More Videos
- Stocks End Off Lows as Fed Raises Forecast
- 'Weatherization' Seen Saving Jobs as Well as Energy
- Boeing, Duke Energy Win Smart Grid Stimulus Grants
- Stocks Slide, Dragged Down by GDP, HP
- WestLB Wins Another Late-Game Rescue: FinMin
- FDIC Fund Falls into The Red, Bair Urges Lending
- Italy Finds Proposal to Skip Lunch Hard to Digest
- Stocks Slide as Oil Drops Below $76
- BoE Secretly Loaned $102.9 Billion to RBS, HBOS
- Strong Banks, Weak Credit: Treasury Rethinks TARP
MOST SHARED
- The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed
- Amended Berkshire Hathaway Filing Indicates No Secret Stock Stakes at End of Q3
- CNBC Anchor Takes a Sabbatical
- NBA D-League On The Rise
- Wednesday's Economic News Crunch Could Tilt Markets
- Celling Flu Vaccines
- Madoff—The Holiday Drink
- Citi Mortgage Reveals What Treasury Won't
- Privately Held Facebook Creates Dual-Class Stock
- Cramer’s Christmas List
- Call Me Crazy: Confessions of a Black Friday Shopper
- US Firms Hit by Payroll Taxes at Exactly the Wrong Time
- Citi Mortgage Reveals Something the US Treasury Won't
- Fed Sanguine About US Recovery, Worried on Jobs
- Amended Berkshire Filing Reveals No 'Secret' Holdings
- In Time for Holidays: More Gloom and Doom on Economy
- Market Pros Reveal Top Black Friday Trades
- Holiday Guide to This Season's Smartphones
- Turkey Day 101: How Well Do You Know Your Bird?
- Citi Mortgage Reveals What Treasury Won't
- S&P to Hit 1,200 by Year-End: Chief Investor
- Amended Berkshire Hathaway Filing Indicates No Secret Stock Stakes at End of Q3
- Facebook's Biggest-Ever Holiday Shopping Season
- Facebook's New Dual Class Structure - Slow Steps to an IPO
- 5 Big Bank Stocks Investors Should Consider: Strategists
- Gambling Drunk, Texting to Live And America's On Sale - Your Emails
- Nov. 24: Unusual Volume Leaders
- NBA D-League On The Rise
Text Size 
The top Republican on the Senate Finance Committee said Wednesday the panel delayed a hearing on the nomination of Timothy Geithner to head the U.S. Treasury to give senators more time to reflect on Geithner's failure to pay payroll taxes.
In an interview on CNBC, Grassley said members of the committee needed "time to reflect" on a report the panel released Tuesday on the tax matter.
(Video at left: Watch Sen. Grassley's interview.)
"If this hadn't come up...this would have been handled very quickly, to get a new secretary of the Treasury sworn in very quickly," Grassley said.
Grassley said, as with any nominee, he would not make up his mind on whether to support Geithner until after the hearing, which is now set for Jan. 21.
As a result, Geithner won't be able to be confirmed in time to take office next Tuesday, when Obama is sworn into office.
Democrats and Republicans on the panel are voicing support for Geithner despite revelations this week that he failed to pay $34,000 in taxes several years ago. Geithner has paid back the taxes he owed.
And, panel chairman Max Baucus, a Montana Democrat, says Geithner's confirmation is "a given."
Baucus also told reporters he believed Geithner would win approval despite questions over his taxes and a housekeeper who worked for him briefly without proper immigration papers.
Asked when he would hold a hearing on Geithner, Baucus said: "As soon as possible, but it's looking like the latest date will be Wednesday. Earlier if we can."
Asked if Geithner would ultimately be confirmed, he answered: "Yes, clearly."
Utah Republican Sen. Orrin G. Hatch calls his tax problems "a mistake that a human being can make," and Kansas Republican Pat Roberts says he'll probably vote to confirm Geithner.
Print
Email
- Remember when auto shows were major events where new models could generate buzz?
- CNBC’s Mike Huckman visits a cutting-edge plant to see how the flu vaccine of the future is being made.
- People who bottle up their anger at work are up to five times more likely to suffer a heart attack, a study found.
- Playboy will outsource its publishing operations in a bid to become profitable again.
- A new McDonald's in Manhattan is the nation's first to sport a sleek, chic interior imported from stores in London and Paris.
- For nearly three decades, these on-call experts have been dishing advice on how to – and not to – cook turkey.
Data is a real-time snapshot *Data is delayed at least 15 minutes