Geithner set to defend Obama budget before Senate

[March 12, 2009]  WASHINGTON (AP) -- Treasury Secretary Timothy Geithner plans to defend Obama administration policies on taxes and bank relief before the Senate Budget Committee.

Geithner is expected to be questioned sharply on a proposal to restrict tax deductions for upper-income taxpayers. Lawmakers from both parties have panned the plan.

Budget Committee Chairman Kent Conrad of North Dakota has said President Barack Obama's ambitious budget contains a number of difficult provisions that will have to be either dropped or changed.

Senators will probably focus on a proposal to have polluters purchase government permits for their carbon emissions.

[Associated Press]

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