Michael Faulkender
American financial official From Wikipedia, the free encyclopedia
Michael Faulkender (born 1974) is an American academic and government official currently serving as acting commissioner of the US Internal Revenue Service and 16th United States deputy secretary of the treasury.
Michael Faulkender | |
|---|---|
| |
| 16th United States Deputy Secretary of the Treasury | |
| Assumed office March 28, 2025[1] | |
| President | Donald Trump |
| Secretary | Scott Bessent |
| Preceded by | Wally Adeyemo |
| Commissioner of Internal Revenue | |
Acting | |
| Assumed office April 18, 2025 | |
| President | Donald Trump |
| Preceded by | Gary Shapley (acting) |
| Assistant Secretary of the Treasury for Economic Policy | |
| In office August 6, 2019 – January 20, 2021 | |
| President | Donald Trump |
| Preceded by | Karen Dynan |
| Succeeded by | Ben Harris |
| Personal details | |
| Education | University of California, Davis (BS) Northwestern University (PhD) |
Education
Faulkender received B.S. in managerial economics from the University of California, Davis in 1994 and his PhD in finance from Northwestern University in June 2002.[2]
Career
Summarize
Perspective
Academia
Faulkender is the Dean's Professor of Finance and former associate dean of master's programs and professor of finance at the Robert H. Smith School of Business at the University of Maryland.[3] He is known for his research on executive compensation and the corporate tax practices of multinational firms. As associate dean at Maryland Smith, he helped create the business school's online master of science degree in business analytics.[4]
Faulkender was awarded the Barclays Global Investors' Michael J. Brennan Best Paper Award in the Review of Financial Studies in 2013, for Investment and Capital Constraints: Repatriations Under the American Jobs Creation Act, co-authored with Mitchell Petersen. Faulkender was a runner-up for that prize in 2006.[5][6]
Government
In Trump's first term, Faulkender served as the assistant secretary of the treasury for economic policy.[7] On December 4, 2024, U.S. president-elect Donald Trump nominated Faulkender as deputy U.S. treasury secretary.[7] He also served as the acting commissioner of internal revenue since April 2025.[8] Faulkender was appointed to the role by Donald Trump, replacing Gary Shapley, whom Trump had appointed just two days earlier on April 16, 2025.[9]
Senate committee nomination process
On March 6, 2025, Faulkender sat before the Senate Finance Committee.[10] However, the hearing was objected to with a joint statement by Democrats on the Senate Finance Committee. The following is part of the joint statement:[11]
This afternoon, we informed Chairman Crapo and his staff that we object to holding a hearing on the Faulkender nomination as long as the Trump administration continues to stonewall oversight of the lawless intrusion of personnel affiliated with Elon Musk into the Treasury Department and IRS.
On March 14, 2025, the committee voted to move his nomination forward to Senate vote, with a vote of 14-13.[12]
References
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