Michael Faulkender, Deputy Treasury Secretary and the second-highest official at the Treasury Department, is leaving the administration less than five months after being confirmed by the Senate, according to people familiar with the matter.
- Faulkender managed day-to-day Treasury operations and briefly served as acting IRS commissioner during leadership turnover.
- His departure follows IRS Commissioner Billy Long’s resignation earlier this month.
- A longtime finance professor at the University of Maryland, Faulkender previously served in the first Trump administration overseeing pandemic economic responses.
- He played a key role in shaping tax policies in the Trump administration’s July tax and spending law.
- Confirmed in March, he was praised by Treasury Secretary Scott Bessent for his academic and policy expertise.
- Trump ally Laura Loomer first publicized his exit late Thursday on social media.
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Editor’s Note: This is a developing story. This article may be updated as more details become available.
