Meanwhile, Treasury Secretary nominee Timothy Geithner is expected to be confirmed after answering a series of questions on his own tax history. Geithner initially failed to pay some $43,000 in personal taxes before eventually paying it back. Geithner apologized before the Senate Treasury committee.

Timothy Geithner: “I have gone back and corrected these errors and paid what I owed. I want to apologize to the committee for putting you in the position of having to spend so much time on these issues when there is so much pressing business before the country.”

Geithner went on to discuss the new administration’s plans for an economic recovery.

Timothy Geithner: “A comprehensive plan to help stabilize the core of our financial system so that the banks that are so critical to our economy are able to provide the credit necessary to get recovery going again. He’s going to lay out a comprehensive plan for addressing the housing crisis in this country, which has been so central to the recession and its basic causes. And he’s going to lay out a broad set of programs for trying to directly address the constraints that are now making it harder for small businesses for students, for people who want to buy a car, for municipalities across the country, to get access to credit to make those things.”