Magazine article American Banker

Baker Nears Full Senate Confirmation: Treasury Nominee Sails through Committee Hearing

Magazine article American Banker

Baker Nears Full Senate Confirmation: Treasury Nominee Sails through Committee Hearing

Article excerpt

Baker Nears Full Senate Confirmation

Treasury Nominee Sails Through Committee Hearing

James A. Baker 3d, aiming to become President Reagan's leading financial policymaker as the Secretary of the Treasury, on .wednesday sailed through his Senate Finance Committee confirmation hearing.

The 20-member panel questioned the outgoing White House chief of staff for less than 3 hours on general tax and deficit issues before voting unanimously to recommend him to the full Senate.

A floor vote is expected today or Friday, according to Senate Republican leader Robert Dole of Kansas.

Mr. Baker, 54, a wealthy Houston attorney, avoided disagreeding with his generally friendly interrogators and shied away from revealing any changes in Treasury policy.

The only sour note was voiced outside the hearing by Sen. William Proxmire, D-Wis., who said Mr. Baker "clearly has no qualifications' for the responsibility.

Asked after the hearing if he expected to bring a moderating influence to the Treasury Department, Mr. Baker responded: "I will continue to support the policies of the President.'

When asked if there would be any more surprises, such as his predecessor's radical tax reform plan, he said, "I don't know. We'll just have to wait and see.'

Earlier this month, Mr. Baker and current Treasury Secretary Donald T. Regan said they would exchange positions in the administration. Nomination for Treasury Secretary requires Senate approval, while Mr. Regan's appointment as White House chief of staff does not. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.