Treasury Nominee Overcomes Tax Issues, Wins Lawmaker's Support

Nov. 18, 2009— -- Lael Brainard, President Obama's nominee to take over the top international position at the Treasury Department, has secured the support of a key senator after a lengthy investigation into her tax history.

Senate Finance Committee Chairman Max Baucus announced Wednesday that he was "satisfied" with Brainard's efforts "to fix the discrepancies in documents submitted to the committee."

In announcing his support for Brainard's nomination to become undersecretary for international affairs, Baucus said the committee would "move forward as soon as possible" to get her confirmed. Brainard was nominated to the post back in March, but for months the Senate panel had been reviewing her personal tax returns, specifically her use of a home office tax deduction.

"There is nothing in the record that in any way could call into question her qualifications or ability to carry out the duties of this position," Treasury spokesman Andrew Williams told ABC News, noting that Brainard and her husband Kurt Campbell filed joint tax returns -- and Campbell faced little opposition from the Senate when lawmakers confirmed him as the State Department's assistant secretary for East Asian affairs in less than two months last spring.

"Her nomination has been pending for over six months, and given the many challenges facing the Treasury Department and the nation, it is critical that she be confirmed as soon as possible," Williams said.

But despite winning Baucus' support, Brainard has not yet secured the approval of the panel's ranking Republican, Sen. Chuck Grassley. The Iowa lawmaker said Brainard's nomination had been held up because "it took so many rounds of questions to try to get complete answers from the nominee."