United States Deputy Secretary of the Treasury
{{Short description|US federal role}}
{{Use mdy dates|date=November 2022}}
{{Infobox US Cabinet
| post = Deputy Secretary of the Treasury
| body = the United States
| flag = Flag of the United States Deputy Secretary of the Treasury.svg
| flagsize = 130
| flagcaption = Flag of the Deputy Secretary of Treasury
| insignia = Seal of the United States Department of the Treasury.svg
| insigniasize = 120
| insigniacaption = Seal of the Department of Treasury
| image = Michael W. Faulkender official photo.jpg
| acting =
| incumbent = Michael Faulkender
| incumbentsince = March 28, 2025
| department = United States Department of Treasury
| reports_to = United States Secretary of the Treasury
| seat = Treasury Building
Washington, D.C.
| appointer = President of the United States
| appointer_qualified = with Senate advice and consent
| termlength = No fixed term
| formation = {{start date|1981|02|16}}
| first = R. T. McNamar
| salary = Executive Schedule, level 2
| constituting_instrument = {{USC|31|301}}
| website = {{url|www.treasury.gov}}
}}
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 Department of the Treasury and its activities, and succeeds the Secretary in the secretary's absence, sickness, or unavailability. The Deputy Secretary plays a primary role in the formulation and execution of Treasury policies and programs in all aspects of the Department's activities.{{cite web|title=U.S. Treasury - Duties & Functions of the Deputy Secretary of the Treasury |url=http://www.treas.gov/education/duties/treas/d-sec-treasury.shtml|access-date=September 22, 2007|url-status=dead |archive-url=https://web.archive.org/web/20070915013533/https://www.treas.gov/education/duties/treas/d-sec-treasury.shtml|archive-date=September 15, 2007}}
In addition, the Deputy Secretary is the only official other than the secretary who can sign a Treasury order, which is a document that delegates authority residing in the secretary or Deputy Secretary to another Treasury official, establishes Treasury policy, and establishes the reporting relationships and supervision of officials.{{cite web|title=U.S. Treasury - Orders and Directives |url=http://www.treas.gov/regs/ |access-date=September 22, 2007}} Former deputy secretaries include Roger Altman,{{cite news |title=AllPolitics - Whitewater - Cast of Characters|url=http://www.cnn.com/ALLPOLITICS/resources/1999/whitewater/players.html?eref=sitesearch |access-date=September 22, 2007|work=CNN}} Lawrence Summers,{{cite web|title=History of the President's Office |url=http://www.president.harvard.edu/history/27_summers/summers.html |access-date=September 22, 2007 |archive-url=https://web.archive.org/web/20070704140430/http://www.president.harvard.edu/history/27_summers/summers.html |archive-date=July 4, 2007}} Stuart E. Eizenstat,{{cite web|title=Covington & Burling LLP – Lawyers - Stuart E. Eizenstat |url=http://www.cov.com/lawyers/seizenstat/biography.html|access-date=November 23, 2006 |archive-url=https://web.archive.org/web/20061027180057/http://www.cov.com/lawyers/seizenstat/biography.html|archive-date=October 27, 2006}} Kenneth W. Dam,{{cite web |title=University of Chicago Law School > Kenneth Dam|url=http://www.law.uchicago.edu/faculty/dam/|access-date=September 22, 2007}} and Samuel Bodman.{{cite web|title=Department of Energy - Samuel W. Bodman|url=https://www.energy.gov/organization/samuel_bodman.htm |access-date=September 22, 2007|url-status=dead|archive-url=https://web.archive.org/web/20080611071955/http://www.energy.gov/organization/samuel_bodman.htm |archive-date=June 11, 2008}}
The office of Deputy Secretary is the successor of the "Under Secretary of the Treasury", the former chief deputy to the secretary. Today, several officials hold the title of "Under Secretary" of the Treasury. Among those who served as under secretary when it was the number-two position in the department include Dean Acheson, Henry Morgenthau Jr., John W. Hanes II, and O. Max Gardner (1946–1947).{{cite web|url=http://content.time.com/time/magazine/article/0,9171,787823,00.html|title=The Cabinet: Undersecretary No. 2|date=May 7, 1934|access-date=September 24, 2018|via=content.time.com}}{{Cite web |url=http://www.governoromaxgardner.com/politician.html |title=Governor O. Max Gardner: the politician |access-date=November 10, 2010 |archive-url=https://web.archive.org/web/20110711120344/http://www.governoromaxgardner.com/politician.html |archive-date=July 11, 2011 |url-status=usurped }}
The prior Deputy Secretary was Justin Muzinich. President Donald Trump announced his nomination of Muzinich on March 13, 2018. The nomination was confirmed by the U.S. Senate on a vote of 55–44.{{cite news |last=Jagoda |first=Naomi |date=April 2, 2018 |url=https://thehill.com/policy/finance/381344-trump-names-nominee-to-be-deputy-treasury-secretary/ |title=Trump names nominee to be deputy Treasury secretary|work=The Hill}}{{Cite web|url=https://www.congress.gov/nomination/115th-congress/1803|title=PN1803 - Nomination of Justin George Muzinich for Department of the Treasury, 115th Congress (2017-2018)|date=December 11, 2018|website=Congress.gov|access-date=December 16, 2018}}
List of deputy secretaries of the treasury
Status
{{legend|#E6E6AA|Denotes an acting deputy secretary of the treasury|border=black}}
| class="wikitable" | |
| {{Abbr|No.|Number}}
!Image !Name !Term began !Term ended !Secretaries of the Treasury Serving Under !President(s) served under | |
|---|---|
| rowspan="2" |1
| rowspan="2" |80px | rowspan="2" |R. T. McNamar | rowspan="2" |October 7, 1985 | rowspan="5" |Ronald Reagan | |
| rowspan="3" |James Baker | |
| 2
|80px |August 28, 1987 | |
| rowspan="2" |3
| rowspan="2" |80px | rowspan="2" |M. Peter McPherson | rowspan="2" |October 15, 1987{{cite web|url=https://www.nytimes.com/1987/04/07/business/business-people-aid-head-is-expected-to-get-treasury-post.html|title=BUSINESS PEOPLE; A.I.D. Head Is Expected To Get Treasury Post|website=The New York Times |access-date=September 24, 2018}} | rowspan="2" |January 20, 1989 | |
| rowspan="2" |Nicholas F. Brady | |
| 4
|80px |January 20, 1989 | George H. W. Bush |
| 5
|80px |January 20, 1993 |August 17, 1994 | rowspan="2" |Lloyd Bentsen | rowspan="6" |Bill Clinton | |
| rowspan="2" |6
| rowspan="2" |80px | rowspan="2" |Frank N. Newman{{cite web|url=http://www.nndb.com/people/301/000127917/|title=Frank N. Newman|website=www.nndb.com|access-date=September 24, 2018}} | rowspan="2" |September 28, 1994{{cite web|url=https://www.congress.gov/nomination/103rd-congress/1713|title=PN1713 — Frank N. Newman — Department of the Treasury|website=congress.gov|access-date=October 24, 2018}} | rowspan="2" |March 5, 1995 | |
| rowspan="3" |Robert Rubin | |
| 7
|80px |March 11, 1995 |July 2, 1999 | |
| rowspan="2" |8
| rowspan="2" |80px | rowspan="2" |Stuart E. Eizenstat | rowspan="2" |July 16, 1999 | rowspan="2" |January 20, 2001 | |
| Lawrence Summers | |
| 9
|80px |January 20, 2001 |July 13, 2004 | rowspan="4" |George W. Bush | |
| 10
|80px |August 2004 |January 31, 2005 | rowspan="2" |John W. Snow | |
| rowspan="2" |11
| rowspan="2" |80px | rowspan="2" |Robert M. Kimmitt | rowspan="2" |August 16, 2005 | rowspan="2" |January 20, 2009 | |
| Henry Paulson | |
| 12
|80px |May 18, 2009 |August 31, 2013 | rowspan="3" |Barack Obama | |
| style="background:#e6e6aa;" |–
| style="background:#e6e6aa;" |80px | style="background:#e6e6aa;" |Mary J. Miller | style="background:#e6e6aa;" |August 31, 2013 | style="background:#e6e6aa;" |March 19, 2014 | rowspan="2" |Jack Lew | |
| 13
|80px |March 19, 2014 |January 20, 2017 | |
| style="background:#e6e6aa;" |–
| style="background:#e6e6aa;" |80px | style="background:#e6e6aa;" |Sigal Mandelker | style="background:#e6e6aa;" |June 26, 2017 | style="background:#e6e6aa;" |December 12, 2018 | rowspan="2" |Steve Mnuchin | rowspan="2" |Donald Trump | |
| 14
|80px |December 12, 2018 |January 20, 2021 | |
| 15
|80px |March 26, 2021 |January 20, 2025 | |
| style="background:#e6e6aa;" |–
| style="background:#e6e6aa;" |80px | style="background:#e6e6aa;" |David Lebryk | style="background:#e6e6aa;" |January 20, 2025 | style="background:#e6e6aa;" |January 31, 2025 | rowspan="2" |Scott Bessent | rowspan="2" |Donald Trump | |
| style="background:#e6e6aa;" |–
| style="background:#e6e6aa;" |80px | style="background:#e6e6aa;" |Dan Katz | style="background:#e6e6aa;" |February 3, 2025 | style="background:#e6e6aa;" |March 28, 2025 | |
| 16
|80px |March 28, 2025 |Incumbent |
References
{{reflist|30em}}
{{US Treasury agencies}}
{{US Cabinet deputy leaders}}
{{DEFAULTSORT:United States Deputy Secretary Of The Treasury}}