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Ted Lee

Deputy Assistant Secretary at U.S. Treasury Department

Ted Lee is the Deputy Assistant Secretary for Tax Policy and Delivery at the U.S. Department of the Treasury, a position he assumed in 2024.34 He holds a Bachelor of Arts (B.A.) from Yale University and a Juris Doctor (J.D.) from Yale Law School.3

Lee's career at the Treasury Department includes:

  1. Deputy Assistant Secretary for Tax Policy and Delivery (2024 - Present)3
  2. Chief of Staff and Senior Advisor, Office of Tax Policy (October 2022 - January 2024)3

In his current role, Lee focuses on increasing uptake of clean energy incentives, the Child Tax Credit, and other provisions.2 He has been involved in implementing key legislation such as the Inflation Reduction Act, as evidenced by his work on the Low-Income Communities Bonus Credit Program.5

Prior to joining the Treasury, Lee's experience includes:

  • Senior Manager at Bain & Company (until July 2021)1
  • Consultant at Tax Law Center at NYU Law (until July 2021)1
  • Policy Advisor at Sperling Economic Strategies (until March 2021)1

Lee's estimated net worth is between $595,000 and $1.6 million, with a salary of approximately $127,000 in his government role.1

Highlights

May 29 · linkedin

Today marks a major milestone in Treasury’s implementation of the Inflation Reduction Act: we are publishing proposed rules for the Clean Electricity Investment and Production Tax Credits. These credits are expected to account for the majority of the IRA’s greenhouse gas emissions reduction and will be available until well into the next decade or until the power sector hits key emissions reduction targets.

This means the clean energy sector will continue to build on:

⚡️ $850 billion in clean energy and manufacturing investments since the start of the Biden-Harris Administration ☀️ Last year’s record addition of clean power capacity, including record levels of solar deployment 💪 Incentives to pay workers prevailing wages, hire apprentices, invest in historical fossil fuel communities and low-income communities, and build out the domestic supply chain

The proposed rules provide important clarity and certainty for investment to move forward, accelerating deployment of the technologies that will account for the bulk of new clean energy in the coming years. This stands in stark contrast to the pre-IRA environment - when uncertainty about credits made it difficult to plan and invest in clean energy projects. The proposed rules will also fuel innovation, while reflecting the best available science.

Huge shoutout to all my colleagues at Treasury, IRS, Department of Energy, EPA, USDA, and the White House for their dedication and hard work!

May 3 · linkedin

Today the Treasury Department and IRS are finalizing rules for electric vehicles that will lower costs for American consumers, strengthen our country’s industrial base, and cut greenhouse gas emissions. Electric vehicles can save a household hundreds of dollars in gas each year, and thanks to the Inflation Reduction Act consumer electric vehicles are more affordable than ever with tax credits of up to $7,500 for a new vehicle and up to $4,000 for a used vehicle. With the rules we are finalizing today, you don’t even need to wait until next tax season to claim this credit: you can transfer the credit to the dealer at the point of sale. So far this year, more than 100,000 credits have been transferred, resulting in more than $700 million in savings for consumers.

The rules also provide significant incentives for automakers and battery manufacturers to friendshore and onshore their supply chains, while also strengthening our national security. Companies have already announced over $170 billion in electric vehicle and battery investments in the U.S. since President Biden took office, and this announcement will continue and accelerate that trend.

This work has been a huge, all-of-government undertaking since the Inflation Reduction Act passed in fall 2022. Congratulations to all of my dedicated colleagues at Treasury, IRS, Department of Energy, EPA, Department of Transportation, the White House, and many, many others who contributed their expertise, time, and passion to make this possible!

Related Questions

What are Ted Lee's main responsibilities as Deputy Assistant Secretary for Tax Policy and Delivery?
How did Ted Lee's previous roles at Bain & Company and NYU Law prepare him for his current position?
What specific initiatives is Ted Lee focusing on to increase the uptake of clean energy breaks?
How has Ted Lee's career evolved since he started at the U.S. Department of the Treasury?
What are the key challenges Ted Lee faces in his role at the Treasury Department?
Ted Lee
Ted Lee, photo 1
Ted Lee, photo 2
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Location

New York, New York, United States