By The Hill Staff - 08/07/13 09:00 AM EDT
Known as a master of the federal budget, Lew will have a major role in tax reform’s success or failure.
The president tapped Lew, who had limited experience with the financial markets, to replace Tim Geithner precisely because he thought fiscal issues would be central to his second term.
Tax writers on Capitol Hill had been concerned that the Obama administration had shown limited interest in rewriting the code. But, during his confirmation hearings, Lew tried to reassure the Senate Finance Committee that reform would be a priority.
Now, Lew talks regularly to both Sen. Max Baucus (D-Mont.), Senate Finance Committee chairman; and Rep. Dave Camp (R-Mich.), chairman of the House Ways and Means Committee.
Treasury has also increased its presence on Capitol Hill, with senior officials briefing Ways and Means Committee members in recent weeks on technical issues dealing with small businesses and complex financial products like derivatives.