Treasury Secretary Geithner Testifies Before Appropriations Subcommittee

This story appeared in Bank Digest.

Treasury Secretary Tim Geithner testified (written testimony) (statement as prepared for delivery) before a Senate Appropriations Committee subcommittee on two subjects: the Treasury's budget for the next fiscal year and the agency's efforts to support the economy. Geithner told the subcommittee that the agency intends to focus on four goals next year: repairing and reforming the financial system; boosting voluntary compliance with the tax code; advancing the nation's global economic interests and security; and rebuilding the Treasury's professional staff. He said the budget request included nearly $500 million in cost savings and new revenue.