Department of the TreasuryGovernment

The Department of the Treasury is a cabinet-level executive department of the United States federal government responsible for promoting economic prosperity and ensuring the financial security of the nation. Its mandate encompasses collecting federal taxes through the Internal Revenue Service (IRS), managing the public debt and federal finances, minting currency and coining money, enforcing economic sanctions through OFAC, and supervising national banking institutions. Established by the 1st United States Congress on September 2, 1789, President George Washington appointed Alexander Hamilton as the inaugural Secretary of the Treasury, who famously established the foundational public credit system and the First Bank of the United States.