Department of the Treasury

The Treasury Department is the federal agency responsible for managing the U.S. government's money. It collects taxes and customs duties (through the IRS and Customs), borrows funds by issuing Treasury securities, produces the nation's currency and coins (through its Bureau of Engraving and Printing and the U.S. Mint), and advises the President on economic and financial policy. It also enforces financial laws and administers economic sanctions that affect banks, businesses, and individuals nationwide.

Created by Congress under the An Act to establish the Treasury Department (1789) (Act of Sept. 2, 1789, ch. 12, 1 Stat. 65; codified at 31 U.S.C. § 301), it acts within the authority that statute grants. Its actions are subject to judicial review and to congressional oversight and funding.