Treasury

Hearings Underway for Treasury Nominee

Jacob Lew faces Senate Committee

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Jacob J. Lew, President Obama's nominee for Treasury secretary, appeared before the Senate Finance Committee on Wednesday morning where he was expected to face questions about his approach to the country's fiscal issues as well as his work on Wall Street.

In his opening remarks, Mr. Lew stressed his longstanding qualifications on budget issues and his ability to work with Republicans.

"Working across the aisle while serving under President Clinton, I helped negotiate the groundbreaking agreement with Congress to balance the federal budget," he said. "And as budget director, I oversaw three budget surpluses in a row even as we pursued policies to speed economic growth and create jobs." He added that he has been involved in "almost every major bipartisan budget agreement over the last 30 years," and that "the things that divide Washington right now are not as insurmountable as they might look."