Report: U.S. Deputy Treasury Secretary to Step Down After Five Months in Office

According to a report by Jinse Finance citing the Wall Street Journal, sources reveal that U.S. Treasury Undersecretary Michael Faulkender will leave the administration less than five months after being confirmed by the Senate. Faulkender was responsible for the Treasury’s daily operations and briefly served as acting IRS Commissioner during a period of leadership turmoil at the IRS. He is the second Senate-confirmed Treasury official to depart this month, following the earlier resignation of former IRS Commissioner Billy Long. During his tenure, Faulkender led the Treasury’s transition team and participated in formulating tax policies included in the tax and spending bill signed by Trump in July.