The Senate Finance Committee will vote Tuesday on President Obama’s nominee for Treasury secretary, Jack LewJack LewOne year later, the Iran nuclear deal is a success by any measure Chinese President Xi says a trade war hurts the US and China Overnight Finance: Price puts stock trading law in spotlight | Lingering questions on Trump biz plan | Sanders, Education pick tangle over college costs MORE.
Lew, formerly Obama’s chief of staff, has faced some questions from Republicans about an investment in the Cayman Islands, and over his tenure at Citigroup between the Clinton and Obama administrations.
Top Democrats have said that Lew should have no issue getting confirmed, and the top Republican at Finance, Sen. Orrin HatchOrrin HatchOvernight Finance: US preps cases linking North Korea to Fed heist | GOP chair says Dodd-Frank a 2017 priority | Chamber pushes lawmakers on Trump's trade pick | Labor nominee faces Senate US Chamber urges quick vote on USTR nominee Lighthizer Live coverage: Day three of Supreme Court nominee hearing MORE (Utah), praised Lew’s appearance before the committee.
Timothy Geithner, President Obama’s first Treasury secretary, left the post in January. Neal Wolin, who held the No. 2 spot at Treasury in Obama’s first term, has been the acting head of the department since Geithner left.
Lew has spent decades working on the federal budget, acting as budget director for both Presidents Clinton and Obama after earlier working for former Speaker Tip O’Neill (D-Mass.) in the 1980s.
That experience, Democrats say, will serve the administration well as it tries to keep the economic recovery going and tries to make tough decisions to put the nation’s fiscal books in order.
Democrats have also noted that Lew has met with more than 40 senators and answered more than 400 questions in writing – more than five times as many as Henry Paulson, President Bush’s last Treasury secretary.
Republicans have also questioned Lew about his role in putting the sequester in place, just days before the $85 billion in automatic cuts are scheduled to start.
Sen. Chuck GrassleyChuck GrassleyFriends, foes spar in fight on Trump’s Supreme Court nominee Live coverage: Day three of Supreme Court nominee hearing Live coverage: Day two of Supreme Court nominee hearing MORE (R-Iowa), a former Finance chairman, has especially scrutinized Lew’s answers about a loan he received while working for New York University and benefits received while Lew was at Citigroup.