Senate panel approves Geithner as Treasury secretary

The Senate Finance Committee approved the nomination of Timothy Geithner to be Treasury secretary a few minutes ago by an 18-5 vote, according to our congressional reporter Rebecca Neal. The committee’s approval was expected despite concerns by many senators that Geithner failed to pay more than $30,000 in self-employment taxes earlier this decade when he worked at the International Monetary Fund. Geithner apologized for the error, repaid his owed amount, and said it was an unintentional mistake. Some senators including Sen. Charles Grassley, R-Iowa, said it sends a bad signal to appoint a Treasury secretary — which oversees the IRS — who failed to pay taxes.