United States Secretary of the Treasury: Difference between revisions

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| flagborder = yes
| flagsize = 130
| flagcaption = Flag of the Secretarysecretary of the Treasury
| insignia = Seal of the United States Department of the Treasury.svg
| insigniasize = 120
| insigniacaption = Seal of the [[United States Department of the Treasury|Department of the Treasury]]
| image = Secretary Janet Yellen portrait (cropped).jpg
| incumbent = [[Janet Yellen]]
| incumbentsince = January 26, 2021
| department = [[United States Department of the Treasury|Department of the Treasury]]
| style = Madam Secretary (informal)<br/>[[The Honourable#United States|The Honorable]] (formal)
| member_of = [[Cabinet of the United States|Cabinet]]<br/>[[United States National Security Council|National Security Council]]
| reports_to = [[President of the United States|President]]
| seat = [[Treasury Building (Washington, D.C.)|Treasury Building]]<br />[[Washington, D.C.]]
| appointer = [[President of the United States|President]]
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| formation = {{start date and age|1789|9|11}}
| first = [[Alexander Hamilton]]
| succession = [[United States presidential line of succession|Fifth]]<ref name="UnitedStatesCode|3|19">{{cite web |url=https://www.law.cornell.edu/uscode/text/3/19|title=3 U.S. Code § 19 – Vacancy in offices of both President and Vice President; officers eligible to act|website=LII / Legal Information Institute|access-date=February 4, 2017|archive-date=December 26, 2018|archive-url=https://web.archive.org/web/20181226123834/https://www.law.cornell.edu/uscode/text/3/19|url-status=live}} </ref>
| deputy = [[United States Deputy Secretary of the Treasury|Deputy Secretary of the Treasury]]<ref>{{UnitedStatesCode|31|301}}</ref>
| salary = [[Executive Schedule|Executive Schedule, Level I]]<ref name="UnitedStatesCode|5|5312">{{UnitedStatesCode|5|5312}}</ref>
| website = {{url|https://home.treasury.gov/|treasury.gov}}
}}
 
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 [[Cabinet of the United States|president's cabinet]] and, by law, a member of the [[United States National Security Council|National Security Council]].<ref>{{USC2UnitedStatesCode|50|3021|National Security Council}}</ref>
 
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 [[United States Senate Committee on Finance|Senate Committee on Finance]], is confirmed by the [[United States Senate]].
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The [[United States Secretary of State|secretary of state]], the secretary of the treasury, the [[United States Secretary of Defense|secretary of defense]], and the [[United States Attorney General|attorney general]] are generally regarded as the four most important Cabinet officials, due to the size and importance of their respective departments.<ref>''Cabinets and Counselors: The President and the Executive Branch'' (1997). [[Congressional Quarterly]]. p. 87.</ref>
 
The current secretary of the treasury is [[Janet Yellen]], who is the first woman to hold the postoffice.<ref>{{cite press release |author=<!--Not stated--> |title=Janet L. Yellen Sworn In As 78th Secretary of the United States Department of the Treasury |url=https://home.treasury.gov/news/press-releases/jy0002 |url-status=live |location=Washington, D.C. |publisher=U.S. Department of the Treasury |date=January 26, 2021 |archive-url=https://web.archive.org/web/20210127105142/https://home.treasury.gov/news/press-releases/jy0002 |archive-date=January 27, 2021 |access-date=January 27, 2021}}</ref><ref>{{cite web |url=https://www.cnn.com/2021/01/25/economy/yellen-treasury-secretary-first-woman/index.html |title=Janet Yellen is confirmed as the first female Treasury secretary in US history |last1=Tappe |first1=Anneken |last2=Egan |first2=Matt |date=January 25, 2021 |website=cnn.comCNN |archive-url=https://web.archive.org/web/20210126004747/https://www.cnn.com/2021/01/25/economy/yellen-treasury-secretary-first-woman/index.html |archive-date=January 26, 2021 |url-status=live |access-date=January 26, 2021}}</ref>
 
==Powers and functions==
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==Salary==
The secretary of the treasury is a [[Executive Schedule#Level I|Level I position in the Executive Schedule]],<ref andname="UnitedStatesCode|5|5312"/> thus earnsearning the salary prescribed for that level ([[US Dollar|US$]]221246,400, as of January 20212024).<ref>{{cite web |urltitle=https://wwwSalary Table No.opm.gov/policy 2021-data-oversight/pay-leave/salaries-wages/salary-tables/pdf/2021/EX.pdf Rates of Basic Pay for the Executive Schedule (EX) |archive-url=https://ghostarchive.org/archive/20221010/https://www.opm.gov/policy-data-oversight/pay-leave/salaries-wages/salary-tables/pdf/20212024/EX.pdf |archive-date=October 10, 2022 |url-status=live|title=Salary Table No. 2021-EX Rates of Basic Pay for the Executive Schedule (EX)}}</ref><ref name="UnitedStatesCode|5|5312"/>
 
==List of secretaries of the treasury==
{{split section|date=August 2023}}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 [[Cabinet of the United States|president's cabinet]] and, by law, a member of the [[United States National Security Council|National Security Council]].<ref>{{UnitedStatesCode|50|3021|National Security Council}}</ref>
 
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 [[United States Senate Committee on Finance|Senate Committee on Finance]], is confirmed by the [[United States Senate]].
 
; Parties
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|-
| rowspan="2" style="background: {{party color|Democratic-Republican Party}};" |
| rowspan="2" |[[Thomas Jefferson]]
|-
! rowspan="2" style="background: {{party color|Democratic-Republican Party}};" |{{color|white|4}}
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| rowspan="2" |May 14, 1801
| rowspan="2" |February 8, 1814
| rowspan="56" |[[James Madison]]
|-
| rowspan="5" style="background: {{party color|Democratic-Republican Party}};" |
| rowspan="5" |[[James Madison]]
|-
! style="background: {{party color|Democratic-Republican Party}};" |{{color|white|5}}
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|-
! rowspan="2" style="background: {{party color|Republican Party (United States)}};" |{{color|white|68}}
| rowspan="2" |[[File:Nicholas FrederickF. Brady - Secretary of the Treasury portrait.jpgjpeg|125px]]
| rowspan="2" |[[Nicholas F. Brady]]
| rowspan="2" |[[New Jersey]]
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|}
 
[[File:Flag of the United States Secretary of the Treasury (1887-1915).png|thumb|right|The formerFormer flag of the U.S. secretarySecretary of the treasuryTreasury, originating from the 19th century.]]
 
==Succession==
===Presidential succession===
The secretary of the treasury is fifth in the [[United States presidential line of succession|presidential line of succession]], following the [[United States Secretary of State|secretary of state]] and preceding the [[United States Secretary of Defense|secretary of defense]].<ref>{{ name="UnitedStatesCode|3|19}}.<"/ref>
 
===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 [[United States Deputy Secretary of the Treasury|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:<ref>{{Cite web|title=Executive Order on Providing an Order of Succession within the Department of the Treasury|url=https://www.federalregister.gov/documents/2016/08/17/2016-19723/providing-an-order-of-succession-within-the-department-of-the-treasury|date=August 16, 2016|language=en-US|access-date=January 9, 2022|archive-date=September 25, 2021|archive-url=https://web.archive.org/web/20210925221931/https://www.federalregister.gov/documents/2016/08/17/2016-19723/providing-an-order-of-succession-within-the-department-of-the-treasury|url-status=live}} {{PD-notice}}</ref>
===Secretary succession===
On August 16, 2016, President [[Barack Obama]] modified the order of succession for officers who shall act as and perform the functions and duties of the office of Secretary of the Treasury during any period when both the secretary and the [[United States Deputy Secretary of the Treasury|deputy secretary of the treasury]] have died, resigned, or are otherwise unable to perform the functions and duties of the office of Secretary in Executive Order 13735. The order of succession is:<ref>{{Cite web|title=Executive Order on Providing an Order of Succession within the Department of the Treasury|url=https://www.federalregister.gov/documents/2016/08/17/2016-19723/providing-an-order-of-succession-within-the-department-of-the-treasury|date=August 16, 2016|language=en-US|access-date=January 9, 2022}}</ref>
{| class="wikitable"
|+
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|-
|2
|[[Office of the General Counsel for the Department of the Treasury|General Counsel of the Department of the Treasury]]
|-
|3*
|Deputy Under Secretaries of the Treasury and those [[United States Assistant Secretary of the Treasury|Assistant Secretaries of the Treasury]] appointed by the President by and with the consent of the Senate
|-
|4
|[[Chief of Staff to the United States Secretary of the Treasury|Chief of Staff]]
|Chief of Staff
|-
|5
|[[Assistant Secretary of the Treasury for Management|Assistant Secretary for Management]]
|-
|6
|[[Fiscal Assistant Secretary of the Treasury|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]]
|-
|*