Senate to vote today for U.S. Secetary of the treasury at 4:00 p.m. Please help by sending emails to the SenateSubmitted by usavsus on Mon, 01/26/2009 - 13:16
Timothy Geithner ( President of the FEDERAL RESERVE BANK OF NEW YORK), is Barack Obama's nominee to succeed Henry Paulson as United States Secetary of the Treasury
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The Senate Finance Committee on Thursday cleared the nomination of Timothy Geithner as treasury secretary despite unhappiness over his mistakes in paying his taxes.
The committee approved the nomination on an 18-5 vote, sending it to the full Senate for a vote which was expected to take place on Monday. President Barack Obama is hoping for quick approval so that the point man for the administration's economic rescue effort can begin work.
The committee vote came a day after Geithner appeared before the panel to apologize for what he called "careless mistakes" in failing to pay $34,000 in taxes earlier in the decade, when he worked at the International Monetary Fund.
Geithner paid the back taxes plus interest for the years 2003 and 2004 after being audited by the Internal Revenue Service. But he did not pay taxes he owed for 2001 and 2002, even though he had made the same mistakes for those years, until shortly before he was nominated by Obama last November to be treasury secretary.
The nomination was expected to win approval by the full Senate, with many lawmakers saying that given the serious economic crisis facing the country, the new president deserved to have the services of a man of Geithner's abilities and experience.
Presidential press secretary Robert Gibbs told reporters at the White House that Obama was very pleased with the committee vote in support of Geithner. He said Obama "will make decisions shortly" on the overhaul of the financial rescue program to meet widespread objections.
Gibbs said the administration's changes would include restrictions to limit executive compensation at banks receiving support from the government and stronger requirements that banks use the government support to boost their lending to households and businesses.
"The president will do everything possible to prevent a financial catastrophe, to ensure the working of the financial system, to get credit and lending moving again," Gibbs said.
Geithner has been the head of the Federal Reserve Bank of New York for the past six years and was a key participant in decisions made by the Bush administration to deal with the worst financial crisis to hit the country since the Great Depression.
All five of the "no" votes on the committee came from Republicans, including the top GOP member of the panel, Sen. Charles Grassley, R-Iowa. Those voting no said that they did not believe Geithner had been candid in his answers on why he failed to pay Social Security and Medicare taxes. They said they viewed this as a serious error for an official who would head the agency that oversees the IRS.
"I am disappointed that we are even voting on this," said Sen. Michael Enzi, R-Wyo. "In previous years, nominees who made less serious errors in their taxes than this nominee have been forced to withdraw."
Even Democrats who voted for the nomination said they were disappointed in Geithner's actions. Continued...
FULL SENATE VOTE MONDAY 1/26!
SENATE VOTE ON MONDAY (1/26) FOR GEITHNER...PLEASE CALL YOUR SENATORS AND TELL THEM "NO" ON GEITHNER!
UNANIMOUS CONSENT AGREEMENT
Timothy G. Geithner (Cal. No. 3)
Ordered, That on Monday, January 26, 2009 at 4 p.m., the Senate proceed to executive session to consider the nomination of Timothy F. Geithner, of New York, to be Secretary of the Treasury; that there be 2 hours of debate, with the time equally divided and controlled between the Chair and Ranking Member of the Committee on Finance or their designees; that at 6 p.m., without further intervening action or debate, the Senate proceed to vote on confirmation of the nomination; that upon confirmation, the motion to reconsider be laid upon the table; that no other motions be in order; and that the President be immediately notified of the Senate's action and the Senate then resume legislative session.WE ARE GETTING THROUGH AMERICA!
AMERICA...YOUR VOICE IS BEING HEARD...PLEASE KEEP IT UP...KEEP EMAILING...KEEP CALLING...GET YOUR VOICE HEARD...YOU ARE WHAT IS GOING TO MAKE THE DIFFERENCE AND STOP THE MADNESS!
CALL YOUR SENATORS AND TELL THEM "NO" ON GEITHNER TODAY!
Statement by U.S. Senator Chuck Grassley of Iowa
Ranking Member of the Committee on Finance
Nomination of Timothy F. Geithner to be Secretary of the Treasury
Thursday, January 22, 2009
During yesterday’s confirmation hearing, Mr. Geithner gave answers to committee
member questions about his tax compliance problems. The nominee’s answers to the committee and during the vetting process give me pause. The explanations for irregularities have ranged from statements that he should have known, to proclamations that if only his accountants had warned him he would have done the right thing.
I received a message yesterday from a constituent in Dubuque expressing concern about this nomination.
The constituent wrote, “If the man cannot handle his own finances, how is he going to handle the country’s?”
The Senate may vote to confirm the nomination of Mr. Geithner. If so, I will work with
him to do what needs to be done for economic recovery, including the areas of tax and fiscal policy and new markets through international trade. I will also work to fulfill my obligations as a United States Senator in our system of checks and balances.
That said, I cannot vote to confirm the nomination based on the record and the need to foster greater accountability in both big government and our financial institutions.
WE ARE THE NECK THAT TURNS THE HEAD - LET’S START TWISTING!