The U.S. Department of the Treasury announced that Derek Theurer will perform the duties of Deputy Secretary, the agency’s second-highest position.
Theurer joined Treasury in January as Counselor, assisting Secretary Scott Bessent with global tax negotiations and the enactment of President Donald Trump’s tax cuts for working families and job creators. In March, he was nominated to be Deputy Under Secretary of the Treasury for Legislative Affairs.
The Deputy Secretary serves as the department’s chief operating officer, overseeing fiscal policy, tax administration, economic sanctions, and financial regulation across multiple divisions. The position is considered one of the most influential in shaping U.S. economic and financial strategy.
“Derek’s leadership and sound counsel have been critical as the Treasury Department works to implement President Trump’s pro-growth agenda,” Bessent said in a statement. “His ongoing commitment to serving the American people, deep policy acumen and legislative expertise, as well as years of operational experience make him the ideal person to perform the duties of Deputy Secretary. I appreciate his continued service on my team as we address issues vital to the success of the economy.”
Theurer graduated summa cum laude from Utah State University with a bachelor’s in accounting and holds a J.D. from UCLA School of Law and an LL.M. in Taxation from NYU School of Law.