Make us your home page
Instagram

Today’s top headlines delivered to you daily.

(View our Privacy Policy)

Lew's treasury nomination sent to Senate

WASHINGTON — The Senate Finance Committee on Tuesday approved President Barack Obama's choice of Jacob Lew to be treasury secretary and sent the nomination to the full Senate.

Lew would succeed Timothy Geithner, who completed a tumultuous four-year term in which he helped lead the administration's response to the financial crisis and recession.

The committee approved Lew's nomination, 19-5. The timing of a Senate vote is unclear.

During a three-hour confirmation hearing Feb. 13, the sharpest questions came from Republicans who pressed Lew about his tenure at Citigroup, where he was a top executive from 2006 until early 2009, a period covering the height of the financial crisis. Lew was grilled about a nearly $1 million bonus he received while Citi was being bailed out by taxpayers.

Lew, 57, most recently was Obama's chief of staff. He earlier served as Obama's budget director, a post he also held during the Clinton administration. Lew began his government service in the 1980s as an aide to House Speaker Tip O'Neill.

During his confirmation hearing, Lew signaled no major economic policy changes. He advocated a balanced approach to reducing the long-term budget deficit through spending cuts and additional tax revenue.

He said he would be open to reforms to Medicare, but he didn't spell out any details. Lew also said he would work with the committee on a rewrite of the tax code. He said tax simplification could be achieved by reducing deductions so rates could be lowered.

Obama's Cabinet

Several openings are pending in President Barack Obama's Cabinet:

Secretary of commerce: John Bryson resigned in June for health reasons. The acting secretary is Rebecca Blank.

Secretary of energy: leaving, Steven Chu

Secretary of the interior: leaving, Ken Salazar; nominated, Sally Jewel, president and chief executive of REI.

Secretary of labor: leaving, Hilda Solis

Secretary of the treasury: leaving, Timothy Geithner; nominated, Jacob Lew.

Secretary of transportation: leaving, Ray LaHood

Staying on: Eric Holder, attorney general; Thomas Vilsack, secretary of agriculture; Kathleen Sebelius, secretary of Health and Human Services; Arne Duncan, secretary of education; Eric Shinseki, secretary of Veterans Affairs; Shaun Donovan, secretary of Housing and Urban Development; and Janet Napolitano, secretary of Homeland Security.

Source: cnn.com

Lew's treasury nomination sent to Senate 02/26/13 [Last modified: Tuesday, February 26, 2013 11:12pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Twins eventually cash in as Rays lose, fall back to .500 (w/video)

    The Heater

    MINNEAPOLIS — The Rays could only battle their way out of trouble for so long Saturday afternoon before succumbing in a 5-2 loss to the Twins.

    Minnesota Twins pitcher Adalberto Mejia, right, makes the tag at the plate on Tampa Bay Rays' Steven Souza Jr. who attempted to score on a runner's fielders' choice in the second inning of a baseball game Saturday, May 27, 2017, in Minneapolis. AP Photo/Jim Mone) MNJM103
  2. Rays Tales: The stories behind Corey Dickerson's ascension

    The Heater

    The 25 pounds DH/LF Corey Dickerson lost during the winter through diet and exercise are considered the primary reason for his ascension to one of the American League's most productive hitters, going into the weekend leading in hits, multi-hit games and total bases, and ranked in the top five in average, runs and …

    Tampa Bay Rays designated hitter Corey Dickerson (10) connects for a sac fly, scores Tampa Bay Rays first baseman Steve Pearce (28) in the fourth inning of the game between the Seattle Mariners and the Tampa Bay Rays at Tropicana Field in St. Petersburg, Fla. on Wednesday, June 15, 2016.
  3. Gregg Allman of The Allman Brothers Band dies at age 69

    Music & Concerts

    SAVANNAH, Ga. — Music legend Gregg Allman, whose bluesy vocals and soulful touch on the Hammond B-3 organ helped propel the Allman Brothers Band to superstardom and spawn Southern rock, died Saturday, a publicist said. He was 69.

    This Oct. 13, 2011 file photo shows Gregg Allman performs at the Americana Music Association awards show in Nashville, Tenn. On Saturday, May 27, 2017, a publicist said the musician, the singer for The Allman Brothers Band, has died. (AP Photo/Joe Howell, File)
  4. Hall of Fame pitcher Jim Bunning, a former senator, dies at 85

    Ml

    LOUISVILLE, Ky. — Jim Bunning, a former Hall of Fame pitcher who went on to serve in Congress, has died. He was 85.

    In this June 21, 1964 file photo, Jim Bunning of the Philadelphia Phillies pitches a perfect game against the New York Mets at Shea Stadium in New York.  The Phillies beat the Mets, 6-0.  Bunning retired all 27 batters who faced him in the first game of a doubleheader to become the first pitcher in 42 years with a perfect game in regular season play.   (AP Photo/File)
  5. Trump to decide next week whether to quit Paris climate agreement

    Environment

    TAORMINA, Italy —President Donald Trump declined to endorse the Paris climate accords on Saturday, saying he would decide in the coming days whether the United States would pull out of the 195-nation agreement.

    President Donald Trump, right, arrives to a G7 session with outreach countries in Taormina, Italy, on Saturday. Climate and trade were sticking points at the two-day summit in Taormina, Sicily. (AP Photo/Salvatore Cavalli)