The second-highest-ranking official at the Treasury Department, Michael Faulkender, is departing President Trump’s administration after being confirmed by the Senate about five months ago.
“I would like to thank Deputy Secretary Faulkender for his dedication and service. Since January, he has played a critical role in overseeing the U.S. Department of the Treasury’s operations and executing on President Trump’s bold economic agenda,” Treasury Secretary Scott Bessent said Friday in an emailed statement to The Hill.
“His important work has supported the passage of the historic One Big Beautiful Bill and GENIUS Act, and the leveling of sanctions against our adversaries,” Bessent added.
The Treasury Department did not provide the reason for Faulkender’s departure.
Far-right activist and Trump ally Laura Loomer first reported on Faulkender’s departure Thursday night on social platform X.
Faulkender was nominated by Trump for the role in December and was confirmed to the post in late March.
Faulkender, who previously worked as a finance professor at the University of Maryland’s business school, oversaw day-to-day operations at the Treasury Department.
Less than a month after being confirmed by the upper chamber on March 26, Faulkender, who worked at the Treasury Department during Trump’s first White House term, was appointed as the acting commissioner of the IRS.
Faulkender, who worked as the assistant secretary for economic policy at the Treasury Department, is the second high-ranking official to leave the agency in recent months.
Earlier this month, former Rep. Billy Long (R-Mo.), who the Senate confirmed as IRS commissioner, was ousted from the position. He is expected to be nominated as the U.S. ambassador to Iceland. Bessent is serving as the acting commissioner of the IRS.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
For the latest news, weather, sports, and streaming video, head to The Hill.
Comments