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Deputy Treasury Secretary Resigns After Just Five Months

8/22/2025

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Summary

Story summary

U.S. Deputy Treasury Secretary Michael Faulkender is resigning after less than five months in office.
His departure comes after IRS Commissioner Billy Long announced his exit to become ambassador to Iceland.
Treasury Secretary Scott Bessent recognized Faulkender's contributions but did not disclose the reasons for his resignation.
Faulkender has previously held the role of assistant secretary of economic policy and is a finance professor at the University of Maryland.

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Story summary

U.S. Deputy Treasury Secretary Michael Faulkender is resigning after less than five months in office.
His departure comes after IRS Commissioner Billy Long announced his exit to become ambassador to Iceland.
Treasury Secretary Scott Bessent recognized Faulkender's contributions but did not disclose the reasons for his resignation.
Faulkender has previously held the role of assistant secretary of economic policy and is a finance professor at the University of Maryland.