18-594: The Citizens Coinage Advisory Committee (or CCAC ) is a federal advisory committee that was established in 2003 to advise the United States Secretary of the Treasury on the themes and designs of all US coinage and medals. The CCAC serves as an informed, experienced and impartial resource to the Secretary of the Treasury and represents the interests of American citizens and collectors . Public Law 108-15 authorizes
36-972: A member of the president's cabinet and, by law, a member of the National Security Council . 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 , is confirmed by the United States Senate . Federalist (4) Democratic-Republican (4) Democratic (30) Whig (5) Republican (34) Independent (1) Status The secretary of
54-454: 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 Secretary oversees the activities of the Department in carrying out its major law enforcement responsibilities; in serving as the financial agent for
72-690: The Inter-American Development Bank , the Asian Development Bank , and the European Bank for Reconstruction and Development . 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 . The secretary of the treasury is a Level I position in
90-782: The United States Government ; and in manufacturing coins and currency . The Chief Financial Officer of the government, the Secretary serves as Chairman Pro Tempore of the President's Economic Policy Council, Chairman of the Boards and Managing Trustee of the Social Security and Medicare Trust Funds, and as U.S. Governor of the International Monetary Fund , the International Bank for Reconstruction and Development ,
108-400: 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
126-594: The Bureau of Engraving and Printing (BEP) and the United States Mint was later assigned to the treasurer in 1981. In 1994, the treasurer was also named National Honorary Director of the U.S. Savings Bonds Campaign and therefore assigned the task of promoting - as opposed to managing - the program. More recently, the requirement of the United States Senate confirmation for the appointment was dropped in August 2012. Since
144-511: The CCAC to: The CCAC is composed of eleven members, each appointed by the Secretary to a term of four years. Past members include Kareem Abdul-Jabbar , Ute Wartenberg , Robert Remini , Bill Fivaz , Thomas Noe , and Susan Kare . This United States government–related article is a stub . You can help Misplaced Pages by expanding it . This coin-related article is a stub . You can help Misplaced Pages by expanding it . United States Secretary of
162-623: The Executive Schedule , thus earning the salary prescribed for that level ( US$ 246,400, as of January 2024). 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,
180-618: The Office of the Treasurer and its cash management activities were brought under the direction of a broader Fiscal Service, one that also coordinated governmentwide accounting and debt management. Later in 1974, the cash management function in its entirety was transferred from the treasurer to what is now known as the Bureau of the Fiscal Service as a cost-saving measure. Responsibility for oversight of
198-477: The Treasury 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
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#1732881581540216-538: The United Colonies. On August 6, 1776, however, Clymer resigned from his post, thus making Hillegas the sole incumbent. The position received its current name on May 14, 1777, while Hillegas was still in office. The post of U.S. treasurer predates the United States Constitution . The treasurer was originally charged with the receipt and custody of all government funds independent of the treasury secretary, not unlike today's elected state treasurers . Beginning in 1939,
234-525: The influence of federal monetary policy on currency and coinage production, the treasurer liaises on a regular basis with the Federal Reserve . The duty perhaps most widely associated with the treasurer of the United States is affixing a facsimile signature to all Federal Reserve notes . Federal law requires both the treasurer's signature and the treasury secretary's countersignature for Federal Reserve notes to be considered legal tender . Moreover,
252-416: 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 is Janet Yellen , who is the first woman to hold the office. The Secretary
270-520: The order designates which Treasury officers are next in line to serve as acting secretary. The order of succession is: Treasurer of the United States The treasurer of the United States is an officer in the United States Department of the Treasury who serves as the custodian and trustee of the federal government's collateral assets and the supervisor of the department's currency and coinage production functions. As of September 12, 2022,
288-577: The treasurer is Marilynn Malerba , who is the first Native American to hold the office. By law, the treasurer is the depositary officer of the United States with regard to deposits of gold, special drawing rights , and financial gifts to the Library of Congress . The treasurer also directly oversees the Bureau of Engraving and Printing (BEP) and the United States Mint , which respectively print and mint U.S. currency and coinage . In connection to
306-628: The treasurer serves as a senior advisor and representative of the Treasury Department on behalf of the secretary in the areas of community development and public engagement. On July 29, 1775, long before the Department of the Treasury ever existed, the Second Continental Congress established the Treasury Office to manage revolutionary wartime finances . Congress chose George Clymer and Michael Hillegas as joint treasurers of
324-523: The treasury is fifth in the presidential line of succession , following the secretary of state and preceding the secretary of defense . On August 16, 2016, President Barack Obama signed Executive Order 13735, which changed the order of succession for filling the Treasury Secretary's role when necessary. At any time when the secretary and the deputy secretary of the treasury have both died, resigned, or cannot serve as secretary for other reasons,
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