The Department of the Treasury is a Cabinet-level agency of the federal government responsible for promoting economic prosperity and ensuring the financial security of the United States. The Department is responsible for a wide range of activities such as advising the President on economic and financial issues, encouraging sustainable economic growth, and fostering improved governance in financial institutions. The Department of the Treasury operates and maintains systems that are critical to the nations financial infrastructure, such as the production of coin and currency, the disbursement of payments to the American public, revenue collection, and the borrowing of funds necessary to run the federal government. 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. The basic functions of the Department of the Treasury include:
- Economic, international economic, and fiscal policy
- Government accounting, cash, and debt management
- Promulgation and enforcement of tax and tariff laws
- Assessment and collection of internal revenue
- Production of coin and currency
- Supervision of national banks and thrifts
The Secretary of the Treasury is responsible for formulating and recommending domestic and international financial, economic, and tax policy, participating in the formulation of broad fiscal policies that have general significance for the economy, and managing the public debt. The Deputy Secretary of the Treasury advises and assists the Secretary of the Treasury in the supervision and direction of the Department and its activities, and succeeds the Secretary in her absence, sickness, or unavailability. The Treasury Department also enforces finance and tax laws, and prosecutes alleged tax evaders and financial criminals.
