Treasury Department

The United States Treasury Department is the executive agency responsible for promoting economic prosperity and ensuring the financial security of the U.S. It oversees agencies like the Internal Revenue Service (IRS) and manages government revenue. The Treasury Department is currently newsworthy due to two main issues. First, former President Donald Trump and his sons are suing the IRS and the Treasury Department for $10 billion, alleging a failure to prevent the leak of their tax information. Second, the Treasury's Office of Foreign Assets Control (OFAC) is actively involved in imposing sanctions related to international issues, such as Iran's regime and its alleged capital flight. These actions highlight the Treasury's role in both domestic financial oversight and international economic policy, demonstrating its ongoing significance in both national and global affairs.