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Geithner nomination presses forward
Wednesday, January 14, 2009 | No comments posted.
WASHINGTON (AP) — A Capitol Hill grilling is likely for Timothy Geithner, President-elect Barack Obama’s pick to head the Treasury Department, after public revelations he failed to pay $34,000 in taxes several years ago.
Senate Democrats are pressing to schedule a quick confirmation hearing for Geithner on Friday, hoping to tee up swift approval of his nomination on Inauguration Day. But newly released information about the tax goofs by Geithner, regarded as a brilliant financial markets specialist well-positioned to deal with the nation’s considerable economic problems, could complicate the process.
Republicans have yet to sign off on expediting the hearing, although senior Democrats expressed confidence that the disclosures would do little to slow Geithner’s path to confirmation. At least one Republican, Sen. Orrin Hatch of Utah, said he had “no problem” with Geithner.
Still, the disclosures virtually guarantee a tough hearing for Geithner before the Senate Finance Committee, which is considering his nomination.
Geithner failed to pay self-employment taxes for money he earned from 2001 to 2004 while working for the International Monetary Fund, according to materials released Tuesday.
Senate Democrats are pressing to schedule a quick confirmation hearing for Geithner on Friday, hoping to tee up swift approval of his nomination on Inauguration Day. But newly released information about the tax goofs by Geithner, regarded as a brilliant financial markets specialist well-positioned to deal with the nation’s considerable economic problems, could complicate the process.
Republicans have yet to sign off on expediting the hearing, although senior Democrats expressed confidence that the disclosures would do little to slow Geithner’s path to confirmation. At least one Republican, Sen. Orrin Hatch of Utah, said he had “no problem” with Geithner.
Still, the disclosures virtually guarantee a tough hearing for Geithner before the Senate Finance Committee, which is considering his nomination.
Geithner failed to pay self-employment taxes for money he earned from 2001 to 2004 while working for the International Monetary Fund, according to materials released Tuesday.
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