Difference between revisions of "U.S. Department of the Treasury"

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{{RSS|feed=http://news.google.com/news?hl=en&gl=us&q=U.S.+Department+Treasury&um=1&ie=UTF-8&output=rss|template=slpfeed|max=10|title=U.S. Department of the Treasury News Feed}}
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==See also==
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{|
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|-
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*[[Portal:Federal Affairs|Federal Affairs portal]]
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*[[U.S. Department of Defense]]
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*[[U.S. Department of Homeland Security]]
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*[[U.S. Department of Justice]]
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*[[U.S. Department of Commerce]]
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*[[U.S. Department of Labor]]
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*[[U.S. Department of Energy]]
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*[[U.S. Department of Agriculture]]
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*[[U.S. Department of the State]]
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*[[U.S. Department of Education]]
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*[[U.S. Department of Transportation]]
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*[[U.S. Department of the Interior]]
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*[[U.S. Department of Health and Human Services]]
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*[[U.S. Department of Veterans Affairs]]
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*[[U.S. Department of Housing and Urban Development]]
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==External links==
 
==External links==

Revision as of 14:29, 30 June 2014

Department of the Treasury
US-DeptOfTheTreasury-Seal.svg
Secretary:Jack Lew
Deputy Secretary:Neal S. Wolin
Annual budget:$110.2 billion (2013)
Total employed:96,232 (2011)
Year created:1789
Official website:http://www.treasury.gov/

FederalAffairsLogo-01.png

Executive Departments of the United States

Executive Departments
Department of DefenseDepartment of StateDepartment of Homeland SecurityDepartment of JusticeDepartment of CommerceDepartment of EducationDepartment of the TreasuryDepartment of AgricultureDepartment of EnergyDepartment of LaborDepartment of TransportationDepartment of the InteriorDepartment of Health and Human ServicesDepartment of Veterans AffairsDepartment of Housing and Urban Development

Department Secretaries
Chuck HagelJohn KerryJeh JohnsonEric HolderPenny PritzkerArne DuncanJack LewTom VilsackErnest MonizTom PerezAnthony FoxxSally JewellSylvia Mathews BurwellRobert McDonaldJulian Castro
The Department of the Treasury is a United States executive department established in 1789. The Department was originally formed as a solution to managing the finances of the federal government.[1] The Department is led by the current Secretary of the Treasury, Jack Lew.

The Department employs 96,000 employees in major divisions such as the Bureau of Engraving and Printing (BEP), the Internal Revenue Service (IRS) and the U.S. Mint.[2][3] The Bureau of Alcohol, Tobacco, Firearms and Explosives, U.S. Customs and the U.S. Secret Service were bureaus of the Department until 2003.[3] The Department's operating budget for fiscal year 2013 was $110.2 billion.[4]

History

On April 1, 1776, the Treasury Office of Accounts was formed to maintain the accounts of the rebel colonies. This allowed the colonies to seek loans after the Declaration of Independence was signed on July 4, 1776.[1] The subsequent years saw a steep decline in the value of Continental Dollars until Robert Morris was appointed Superintendent of the Treasury in 1781. In 1789, the First Congress of the United States created the Department of the Treasury, with Alexander Hamilton becoming the first Secretary of the Treasury.[1]

Many departments and agencies have taken root in the Treasury Department before breaking off. The U.S. Post Office, Commerce Department, Drug Enforcement Administration, Office of Management and Budget, Department of Health and Human Services and even the U.S. Coast Guard were in some way responsibilities of the Treasury Department early in their development. At the 1944 Bretton Woods Conference, the Department played a strong role in the formation of the International Monetary Fund and the World Bank.[1]

Structure

Mission

The Department of the Treasury website states the mission:

Maintain a strong economy and create economic and job opportunities by promoting conditions

that enable economic growth and stability at home and abroad, strengthen national security by combating threats and protecting the integrity of the financial system, and manage the U.S. Government’s finances and resources.[5][6]

Leadership

The current Secretary of the Treasury is Jack Lew. The duties of the Secretary include:[1]

  • Managing economic and fiscal policy
  • Handling government accounting and debt management
  • Promulgating and enforcing tax and tariff laws
  • Assessing and collecting internal revenue
  • Producing currency
  • Supervising national banks

Note: Votes marked "N/A" represent voice votes or unrecorded votes.


Departments

Office of the Secretary of the Treasury

The Secretary is charged with advising the President on economic and fiscal policy. The Secretary also serves as the Chief Financial Officer of the federal government as well as overseeing the Treasury Department. The head of the Department is also responsible for representing the U.S. in international organizations such as the International Monetary Fund and regional development banks.[1]

Office of the Deputy Secretary of the Treasury

The Deputy Secretary assists the Secretary in running the Department and is responsible for leading the Department in the absence of the Secretary.[1]

Office of the Treasurer of the United States

The Treasurer of the United States must receive, hold and disburse government funds. The Treasurer's signature is present on all U.S. paper money along with the Secretary's signature.[1]

Organizational chart

DOTreasury-organizational-chart.jpg

Analysis

Budget

Obama administration

U.S. Department of the Treasury[7] Annual Budget
YearBudget (in billions)% Difference from previous year
2014$16.17.33%
2013$15.00.67%
2012$14.9-1.32%
2011$15.1-3.21%
2010$15.66.85%
2009$14.6N/A
  • Note: 2014 only represents the Department's budget request, not an enacted budget.

Employment

The Best Places to work in the Federal Government is a website that tracks workforce trends in federal agencies. According to their analysis, from 2005-2011, the Department of the Treasury has lost an average of 545 jobs per year.[8]

Sequestration

The Department expected 5 furlough days would be mandatory for employees.[9]

Recent news

This section displays the most recent stories in a Google news search for the term U.S. + Department + Treasury

All stories may not be relevant to this page due to the nature of the search engine.

U.S. Department of the Treasury News Feed

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See also

External links

References