Formally established as an executive department by the 1789 Act of Congress, the Department of the Treasury serves as the treasury of the federal government and is the agency responsible for managing the money resources of the United States.
It primarily exists to promote economic prosperity and ensure the financial security of the U.S. Its mission is as follows:
”Maintain a strong economy and create economic and job opportunities by promoting the 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 effectively.”
- regulating national banks,
- determining international economic policy,
- collecting taxes,
- issuing securities,
- reporting the government’s financial transactions,
- and minting coins and bills.
The Department of the Treasury is headed by the Secretary of the Treasury, who serves as a member of the cabinet.
It is composed of two major divisions: the Departmental offices and the operating bureaus. The Departmental offices are in charge of formulating policies for and managing the Department as a whole. On the other hand, operating bureaus are responsible for executing the functions and responsibilities designated to the Department.
U.S. Department of the Treasury Official Website
U.S. Department of the Treasury Official Duties