Baucus Statement on Treasury, Social Security, Tax Court Nominations
As prepared for delivery
Martin Luther King Jr. once said, “The ultimate measure of a man is not where he stands in moments of comfort, but where he stands at times of challenge and controversy.”
As we consider the men and women before us today, our country is facing serious challenges. America’s economic recovery is still fragile, unemployment is stubbornly high at nine percent and the debt is burdensome. But our history proves that when we meet challenges head on, we are able to rise above them and succeed.
It is in this spirit of optimism that I welcome four dedicated public servants to the Finance Committee today. All of you have been nominated to positions of great responsibility, and you are certain to face hurdles. But I am confident you will rise to the challenge.
Ms. Miller, the President has nominated you to be Under Secretary of the Treasury for Domestic Finance. In this role, you will help oversee our domestic financial system and fiscal policy.
You are no stranger to this Committee. In February 2010, you were confirmed as Assistant Secretary for Financial Markets. Your fine performance in that position led the President to nominate you to take on even more responsibility.
In your new position, you will help stoke job creation by our country’s entrepreneurs. To do so, you must ensure that financial markets are able to gauge risk appropriately, so that resources flow to the most promising and productive areas of our economy. I know you appreciate the magnitude of your mission, and that you will face it with great determination.
Mr. Fitzpayne, the President nominated you to be Assistant Secretary of Treasury for Legislative Affairs. In this role, you will serve as the bridge between Congress and the Treasury Department. You must ensure that Treasury maintains a high level of transparency with Congress, and by extension, with the American people. In these challenging economic times, this will not be an easy task.
Mr. Fitzpayne, you spent nearly a decade working on Capitol Hill, in both the Senate and the House. You therefore know well how Congress works. You understand the timely and appropriate information flow Congress needs from the Executive branch. So I wish you every success in rising to our high expectations of you and your Department.
Ms. Kerrigan, the President has nominated you to be a Judge on the U.S. Tax Court. You are a familiar face to this Committee, as you have served with distinction as tax counsel to Senator Kerry. As a congressional staffer you are highly regarded by your colleagues from both sides of the aisle.
The Tax Court plays an essential role ensuring that our tax laws are administered fairly. The integrity of our tax system hinges on the ability of Americans to have their day in court when they have a legitimate tax problem and to have tax law applied impartially. I know that you will do so carefully and faithfully.
Dr. Aaron, the President has nominated you to be a member of the Social Security Advisory Board. In this climate of fiscal tightening, one of the most important issues facing our country is how to preserve, strengthen and protect Social Security.
I know that you have written extensively on this very issue, and you have a lengthy and distinguished academic background. You have also served on a number of other advisory bodies, and you have a reputation for providing thoughtful and candid advice. I urge you to provide nothing less than that to the Social Security Advisory Board.
For all of you, there will be difficult moments ahead. The positions for which you’ve been nominated are not easy, and these are challenging times for our country. But during times like these, we have the greatest opportunity to determine the future.
So I urge all four of you to be mindful of Dr. King’s words. With determination and courage, you will rise to the occasion and help our country do great things.
I urge my colleagues to support these four highly-qualified nominees.
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