Bill name-checks Treasury secretary

ryanteaguebeckwith — Tue, 31 Mar 2009 14:29:55 -0400

A state legislator thinks everyone should get Timothy Geithner's deal.

Rep. Jerry Dockham, a Davidson County Republican, has filed the Geithner Tax Fairness for N.C. Citizens Act, named for the current Treasury secretary.

During his confirmation hearings, Geithner revealed that he had failed to pay $34,000 in back taxes. He paid the Internal Revenue Service the taxes plus interest, but was not fined.

Dockham's bill would allow North Carolinians who owe $50,000 or less in back taxes on their state income tax to also avoid a penalty fine.

"If he got that benefit, I think the average citizen should get the same courtesy," Dockham said.

Ultimately, Dockham argued that Congress should enact a similar bill, but he said he's just a state legislator so he'll stick with North Carolina for now.

Burr opposes Geithner nomination

ryanteaguebeckwith — Fri, 23 Jan 2009 11:21:39 -0500

U.S. Sen. Richard Burr is opposing the nomination of a new Treasury secretary.

The Winston-Salem Republican said in a statement that he has given "the benefit of the doubt" to President Barack Obama's Cabinet nominations so far and he has been pleased with many of them.

But he said he was troubled by nominee Timothy Geithner's tenure on the New York Federal Reserve, especially his support for what Burr called the "ill-conceived" proposed merger of Citigroup and Wachovia.

"During his tenure at the New York Federal Reserve, Mr. Geithner was a leading participant in many late-night, closed-door deals made between major financial institutions and the federal government," Burr said in a statement.

In addition, Burr said he was troubled by Geithner's failure to pay self-employment taxes while working for the International Monetary Fund.