WASHINGTON – The Senate Finance Committee today voted 18-5 to confirm Timothy Geithner as secretary of the treasury.
The full Senate must now take up the nomination.
Geithner's nomination hit a roadblock following revelations that he had not paid certain taxes in a timely manner.
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During his confirmation hearing yesterday before the panel, Geithner said his failure to pay his taxes on time was "careless" and "avoidable," the Senate Finance Committee is scheduled to vote on his confirmation today.
Geithner, the former president of the Federal Reserve Bank of New York, recently paid more than $30,000 in back taxes stemming from his failure to pay payroll taxes while working for the International Monetary Fund. As secretary of the treasury, he would oversee the Internal Revenue Service.
Finance Committee Chairman Max Baucus (D-Montana) said Geithner's actions were "disappointing mistakes" but he should still be confirmed.
The panel's ranking member Sen. Charles Grassley (R-Iowa), criticized Geithner's actions as well and said they shouldn't be swept under the rug but did not say whether he would vote to confirm him.
Geithner said the administration's approach to repairing the economy will be designed to "demonstrate by our actions a clear and consistent commitment to do what is necessary to solve the problem, then we risk greater damage to living standards, to the economy's productive potential, and to the fabric of our financial system."
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