston.jpg Template:Sortname Missouri Template:Dts Template:Dts
rowspan=3 style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />49 File:AWMellon.jpg Template:Sortname Pennsylvania Template:Dts Template:Dts style="background: Template:Party color;" | Template:Sortname
(1921–1923)
style="background: Template:Party color;" | Template:Sortname
(1923–1929)
rowspan=2 style="background: Template:Party color;" | Template:Sortname
(1929–1933)
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />50 File:Ogden Livingston Mills.jpg Template:Sortname New York Template:Dts Template:Dts
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />51 File:Woodin2.jpg Template:Sortname New York Template:Dts Template:Dts rowspan=2 style="background: Template:Party color;" | Template:Sortname
(1933–1945)
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />52 File:Henry Morgenthau, Jr..jpg Template:Sortname New York Template:Dts Template:Dts
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />53 File:Frederick Vinson portrait.png Template:Sortname Kentucky Template:Dts Template:Dts rowspan=2 style="background: Template:Party color;" | Template:Sortname
(1945–1953)
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />54 File:Portrait of John W. Snyder.jpg Template:Sortname Missouri Template:Dts Template:Dts
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />55 File:George M Humphrey.jpg Template:Sortname Ohio Template:Dts Template:Dts rowspan=2 style="background: Template:Party color;" | Template:Sortname
(1953–1961)
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />56 File:Robert B Anderson.jpeg Template:Sortname Connecticut Template:Dts Template:Dts
rowspan=2 style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />57 File:C Douglas Dillon.jpg Template:Sortname New Jersey Template:Dts Template:Dts style="background: Template:Party color;" | Template:Sortname
(1961–1963)
rowspan=3 style="background: Template:Party color;" | Template:Sortname
(1963–1969)
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />58 File:HFowler2.jpg Template:Sortname Virginia Template:Dts Template:Dts
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />59 File:Joseph W Barr.jpg Template:Sortname Indiana Template:Dts Template:Dts
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />60 File:David M Kennedy.jpg Template:Sortname Utah Template:Dts Template:Dts rowspan=4 style="background: Template:Party color;" | Template:Sortname
(1969–1974)
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />61 File:Portrait of John Connally.jpg Template:Sortname Texas Template:Dts Template:Dts
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />62 File:George Pratt Shultz.jpg Template:Sortname Illinois Template:Dts Template:Dts
rowspan=2 style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />63 File:William E Simon.jpg Template:Sortname New Jersey Template:Dts Template:Dts
style="background: Template:Party color;" | Template:Sortname
(1974–1977)
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />64 File:Portrait of W. Michael Blumenthal.jpg Template:Sortname Michigan Template:Dts Template:Dts rowspan=2 style="background: Template:Party color;" | Template:Sortname
(1977–1981)
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />65 File:G. William Miller.jpg Template:Sortname Rhode Island Template:Dts Template:Dts
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />66 File:Donaldtregan1.jpg Template:Sortname New Jersey Template:Dts Template:Dts rowspan=4 style="background: Template:Party color;" | Template:Sortname
(1981–1989)
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />67 File:James A. Baker III, U.S. Secretary of State (2380044355).jpg Template:Sortname Texas Template:Dts Template:Dts
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(1989–1993)
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />69 File:LloydBentsen.jpg Template:Sortname Texas Template:Dts Template:Dts rowspan=4 style="background: Template:Party color;" | Template:Sortname
(1993–2001)
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style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />70 File:Pr4262ls-treasury-rubin.jpg Template:Sortname New York Template:Dts Template:Dts
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />71 File:Lawrence Summers Treasury portrait.jpg Template:Sortname Maryland Template:Dts Template:Dts
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />72 File:OneilllPaul.jpg Template:Sortname Pennsylvania Template:Dts Template:Dts rowspan=5 style="background: Template:Party color;" | Template:Sortname
(2001–2009)
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style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />73 File:John W. Snow.jpg Template:Sortname Virginia Template:Dts Template:Dts
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style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />74 File:Henry Paulson official Treasury photo, 2006.jpg Template:Sortname Illinois Template:Dts Template:Dts
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(2009–2017)
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(2017–2021)
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(2021–2025)
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />78 File:Secretary Janet Yellen portrait (cropped).jpg Template:Sortname California Template:Dts Template:Dts
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(2025–present)
style="background: Template:Party color;" |<templatestyles src="Template:Color/styles.css" />79 File:Official portrait of Treasury Secretary Scott Bessent (cropped).jpg Template:Sortname South Carolina Template:Dts Incumbent
File:Flag of the United States Secretary of the Treasury (1887–1915).png
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.3|19-9|[9]

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:[10]

# 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

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References

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External links

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Preceded byas retired Associate Justice of the United States Supreme Court Template:S-bef/check Order of precedence of the United States
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Template:S-aft/check Succeeded byas Secretary of Defense
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