Treasury Counselor Derek Theurer Appointed to Perform Duties of Deputy Secretary

Treasury Secretary Scott Bessent has appointed Derek Theurer, who joined the department in January as counselor, to perform the duties of deputy secretary of the Treasury.

As counselor, Theurer assisted Bessent with global tax negotiations and the enactment of President Donald Trump’s tax cuts, the Treasury Department said in a Tuesday (Oct. 7) press release.

Theurer was nominated in March to be deputy under secretary of the Treasury for legislative affairs, according to the release.

“Derek’s leadership and sound counsel have been critical as the Treasury Department works to implement President Trump’s pro-growth agenda,” Bessent said in the release. “His ongoing commitment to serving the American people, deep policy acumen and legislative expertise, as well as years of operational experience make him the ideal person to perform the duties of Deputy Secretary.”

Prior to joining the Treasury Department, Theurer was with the U.S. House of Representatives as senior policy advisor, Office of the Speaker from June 2024 to January and as chief tax counsel from January 2021 to June 2024, according to his LinkedIn profile.

Before that, Theurer was vice president, tax and fiscal policy at Business Roundtable from September 2018 to January 2021; senior tax counsel at the U.S. Senate from February 2017 to September 2018; and tax attorney and then senior advisor, Washington Office at ExxonMobil from May 2008 to February 2017, per the profile.

In a July post on LinkedIn, Theurer said: “Returned to government in 2021 with the goal of driving impact on two fronts: course-correcting OECD Pillar 2, and protecting working Americans from the largest tax hike in history post-2025.”

In another July post on LinkedIn, Theurer said: “July 4th and the One, Big, Beautiful Bill becomes law, driven by months of tireless effort by many (and years of preparatory work by a few). A transformative win for working Americans and for pro-growth tax policy.”

On Monday (Oct. 6), Bessent appointed former Fiserv CEO Frank Bisignano to serve in the newly created position of CEO of the IRS as well as the role he already holds as commissioner of the Social Security Administration.

At the IRS, Bisignano will manage the organization and oversee its day-to-day operations.