The Senate Finance Committee on Tuesday backed President Barack Obama’s nominee to head the Treasury, Jack Lew, overlooking the perks he got from previous employers and clearing the way for a full-Senate confirmation vote.
The 19-5 vote saw about half of the panel’s 11 Republicans opposing Lew’s nomination, which could be brought to the Senate floor for a final vote as early as Wednesday.
Some Republicans hold deep reservations about the nomination, and it is unclear whether they will throw up procedural hurdles to the vote. Nevertheless, Lew is expected to eventually win confirmation in the Senate, where Democrats hold a 53-45 majority.
via CNBC
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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