United States Deputy Secretary of the Treasury

The Deputy Secretary of the Treasury, in the United States government, advises and assists the Secretary of the Treasury in the supervision and direction of the Department of the Treasury and its activities, and succeeds the secretary in his absence, sickness, or unavailability. The deputy secretary plays a primary role in the formulation and execution of Treasury policies and programs in all aspects of the department's activities.[1] In addition, the deputy secretary is the only official other than the secretary who can sign a Treasury Order, which is a document that delegates authority residing in the secretary or deputy secretary to another Treasury official, establishes Treasury policy, and establishes the reporting relationships and supervision of officials.[2] Former Deputy Secretaries include Roger Altman,[3] Lawrence Summers,[4] Stuart E. Eizenstat,[5] Kenneth W. Dam,[6] and Samuel Bodman.[7]

Deputy Secretary of the Treasury of the United States
Seal of the Department of Treasury
Flag of the Deputy Secretary of Treasury
Justin Muzinich

since December 12, 2018
U.S. Department of Treasury
Reports toSecretary of the Treasury
SeatWashington, D.C.
AppointerThe President
with Senate advice and consent
Term lengthNo fixed term
FormationFebruary 16, 1981 (1981-02-16)
First holderR. T. McNamar
SalaryExecutive Schedule, level 2

The office of deputy secretary is the successor of the "Under Secretary of the Treasury", the former chief deputy to the secretary. Today, several officials hold the title of "Under Secretary" of the Treasury. Among those who served as under secretary when it was the number-two position in the department include Dean Acheson, Henry Morgenthau Jr., John W. Hanes II, and O. Max Gardner (1946–47).[8][9]

The current Deputy Secretary is Justin Muzinich. President Donald Trump announced his nomination of Muzinich on March 13, 2018. The nomination was confirmed by the U.S. Senate on a vote of 55-44.[10][11]

List of Deputy Secretaries of the Treasury

# Name Term Began Term Ended President(s) served under
1 R. T. McNamar 1981[12] 1985 Ronald Reagan
2 Richard G. Darman 1985[13] 1987
3 M. Peter McPherson 1987[14] 1989
4 John E. Robson 1989 1992[15] George H.W. Bush
5 Roger Altman 1993 1994 Bill Clinton
6 Frank N. Newman[16] 1994 1995
7 Lawrence Summers 1995 1999
8 Stuart E. Eizenstat 1999 2001
9 Kenneth W. Dam 2001 2003 George W. Bush
10 Samuel Bodman February 2004 January 2005
11 Robert M. Kimmitt August 16, 2005 January 20, 2009
12 Neal S. Wolin May 18, 2009 August 31, 2013 Barack Obama
13 Sarah Bloom Raskin March 19, 2014 January 20, 2017
14 Justin Muzinich December 12, 2018 Incumbent Donald Trump


  1. "U.S. Treasury - Duties & Functions of the Deputy Secretary of the Treasury". Archived from the original on September 15, 2007. Retrieved September 22, 2007.
  2. "U.S. Treasury - Orders and Directives". Retrieved September 22, 2007.
  3. "AllPolitics - Whitewater - Cast of Characters". CNN. Retrieved September 22, 2007.
  4. "History of the President's Office". Archived from the original on July 4, 2007. Retrieved September 22, 2007.
  5. "Covington & Burling LLP – Lawyers - Stuart E. Eizenstat". Archived from the original on October 27, 2006. Retrieved November 23, 2006.
  6. "University of Chicago Law School > Kenneth Dam". Retrieved September 22, 2007.
  7. "Department of Energy - Samuel W. Bodman". Archived from the original on June 11, 2008. Retrieved September 22, 2007.
  8. "The Cabinet: Undersecretary No. 2". May 7, 1934. Retrieved September 24, 2018 via content.time.com.
  9. "Governor O. Max Gardner: the politician". Archived from the original on July 11, 2011. Retrieved November 10, 2010.
  10. Jagoda, Naomi (April 2, 2018). "Trump names nominee to be deputy Treasury secretary". The Hill.
  11. "PN1803 - Nomination of Justin George Muzinich for Department of the Treasury, 115th Congress (2017-2018)". www.congress.gov. December 11, 2018. Retrieved December 16, 2018.
  12. "Ronald Reagan: Nomination of R. T. McNamar To Be Deputy Secretary of the Treasury". www.presidency.ucsb.edu. Retrieved September 24, 2018.
  13. "Ronald Reagan: Letter Accepting the Resignation of Richard G. Darman as Assistant to the President and Deputy to the Chief of Staff". www.presidency.ucsb.edu. Retrieved September 24, 2018.
  14. "BUSINESS PEOPLE; A.I.D. Head Is Expected To Get Treasury Post". Retrieved September 24, 2018.
  15. "Sunlight Foundation". Retrieved September 24, 2018.
  16. "Frank N. Newman". www.nndb.com. Retrieved September 24, 2018.
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