Portal:Department of the Treasury

Department of the Treasury

The Department of the Treasury (USDT) is the national treasury and finance department of the federal government of the United States, where it serves as an executive department. The department oversees the Bureau of Engraving and Printing and the U.S. Mint. These two agencies are responsible for printing all paper currency and minting coins, while the treasury executes currency circulation in the domestic fiscal system. It collects all federal taxes through the Internal Revenue Service; manages U.S. government debt instruments; licenses and supervises banks and thrift institutions; and advises the legislative and executive branches on matters of fiscal policy. The department is administered by the secretary of the treasury, who is a member of the Cabinet. The treasurer of the United States has limited statutory duties, but advises the Secretary on various matters such as coinage and currency production. Signatures of both officials appear on all Federal Reserve notes.

The department was established by an Act of Congress in 1789 to manage government revenue. The first secretary of the treasury was Alexander Hamilton, who was sworn into office on September 11, 1789. Hamilton was appointed by President George Washington on the recommendation of Robert Morris, Washington's first choice for the position, who had declined the appointment. Hamilton established the nation's early financial system and for several years was a major presence in Washington's administration. The department is customarily referred to as "Treasury", solely, without any preceding article – a transitional remnant from British to American English. Hamilton's portrait appears on the obverse of the ten-dollar bill, while the Treasury Building in Washington, D.C. is depicted on the reverse.

edit

Organization

The Department of the Treasury is organized into two major components: the departmental offices and the operating bureaus. The departmental offices are primarily responsible for the formulation of policy and management of the department as a whole, while the operating bureaus carry out the specific operations assigned to the department.

Structure

Secretary of the Treasury^[1]
- Deputy Secretary of the Treasury
  - Treasurer of the United States
    - Bureau of Engraving and Printing
      - Bureau of Engraving and Printing Police
    - United States Mint
      - United States Mint Police
  - Under Secretary for Domestic Finance^[2]
  - Under Secretary for International Affairs^[3]
    - Assistant Secretary for International Markets and Development
    - Assistant Secretary for International Finance
    - Assistant Secretary of the Treasury for Investment Security^[4]
    - Office of Environment and Energy^[5]
  - Under Secretary for Terrorism and Financial Intelligence (Office of Terrorism and Financial Intelligence)^[6]
    - Assistant Secretary for Terrorist Financing
      - Office of Terrorist Financing and Financial Crimes
    - Assistant Secretary for Intelligence and Analysis
      - Office of Intelligence and Analysis
    - Financial Crimes Enforcement Network
    - Office of Foreign Assets Control
    - Treasury Executive Office for Asset Forfeiture
  - Assistant Secretary of the Treasury for Management / Chief Financial Officer / Performance Improvement Officer
    - Office of Small and Disadvantaged Business Utilization
    - Office of Privacy, Transparency, and Records
    - Chief Information Officer
  - Assistant Secretary for Economic Policy
  - Assistant Secretary for Legislative Affairs
  - Assistant Secretary for Public Affairs
  - Assistant Secretary for Tax Policy
  - Climate Counselor^[7]
  - Commissioner of Internal Revenue
    - Internal Revenue Service
  - Office of the Comptroller of the Currency
  - Office of Financial Research
  - Office of the General Counsel
  - Office of the Inspector General
  - Treasury Inspector General for Tax Administration (TIGTA)
  - Chief Recovery Officer

Bureaus

Bureau	Description
Alcohol and Tobacco Tax and Trade Bureau (TTB)	The Alcohol and Tobacco Tax and Trade Bureau (TTB) is responsible for enforcing and administering laws covering the production, use, and distribution of alcohol and tobacco products. TTB also collects excise taxes for firearms and ammunition.
Bureau of Engraving & Printing (BEP)	The Bureau of Engraving & Printing (BEP) designs and manufactures U.S. currency, securities, and other official certificates and awards.
Bureau of the Fiscal Service	The Bureau of the Fiscal Service was formed from the consolidation of the Financial Management Service and the Bureau of the Public Debt. Its mission is to promote the financial integrity and operational efficiency of the U.S. government through exceptional accounting, financing, collections, payments, and shared services.
Community Development Financial Institution (CDFI) Fund	The Community Development Financial Institution (CDFI) Fund was created to expand the availability of credit, investment capital, and financial services in distressed urban and rural communities.
Financial Crimes Enforcement Network (FinCEN)	The Financial Crimes Enforcement Network (FinCEN) supports law enforcement investigative efforts and fosters interagency and global cooperation against domestic and international financial crimes. It also provides U.S. policymakers with strategic analyses of domestic and worldwide trends and patterns.
Inspector General	The Inspector General conducts independent audits, investigations and reviews to help the Treasury Department accomplish its mission; improve its programs and operations; promote economy, efficiency and effectiveness; and prevent and detect fraud and abuse.
Treasury Inspector General for Tax Administration (TIGTA)	The Treasury Inspector General for Tax Administration (TIGTA) provides leadership and coordination and recommends policy for activities designed to promote economy, efficiency, and effectiveness in the administration of the internal revenue laws. TIGTA also recommends policies to prevent and detect fraud and abuse in the programs and operations of the IRS and related entities.
Internal Revenue Service	The Internal Revenue Service (IRS) is the largest of Treasury's bureaus. It is responsible for determining, assessing, and collecting internal revenue in the United States.
Office of the Comptroller of the Currency (OCC)	The Office of the Comptroller of the Currency (OCC) charters, regulates, and supervises national banks to ensure a safe, sound, and competitive banking system that supports the citizens, communities, and economy of the United States.
U.S. Mint	The U.S. Mint designs and manufactures domestic, bullion and foreign coins as well as commemorative medals and other numismatic items. The Mint also distributes U.S. coins to the Federal Reserve banks as well as maintains physical custody and protection of the nation's silver and gold assets.

edit

Partnerships

Social Impact Partnership To Pay For Results Act (SIPPRA) - https://home.treasury.gov/services/treasury-financial-assistance/other-major-programs
Security Summit - unique public-private partnership formed in 2015 to protect taxpayers and the tax system against identity theft refund fraud - https://www.irs.gov/newsroom/security-summit

edit

Organization chart

edit

Political appointees

Portal:Department of the Treasury/Section 21

edit

Programs and initiatives

https://fiscal.treasury.gov/all-programs-services.html

Build America, Buy America Waivers
Community Development Financial Institutions Fund (CDFI Fund) Programs
- Bank Enterprise Award Program › The BEA Program awards FDIC-insured depository institutions for increasing their support of CDFIs and advancing their community development activities in many of our country’s most highly distressed communities. These activities promote economic opportunity and impact real lives nationwide.
- Capital Magnet Fund › Through the Capital Magnet Fund, the CDFI Fund provides competitively awarded grants to CDFIs and qualified non-profit housing organizations. These awards can be used to finance affordable housing activities, as well as related economic development activities and community service facilities.
- CDFI Bond Guarantee Program › Through the CDFI Bond Guarantee Program, the Secretary of the Treasury makes debt available to CDFIs from the Federal Financing Bank. The loans provide long-term capital not previously available to CDFIs, and inject new and substantial investment into our nation’s most distressed communities.
- CDFI Equitable Recovery Program › The CDFI ERP provides grants to CDFIs to respond to disproportionate economic impacts of the COVID-19 pandemic in low- or moderate-income communities and to borrowers with unmet capital and financial services needs.
- CDFI Program › The CDFI Program uses monetary awards (Financial Assistance and Technical Assistance) and training opportunities to invest in and build the capacity of CDFIs, empowering them to grow, achieve organizational sustainability, and drive community revitalization.
- CDFI Rapid Response Program › The CDFI Rapid Response Program is designed to quickly deploy COVID-19 relief capital to Certified CDFIs.
- Native Initiatives Benefits › Through the use of monetary awards (Financial Assistance and Technical Assistance) and training opportunities, the CDFI Fund’s Native Initiatives program creates jobs, builds businesses, and fosters economic self-determination in Native Communities nationwide. - https://www.cdfifund.gov/programs-training/programs/native-initiatives
- New Markets Tax Credit Program › The NMTC Program incentivizes community development and economic growth through the use of tax credits that attract private investment to distressed communities. This tax incentive sparks the revitalization of communities in need.
- Small Dollar Loan Program › The Small Dollar Loan Program was created to help Certified CDFIs provide alternatives to high cost small dollar loans.
Office of Capital Access (OCA)
- Internal Revenue Service (IRS) Programs
  - Volunteer Income Tax Assistance Program (VITA)
  - Tax Counseling for the Elderly (TCE)
  - Low Income Taxpayer Clinics (LITCs)
  - Taxpayer Advocate Service
- Treasury Executive Office for Asset Forfeiture (TEOAF) Programs
  - Treasury Executive Office for Asset Forfeiture (TEOAF)
  - Treasury Forfeiture Fund (TFF)
- Social Impact Partnership To Pay For Results Act (SIPPRA)
Internal Revenue Service (IRS) Programs
Treasury Executive Office for Asset Forfeiture (TEOAF) Programs
Other Major Programs

https://home.treasury.gov/data/other-programs

Legal Advisory Contract for Programs to Provide Support to Air Carriers and Certain Other Types of Businesses
Financial Agency Agreement for Advisory Services for Equity Securities, Debt, and Warrants under the CARES Act
Financial Agency Agreement for Portfolio Monitoring Services for Equity Securities, Debt, and Warrants under the CARES Act [Updated 07.24.2023]
Modification of Contract for CARES Act Implementation Support Services
Modification of Contract for CARES Act Implementation Support Services
Legal Advisory Contract for Programs for Passenger Air Carriers under the CARES Act [Updated 08.13.2021]
Financial Agency Agreement for Independent Financial Advice on Programs for Passenger Air Carriers under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) [Updated 08.28.2020]
Financial Agency Agreement for Independent Financial Advice on Programs for Cargo Air Carriers and Aviation Support Firms under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) [Updated 08.28.2020]
Financial Agency Agreement for Independent Financial Advice on Programs for Business Critical to Maintaining National Security under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) [Updated 08.28.2020]
Notice to Proceed for Budget Advisory Services on Payroll Support Program under the CARES Act
Financial Agency Agreement for Custodian and Infrastructure Services for Programs under the CARES Act [Updated 03.06.2024]
Legal Advisory Contract for Programs for Businesses Critical to Maintaining National Security and Certain Aviation Support Firms under the CARES Act [Updated 01.25.2022 ]
Legal Advisory Contract for Payroll Support Program and Loans for Cargo Air Carriers and Certain Aviation Support Firms [Updated 5.27.2021]
List of Government Officials (May 2020)
Contract for CARES Act Implementation Support Services
Under the Geospatial Data Act (GDA) of 2018, Treasury, as a covered agency, is required to publish a Geospatial Data Strategic Plan. The GDA defines geospatial data as information that is tied to a location on the Earth, including by identifying the geographic location and characteristics of natural or constructed features and boundaries on the Earth, and that is generally represented in vector datasets by points, lines, polygons, or other complex geographic features or phenomena. This plan will follow the framework and strategy set forth by the Treasury Data Framework (TDF).
For more information, please see Treasury-Geospatial Data Strategy.
Legal Services Agreement Under Section 4003 of the CARES Act
Legal Advisory Contract Under Section 4003 of the CARES Act

Small Business Programs

State Small Business Credit Initiative (SSBCI)

SSBCI supports state programs that, in turn, use the funds to support private sector loans and investments to small businesses and small manufacturers that are creditworthy but are not able to access the capital they need to expand and create jobs.

Small Business Lending Fund (SBLF)

The Small Business Lending Fund (SBLF) provided capital to qualified community banks and community development loan funds (CDLFs) to encourage these institutions and Main Street businesses to work together to promote economic growth and create new jobs. Through the SBLF program, Treasury invested over $4.0 billion in 332 institutions, structured to incentivize increased small business lending.

Community Development Financial Institutions Fund (CDFI Fund)

The CDFI Fund promotes economic revitalization and community development in low-income communities through investment in and assistance to mission-driven lenders known as Community Development Financial Institutions (CDFIs) and other community development organizations. The CDFI Fund accomplishes this goal through the Community Development Financial Institutions Program, the New Markets Tax Credit Program, the CDFI Bond Guarantee Program, the Bank Enterprise Award Program and the Native American CDFI Assistance Program.

Office of Small and Disadvantaged Business Utilization

The Office of Small and Disadvantaged Business Utilization assists, counsels, and advises small businesses of all types (small businesses, small disadvantaged business, women-owned small businesses, economically disadvantaged women-owned small businesses, veteran owned small businesses, service disabled veteran owned small businesses, and small businesses located in historically underutilized business zones) on procedures for contracting with Treasury.

Interagency Community Investment Committee (ICIC) Small Business Resource Guides

The Interagency Community Investment Committee (ICIC) is a coalition of agencies with a focus on aligning federal investments to support economic growth in historically underserved communities and address economic disparities. These toolkits provide information on federally available small business resources. These guides are intended to help small business owners connect to resources specifically available to them in their local community.

edit