Treasury Secretary Geithner is testifying on the President’s 2011 budget proposal at the moment in front the Senate Finance Committee, highlighting the proposed $5,000 tax credit to employees but also making the case for financial reform. (Live stream is here.)
“We need to take the savings of Americans and channel them to innovation,” rather than real estate speculation, Geithner remarks. He’s pushing hard on the Obama administration’s proposed fee on the banks to bring the cost of TARP, now at $117 billion, down to zero, he says.
Full text of Geithner’s prepared remarks is here, though he’s strayed somewhat from the script in this morning’s testimony.
Jay Rockefeller of West Virginia kicked off questioning by deploring the lack of support for clean coal development that he could show off to West Virginians.
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