June 05,2009

Baucus Comments on Trade and Treasury Nominations

Washington, DC – Senate Finance Committee Chairman Max Baucus (D-Mont.) commented today following a Finance Committee hearing to consider the nomination of Miriam Sapiro to be the Deputy U.S. Trade Representative, with the rank of Ambassador; the nomination of George Madison, to be General Counsel, U.S. Department of Treasury; and the nomination of Kim Wallace, to be Assistant Secretary for Legislative Affairs, U.S. Department of Treasury. The Finance Chairman called attention to the importance of maintaining a dialogue between the respective agencies and members of Congress in order to more effectively accomplish the nation’s economic objectives at home and abroad.

“I want each nominee to understand the importance of working closely with Congress and this Committee in order to enhance communication and minimize conflicts and misunderstandings. This is not just important, it’s essential and expected,” Baucus said. “And promoting U.S. exports and moving trade agreements that benefit American producers is essential to our economic recovery. Each of these nominees brings a wealth of experience to the table. I’m confident that they understand the tremendous challenges our country faces, but will find ways to strengthen America’s economic security and prosperity in the face of these challenges. I look forward to working with each nominee in the coming weeks and months.”

Baucus questioned Sapiro about the timeline for developing the Administration’s new trade policy framework and for moving the Panama trade agreement forward. He sought her assurance that the Administration would consult closely with Congress on these and other issues. He also reiterated that any Doha deal must provide real benefits to American workers, farmers, and ranchers. Sapiro assured Baucus that she is committed to improving access for American exports and echoed the Senator’s own sentiment that “no deal is better than a bad deal.”

Baucus also pressed Treasury General Counsel-designate Madison on the status of Treasury guidance to address the ongoing issue of banks freezing accounts containing protected federal benefits, such as Social Security benefits. Madison suggested that if confirmed, he would work with the other federal agencies and the banks to resolve the issue quickly and report back to Finance. Senator Baucus held a hearing on this issue in September of 2007 and has been working with Treasury to fix the problem.

Opening statements and full video footage of today’s hearing may viewed on the Finance Committee website. The schedule for a Committee vote on these nominations will be determined and announced in the coming days.

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