WASHINGTON (2/14/13)--The Senate Finance Committee met for more than three hours yesterday to conduct the confirmation hearing of Treasury secretary nominee Jack Lew.
President Obama nominated Lew, currently White House chief of staff, in January for the Treasury post. During the hearing, the finance panel quizzed Lew on topics ranging from the complexity of the nation's tax code, to the qualified mortgage definition issued by the Consumer Financial Protection Bureau, to the Treasury's March 1 deadline to eliminate paper delivery of federal benefits checks.
Senate Finance Chairman Max Baucus (D-Mont.) asked Lew to speak to why he would be a great Treasury secretary, not just a good one. Lew said that since his young professional days he has not hesitated to speak his mind on tough issues even if his differs from his boss's.
"I do it with respect, without 'breaking the China,'" he said, but added he never hesitates to deliver a tough message that must be heard.
The committee must now decide whether to forward Lew's name to the Senate floor for a confirmation vote.