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2h ago

Deputy Treasury Secretary Michael Faulkender Steps Down Less Than Five Months After Confirmation

The exit makes him the second Senate-confirmed Treasury official to leave this month.

A bronze seal for the Department of the Treasury is shown at the U.S. Treasury building in Washington, U.S., January 20, 2023. REUTERS/Kevin Lamarque/File Photo
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Overview

  • Treasury announced Faulkender’s departure on Friday, offering no explanation for the move.
  • Faulkender was confirmed by the Senate on March 26, making his tenure under five months.
  • Treasury Secretary Scott Bessent thanked Faulkender for his service but did not cite a reason for the resignation.
  • Bessent credited Faulkender with helping oversee operations and advance the One Big Beautiful Bill, the GENIUS Act, and sanctions efforts.
  • His exit follows IRS Commissioner Billy Long’s departure earlier in August after Long said he was being tapped as ambassador to Iceland.