January 14, 2009 12:59 PM

Geithner Confirmation Still On Track

By
Brian Montopoli
Topics
White House
(AP Photo/Ian Barrett)
Senate Finance Chairman Max Baucus has scheduled a confirmation hearing for President-elect Barack Obama's pick to be Treasury secretary, Timothy Geithner, for next Wednesday, January 21st.

Baucus wanted to hold the hearing this Friday, January 16th, but Republican Sens. Jon Kyl and Jim Bunning opposed holding the hearing on that date, according to the Washington Post. If they lift their objections, Baucus will try to hold the hearing Friday.

Democrats had hoped to have Geithner sworn in by January 20th, Inauguration day, so that he could immediately begin leading the effort to address the economic crisis under the new Obama administration.

Geithner's confirmation has come into question following revelations that he failed to pay tens of thousands of dollars in taxes and employed a housekeeper who lacked proper documents for the last three months of her employment.

The Obama team dismissed Geithner's errors as "honest mistakes," however, and pushed hard to keep the nomination on track. Their efforts appear to have been effective: Democrats and even some Republicans appear poised to back Geithner despite the revelations.

Senate Majority Leader Harry Reid said he is "not concerned at all" about Geithner's confirmation, and Baucus called it a "given." Sen. Charles Schumer, meanwhile, just held a press conference strongly defending Geithner and arguing that while there is a bipartisan belief that he made mistakes, the Federal Reserve Bank of New York president's knowledge and experience are needed during tough times.

As for the Republicans on the committee, they are sending signals that they will back Geithner. Orrin Hatch said he "still support[s] him," while John Ensign told the Associated Press, "I don't think I see enough in there to cause a problem." Pat Roberts also said he was likely to support Geithner.

UPDATE, 2:44 p.m. EST: Mr. Obama expressed his support for Geithner in an afternoon statement.

"My expectation is that Tim Geithner will be confirmed," Mr. Obama said.

Add a Comment See all 34 Comments
by cpataxpro January 15, 2009 4:48 PM EST
I am appalled that the failure to pay self-employment tax by Tim Geithner on his 2001-2004 tax returns would be explained away as an "honest mistake", and that the Obama administration would continue to support Mr. Geithner as the nominee for Treasury Secretary. As a CPA who has worked with employees of international organizations for many years, I can assure you that the employees are briefed on their tax responsibilities, including the requirement that US citizens pay self-employment tax. Mr. Geithner did not pay the self-employment taxes for 2001 through 2004, but of even greater concern is the fact that he did not correct 2001 and 2002 when his 2003 and 2004 returns were audited in 2006. At that point, he could certainly no longer feign ignorance. In fact, he did not correct his "honest mistake" until after his nomination to serve as Treasury Secretary. For an administration that prides itself on transparency and high moral and ethical standards, I am truly disappointed that Obama continues to support Geithner. His failure to correct 2001 and 2002 after the audit of 2003 and 2004 reflects an attitude of arrogance and being above the law which is not acceptable. To allow him to continue as the nominee under these circumstances is a slap in the face to all Americans who honestly report their income and pay the tax due.
Reply to this comment
by dmathews35 January 15, 2009 2:40 PM EST
According to AP:

Geithner was reimbursed for the taxes he was suppose to pay in the first place. They conveniently left that out of the story.

WASHINGTON(AP)
Geithner Accepted IMF Reimbursement for Taxes He Didn%u2019t Pay
Reply to this comment
by dmathews35 January 15, 2009 1:42 PM EST
According to AP:

Geithner was reimbursed for the taxes he was suppose to pay in the first place. They conveniently left that out of the story.

WASHINGTON(AP)
Geithner Accepted IMF Reimbursement for Taxes He Didn%u2019t Pay
Reply to this comment
by enviro_wacko January 15, 2009 1:07 AM EST
If Obama is sincere about his mantle of change, then he should dump this dude, who can''''''''''''''''t seem to come up with the IRS''''''''''''''''s change; the same IRS he''''''''''''''''ll be heading, who will be shaking us down for our change. Speaking of change, why are we seeing all of these old washed up Clinton hacks again. There''''''''''''''''s got to be more talented people in the country than these.

Posted by l00ker1 at 09:50 PM : Jan 14, 2009

Here''s a clue: if you delete the extra apostrophes when you cut and paste, it will be less obvious that you are repeatedly posting the same trite banter. ;-)
Reply to this comment
by enviro_wacko January 14, 2009 11:06 PM EST
See obama does not understand having to pay tax. He has drank out of the public trough his whole life so this is no big deal.

Posted by specialty8 at 05:26 PM : Jan 14, 2009

Really, he has drank out of it. LMAO!

Two words: remedial English.

Four more: basic critical thinking skills.
Reply to this comment
by career_fed January 14, 2009 9:29 PM EST
I%u2019ve been a Treasury Department employee since January of 1973, but even with 36 years of seniority if I failed to pay my taxes timely and in full, I%u2019d be out of a job. Period. It doesn%u2019t matter whether it was intentional or an %u201Chonest mistake.%u201D

The IRS, which is part of Treasury, has absolutely no tolerance where its employees and the payment of their taxes are concerned, and they will not hire someone who has ever not paid their taxes timely and in full. What kind of a precedent would it set for the Treasury Secretary to be allowed to get by with something that would never be tolerated by those of us who would be reporting to him?

By confirming Mr. Geithner as Secretary of the Treasury, Congress would undermine the standards to which Treasury employees are held.
Reply to this comment
by dumdnc January 14, 2009 9:12 PM EST
Ya know, maybe he''s picking who he is TOLD to pick. Bet george soros is bff''s with a bunch of these ex-clintonistas. After all, moveon.org was established for the clintons.
Reply to this comment
by dumdnc January 14, 2009 9:10 PM EST
Do you libs know why you hold consevatives in conempt?? Well, I''ll tell you, contempt is an emotion that comes about when you don''t have a solid argument against the opposition. Notice I said opposition, not enemy. Until you people stop thinking of those who hold different political view as enemies we are royally scre*&d! Then again, that''s what your party counts on.
Reply to this comment
by dumdnc January 14, 2009 9:07 PM EST
Well, along with this jerk how about his choice for "climate czar"?? He names carol browne with strong ties to a socialist group. Of course you won''t read that here. See, your msm counts on you leemings looking no further. AND, if you do, why, the old tried and true LIES. Anything that can be seen as even the slightist bit negative for your chosen one will be called lies. In ms brown''s case, growt a set and look it up.
Yep, the policies your chosen one will set forth will change our lives, and not in a good way.
Reply to this comment
by emelder January 14, 2009 8:48 PM EST
Barack: It''s time to take a stand ... withdraw his nomination and get someone with a clean record. No exceptions ... we thought you were going to clean house!
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