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
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,
List of secretaries of the treasury
; Parties
(4)
(4)
(30)
(5)
(35)
(1)
Status
{|class="wikitable sortable" style="clear:right; text-align:center"
|-
!No.
!class=unsortable |Portrait
!Name
!State of residence
!Took office
!Left office
!colspan=2 |President(s)
|-
!style="background: ;" |
|alt=|frameless|150x150px
|
|New York
|
|
|rowspan=2 style="background: ;" |
|rowspan=2 |<br>(1789–1797)
|-
!rowspan=2 style="background: ;" |
|rowspan=2 |alt=|frameless|149x149px
|rowspan=2 |
|rowspan=2 |Connecticut
|rowspan=2 |
|rowspan=2 |
|-
|rowspan=2 style="background: ;" |
|rowspan=2 |<br>(1797–1801)
|-
!rowspan=2 style="background: ;" |
|rowspan=2 |alt=|frameless|166x166px
|rowspan=2 |
|rowspan=2 |Massachusetts
|rowspan=2 |
|rowspan=2 |
|-
|rowspan=2 style="background: ;" |
|<br>(1801–1809)
|-
!rowspan=2 style="background: ;" |
|rowspan=2 |alt=|frameless|190x190px
|rowspan=2 |
|rowspan=2 |Pennsylvania
|rowspan=2 |
|rowspan=2 |
|rowspan=6 |<br>(1809–1817)
|-
|rowspan=5 style="background: ;" |
|-
!style="background: ;" |
|alt=|frameless|161x161px
|
|Tennessee
|
|
|-
!style="background: ;" |
|frameless|158x158px
|
|Pennsylvania
|
|
|-
|style="background:#e6e6aa;" |–
|style="background:#e6e6aa;" |125px
|style="background:#e6e6aa;" |<br />
|style="background:#e6e6aa;" |Pennsylvania
|style="background:#e6e6aa;" |
|style="background:#e6e6aa;" |
|-
!rowspan=2 style="background: ;" |
|rowspan=2 |frameless|158x158px
|rowspan=2 |
|rowspan=2 |Georgia
|rowspan=2 |
|rowspan=2 |
|-
|style="background: ;" |
|<br>(1817–1825)
|-
!style="background: ;" |
|alt=|frameless|167x167px
|
|Pennsylvania
|
|
|style="background: ;" |
|<br>(1825–1829)
|-
!style="background: ;" |
|alt=|frameless|154x154px
|
|Pennsylvania
|
|
|rowspan=5 style="background: ;" |
|rowspan=5 |<br>(1829–1837)
|-
!style="background: ;" |
|frameless|154x154px
|
|Delaware
|
|
|-
!style="background: ;" |
|alt=|frameless|159x159px
|
|Pennsylvania
|
|
|-
!style="background: ;" |
|frameless|153x153px
|
|Maryland
|
|
|-
!rowspan=2 style="background: ;" |
|rowspan=2 |frameless|149x149px
|rowspan=2 |
|rowspan=2 |New Hampshire
|rowspan=2 |
|rowspan=2 |
|-
|style="background: ;" |
|<br>(1837–1841)
|-
!rowspan=2 style="background: ;" |14
|rowspan=2 |frameless|160x160px
|rowspan=2 |
|rowspan=2 |Ohio
|rowspan=2 |
|rowspan=2 |
|style="background: ;" |
|<br>(1841)
|-
|rowspan=4 style="background: ;" |
|rowspan=4 |<br>(1841–1845)
|-
!style="background: ;" |15
|frameless|150x150px
|
|Pennsylvania
|
|
|-
!style="background: ;" |16
|frameless|157x157px
|
|New York
|
|
|-
!style="background: ;" |
|frameless|188x188px
|
|Kentucky
|
|
|-
!style="background: ;" |
|frameless|147x147px
|
|Mississippi
|
|
|style="background: ;" |
|<br>(1845–1849)
|-
!style="background: ;" |19
|frameless|160x160px
|
|Pennsylvania
|
|
|style="background: ;" |
|<br>(1849–1850)
|-
!style="background: ;" |20
|frameless|154x154px
|
|Ohio
|
|
|style="background: ;" |
|<br>(1850–1853)
|-
!style="background: ;" |
|frameless|144x144px
|
|Kentucky
|
|
|style="background: ;" |
|<br>(1853–1857)
|-
!style="background: ;" |
|frameless|154x154px
|
|Georgia
|
|
|rowspan=3 style="background: ;" |
|rowspan=3 |<br>(1857–1861)
|-
!style="background: ;" |
|frameless|176x176px
|
|Maryland
|
|
|-
!style="background: ;" |
|frameless|159x159px
|
|New York
|
|
|-
!style="background: ;" |
|frameless|141x141px
|
|Ohio
|
|
|rowspan=3 style="background: ;" |
|rowspan=3 |<br>(1861–1865)
|-
!style="background: ;" |
|frameless|147x147px
|
|Maine
|
|
|-
!rowspan=2 style="background: ;" |
|rowspan=2 |frameless|143x143px
|rowspan=2 |
|rowspan=2 |Indiana
|rowspan=2 |
|rowspan=2 |
|-
|style="background: ;" |
|<br>(1865–1869)
|-
!style="background: ;" |
|frameless|148x148px
|
|Massachusetts
|
|
|rowspan=4 style="background: ;" |
|rowspan=4 |<br>(1869–1877)
|-
!style="background: ;" |
|frameless|172x172px
|
|Massachusetts
|
|
|-
!style="background: ;" |
|frameless|172x172px
|
|Kentucky
|
|
|-
!style="background: ;" |
|frameless|167x167px
|
|Maine
|
|
|-
!style="background: ;" |
|frameless|151x151px
|
|Ohio
|
|
|style="background: ;" |
|<br>(1877–1881)
|-
!rowspan=2 style="background: ;" |
|rowspan=2 |frameless|140x140px
|rowspan=2 |
|rowspan=2 |Minnesota
|rowspan=2 |
|rowspan=2 |
|style="background: ;" |
|<br>(1881)
|-
|rowspan=4 style="background: ;" |
|rowspan=4 |<br>(1881–1885)
|-
!style="background: ;" |
|frameless|192x192px
|
|New York
|
|
|-
!style="background: ;" |
|frameless|150x150px
|
|Indiana
|
|
|-
!style="background: ;" |
|frameless|143x143px
|
|Indiana
|
|
|-
!style="background: ;" |
|frameless|167x167px
|
|New York
|
|
|rowspan=2 style="background: ;" |
|rowspan=2 |<br>(1885–1889)
|-
!style="background: ;" |
|frameless|162x162px
|
|New York
|
|
|-
!style="background: ;" |
|frameless|140x140px
|
|Minnesota
|
|
|rowspan=2 style="background: ;" |
|rowspan=2 |<br>(1889–1893)
|-
!style="background: ;" |
|frameless|149x149px
|
|Ohio
|
|
|-
!style="background: ;" |
|frameless|161x161px
|
|Kentucky
|
|
|style="background: ;" |
|<br>(1893–1897)
|-
!rowspan=2 style="background: ;" |
|rowspan=2 |frameless|160x160px
|rowspan=2 |
|rowspan=2 |Illinois
|rowspan=2 |
|rowspan=2 |
|style="background: ;" |
|<br>(1897–1901)
|-
|rowspan=3 style="background: ;" |
|rowspan=3 |<br>(1901–1909)
|-
!style="background: ;" |
|150x150px
|
|Iowa
|
|
|-
!style="background: ;" |
|125px
|
|New York
|
|
|-
!style="background: ;" |
|125px
|
|Illinois
|
|
|style="background: ;" |
|<br>(1909–1913)
|-
!style="background: ;" |
|125px
|nowrap="" |
|New York
|
|
|rowspan=3 style="background: ;" |
|rowspan=3 |<br>(1913–1921)
|-
!style="background: ;" |
|125px
|
|Virginia
|
|
|-
!style="background: ;" |
|125px
|
|Missouri
|
|
|-
!rowspan=3 style="background: ;" |
|rowspan=3 |125px
|rowspan=3 |
|rowspan=3 |Pennsylvania
|rowspan=3 |
|rowspan=3 |
|style="background: ;" |
|<br>(1921–1923)
|-
|style="background: ;" |
|<br>(1923–1929)
|-
|rowspan=2 style="background: ;" |
|rowspan=2 |<br>(1929–1933)
|-
!style="background: ;" |
|125px
|
|New York
|
|
|-
!style="background: ;" |
|125px
|
|New York
|
|
|rowspan=2 style="background: ;" |
|rowspan=2 |<br>(1933–1945)
|-
!style="background: ;" |
|125px
|
|New York
|
|
|-
!style="background: ;" |
|125px
|
|Kentucky
|
|
|rowspan=2 style="background: ;" |
|rowspan=2 |<br>(1945–1953)
|-
!style="background: ;" |
|125px
|
|Missouri
|
|
|-
!style="background: ;" |
|125px
|
|Ohio
|
|
|rowspan=2 style="background: ;" |
|rowspan=2 |<br>(1953–1961)
|-
!style="background: ;" |
|125px
|
|Connecticut
|
|
|-
!rowspan=2 style="background: ;" |
|rowspan=2 |125px
|rowspan=2 |
|rowspan=2 |New Jersey
|rowspan=2 |
|rowspan=2 |
|style="background: ;" |
|<br>(1961–1963)
|-
|rowspan=3 style="background: ;" |
|rowspan=3 |<br>(1963–1969)
|-
!style="background: ;" |
|125px
|
|Virginia
|
|
|-
!style="background: ;" |
|125px
|
|Indiana
|
|
|-
!style="background: ;" |
|125px
|
|Utah
|
|
|rowspan=4 style="background: ;" |
|rowspan=4 |<br>(1969–1974)
|-
!style="background: ;" |
|125px
|
|Texas
|
|
|-
!style="background: ;" |
|125px
|
|Illinois
|
|
|-
!rowspan=2 style="background: ;" |
|rowspan=2 |125px
|rowspan=2 |
|rowspan=2 |New Jersey
|rowspan=2 |
|rowspan=2 |
|-
|style="background: ;" |
|<br>(1974–1977)
|-
!style="background: ;" |
|125px
|
|Michigan
|
|
|rowspan=2 style="background: ;" |
|rowspan=2 |<br>(1977–1981)
|-
!style="background: ;" |
|125px
|
|Rhode Island
|
|
|-
!style="background: ;" |
|125px
|
|New Jersey
|
|
|rowspan=4 style="background: ;" |
|rowspan=4 |<br>(1981–1989)
|-
!style="background: ;" |
|125px
|
|Texas
|
|
|-
|style="background:#e6e6aa;" |–
|style="background:#e6e6aa;" |125px
|style="background:#e6e6aa;" |<br />
|style="background:#e6e6aa;" |Michigan
|style="background:#e6e6aa;" |
|style="background:#e6e6aa;" |
|-
!rowspan=2 style="background: ;" |
|rowspan=2 |125px
|rowspan=2 |
|rowspan=2 |New Jersey
|rowspan=2 |
|rowspan=2 |
|-
|style="background: ;" |
|<br>(1989–1993)
|-
!style="background: ;" |
|125px
|
|Texas
|
|
|rowspan=4 style="background: ;" |
|rowspan=4 |<br>(1993–2001)
|-
|style="background:#e6e6aa;" |–
|125px
|style="background:#e6e6aa;" |<br />
|style="background:#e6e6aa;" |Massachusetts
|style="background:#e6e6aa;" |
|style="background:#e6e6aa;" |
|-
!style="background: ;" |
|125px
|
|New York
|
|
|-
!style="background: ;" |
|125px
|
|Maryland
|
|
|-
!style="background: ;" |
|125px
|
|Pennsylvania
|
|
|rowspan=5 style="background: ;" |
|rowspan=5 |<br>(2001–2009)
|-
|style="background:#e6e6aa;" |–
|style="background:#e6e6aa;" |125px
|style="background:#e6e6aa;" |<br />
|style="background:#e6e6aa;" |Illinois
|style="background:#e6e6aa;" |
|style="background:#e6e6aa;" |
|-
!style="background: ;" |
|125px
|
|Virginia
|
|
|-
|style="background:#e6e6aa;" |–
|style="background:#e6e6aa;" |125px
|style="background:#e6e6aa;" |<br />
|style="background:#e6e6aa;" |Virginia
|style="background:#e6e6aa;" |
|style="background:#e6e6aa;" |
|-
!style="background: ;" |
|125px
|
|Illinois
|
|
|-
|style="background:#e6e6aa;" |–
|style="background:#e6e6aa;" |125px
|style="background:#e6e6aa;" |<br />
|style="background:#e6e6aa;" |Ohio
|style="background:#e6e6aa;" |
|style="background:#e6e6aa;" |
|rowspan=4 style="background: ;" |
|rowspan=4 |<br>(2009–2017)
|-
!style="background: ;" |75
|125px
|
|New York
|
|
|-
|style="background:#e6e6aa;" |–
|style="background:#e6e6aa;" |125px
|style="background:#e6e6aa;" |<br />
|style="background:#e6e6aa;" |Illinois
|style="background:#e6e6aa;" |
|style="background:#e6e6aa;" |
|-
!style="background: ;" |
|125px
|
|New York
|
|
|-
|style="background:#e6e6aa;" |–
|style="background:#e6e6aa;" |125px
|style="background:#e6e6aa;" |<br />
|style="background:#e6e6aa;" |Washington, D.C.
|style="background:#e6e6aa;" |
|style="background:#e6e6aa;" |
|rowspan=2 style="background: ;" |
|rowspan=2 |<br>(2017–2021)
|-
!style="background: ;" |
|125px
|
|California
|
|
|-
|style="background:#e6e6aa;" |–
|style="background:#e6e6aa;" |125px
|style="background:#e6e6aa;" |<br />
|style="background:#e6e6aa;" |Virginia
|style="background:#e6e6aa;" |
|style="background:#e6e6aa;" |
|rowspan=2 style="background: ;" |
|rowspan=2 |<br>(2021–2025)
|-
!style="background: ;" |
|frameless|156x156px
|
|California
|
|
|-
|style="background:#e6e6aa;" |–
|style="background:#e6e6aa;" |125px
|style="background:#e6e6aa;" |<br />
|style="background:#e6e6aa;" |Indiana
|style="background:#e6e6aa;" |
|style="background:#e6e6aa;" |
|rowspan=2 style="background: ; |
|rowspan=2 |<br>(2025–present)
|-
!style="background: ;" |
|125px
|
|South Carolina
|
|Incumbent
|}
thumb|right|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.
{| class="wikitable"
|+
!#
!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
|}
<nowiki>*</nowiki>In the order in which they shall have taken the oath of office as such officers.
Notes
References
Further reading
- Bamzai, Aditya. "Tenure of Office and the Treasury: The Constitution and Control over National Financial Policy, 1787 to 1867." George Washington Law Review 87 (2019): 1299-1387. online
- Katz, Bernard S., and C. Daniel Vencill, eds. "Biographical dictionary of the United States secretaries of the Treasury, 1789-1995." (Greenwood, 1996) 432 pp. The major scholarly resource.
Primary sources
- The treasury policy of fifty years: opinions of secretaries Hamilton, Dallas, Crawford, Rush, Taney and Woodbury, on the currency, public credit, &c (1874) online
- Secretary of the Treasury Annual Report online
External links
|-