The Senate Finance Committee on Thursday approved the nomination of Jack Lew, former White House chief of staff, as treasury secretary by a 19-5 vote, Politico reports. Kelsey Snell writes Lew’s nomination
MoreThe U.S. Treasury hit the debt ceiling Dec. 31, 2012 and is running out of avenues to avoid a default, Treasury Secretary Timothy Geithner has told Congress in a letter. According to
More by Ross Wilkers
Timothy Geithner has written a letter to Congress saying the federal government will hit the debt ceiling on Monday, Dec. 31, according to a CNN Money article. As a result, the Treasury Department
MoreWhite House Chief of Staff Jack Lew is the favorite to succeed Timothy Geithner as treasury secretary for President Barack Obama’s second term, Bloomberg reports. However, Hans Nichols and Julianna Goldman report
More by Ross Wilkers
According to a GovExec report, six Cabinet positions could see changes for President Barack Obama’s second term, continuing a historical trend of turnover for two-term presidents. Sophie Quinton writes that on average,
More by Ross Wilkers
Treasury Secretary Timothy Geithner will play a supporting role in negotiations between the White House and Congress on how to resolve the fiscal cliff, GovExec reports. Steve Bell, a budget analyst at
More by Ross Wilkers
The Obama administration on Wednesday will propose cutting the top corporate tax rate from 35 to 28 percent, a senior administration official told Reuters. The proposal also would cut the manufacturing corporate
More by Ross Wilkers
Treasury Secretary Timothy Geithner announced Sunday he is staying on the job at President Barack Obamaâs request. Reuters reports Geithner considered stepping down after the federal debt ceiling was raised. However, Obama
More by Ross Wilkers
Even if the federal government completely stops discretionary program spending in the second half of fiscal 2011, the savings would not be enough to cover federal debt obligations, FierceGovernment.com reports. The Congressional
More by Ross Wilkers