The Department of Treasury helps bolster the U.S. economy by promoting economic growth and protecting the financial system. Since most of the department’s funding (over 90%) goes to the Internal Revenue Service, most of its shortcomings fall there as well. The IRS estimates the net tax gap (the difference between taxes owed and taxes paid) is $406 billion, on average, and sits on GAO’s “high risk list” because of the failure to address the tax gap and fraudulent refund claims. Failing to address the problems associated with our nation’s revenue streams undermines the Treasury Department and the ability for the government to pay its debts.

526.12 Billion Annual Budget

Steven Mnuchin Secretary

100,000 Government Employees

Budget Growth 2012 - 2016

$3.53 Trillion

Annual budget for the federal government

$526.12 Billion

Percentage of Federal Budget