Wednesday, January 21, 2009
The chairman of the Senate Finance Committee says he believes the failure by Treasury Secretary-designate Timothy Geithner to pay $34,000 in Social Security and Medicare taxes between 2001 and 2004 were "disappointing mistakes."
But Sen. Max Baucus also said Wednesday he thinks any such "mistakes" were innocent ones.
The Montana Democrat said that with the country facing a deepening economic crisis, Geithner needs to get to work to restore confidence in the U.S. economy.
"It won't be easy," Baucus said the opening a hearing on Geithner's nomination. But, he added, "I'm confident that Mr. Geitner is up to the job."
Treasury Secretary-designate Tim Geithner says he was careless in failing to pay $34,000 in Social Security and Medicare taxes earlier this decade and has apologized to Congress.
At his confirmation hearing, Geithner called the transgressions "careless mistakes" and unavoidable ones.
He told the Senate Finance Committee the failure to pay was "unintentional." But he also said, "I should have been more careful."