Senate panel OKs Lew for Treasury


The U.S. Senate Finance Committee on Tuesday voted Tuesday to back Obama nominee Jack Lew as Treasury secretary despite qualms about his reputation as a doctrinaire Democrat and his ties to Wall Street.

Senators voted 19-5 in favor of Lew, with several Republicans joining with the majority Democrats, paving the way for a full Senate vote as early as Wednesday.

President Barack Obama nominated Lew, formerly his White House chief of staff, to replace Timothy Geithner, who stepped down last month after four years marked by the country’s deepest economic crisis since the 1930s.