U.S. Senator Orrin Hatch (R-Utah), Ranking Member of the Senate Finance Committee that oversees the Department of Treasury, issued the following statement after President Obama nominated Jacob Lew to serve as Treasury Secretary replacing Tim Geithner:
"The Secretary of the Treasury occupies one of the most significant roles in our government - directing far-reaching policies that impact nearly everyone, from middle-class families and Main Street businesses to major corporations and our international allies. The Senate, as is its role under the Constitution, and the Finance Committee in particular in examining Mr. Lew's nomination to serve as Treasury Secretary, have an obligation to carefully, thoroughly and fairly vet and scrutinize the President's nominees.
"As I told the President yesterday, it's imperative that Mr. Lew outline the Administration's plans on tackling our unsustainable debt, what areas of federal spending should be cut, and what kind of reforms -- from our tax code to our entitlement programs - are needed to get our fiscal house in order. Since Mr. Lew participated in numerous budget negotiations with Congress and with four consecutive years of over $1 trillion deficits, the American people deserve to know not only that this nominee is qualified for the job, but also what policies the White House supports to get federal spending under control. That is the Finance Committee's task as we move ahead with considering this nomination and those are the questions I need answered before deciding whether or not to support this nomination."