June 28, 2006

Crapo Says Paulson Good For Treasury

Senate confirms nominee today

Washington, DC â?? Idaho Senator Mike Crapo voted today, both as a member of the Senate Finance Committee and on a full Senate vote, to confirm Henry Paulson as U.S. Secretary of the Treasury. Crapo cited Paulsonâ??s vast experience and knowledge as unsurpassed credentials for the post. Paulson was confirmed by the full Senate by a voice vote.â??Hank Paulson has the experience and stature needed for an effective Treasury Secretary,â?? said Crapo. â??During the confirmation process, he listened to my questions and responded to my satisfaction and I support his confirmation. As Treasury Secretary, Mr. Paulson will hold significant authority and influence over tax policy and other financial sectors that influence the economy. For example, there are efforts in this Congress to change the manner in which we regulate derivatives and how they affect the economy. It is important to have someone who understands how derivatives have helped create a far more flexible, efficient, and resilient financial system. Mr. Paulsonâ??s responses to my questions during todayâ??s hearing were thoughtful, and I anticipate it reflects how he will approach other issues as he serves our country as Treasury Secretary.â??