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U.S. Treasury
The U.S. Treasury is the government department responsible for issuing all Treasury bonds, notes, and bills. Among the government departments operating under the U.S. Treasury umbrella are the:
- Internal Revenue Service (IRS)
- U.S. Mint, the Bureau of the Fiscal Service
- Alcohol and Tobacco Tax and Trade Bureau
Key functions of the U.S. Treasury include printing bills, postage, and Federal Reserve notes, minting coins, collecting taxes, enforcing tax laws, managing all government accounts and debt issues, and overseeing U.S. banks in cooperation with the Federal Reserve. The secretary of the Treasury is responsible for international monetary and financial policy, including foreign exchange intervention. The U.S. Treasury is:
- Government department in charge of managing all federal finances.
- Responsible for collecting taxes, paying bills, managing currency, government accounts, and public debt.
- Enforces finance and tax laws, as well as issues treasury bonds, considered to be the safest and most liquid securities worldwide.
The U.S. Treasury is the Cabinet-level department responsible for promoting economic growth and security. It was established by the First Congress of the United States, which convened in New York on March 4, 1789, following the ratification of the Constitution. The secretary of the Treasury is nominated by the president and must be confirmed by the U.S. Senate.
