US Senate Expected to Confirm Mnuchin as Treasury Secretary

US Senate Expected to Confirm Mnuchin as Treasury Secretaryā€¯

A Senate committee vote on Treasury Secretary nominee Steven Mnuchin has been pushed to Tuesday morning.

The Senate continued pushing through President Donald Trump's Cabinet Monday by backing financier Steven Mnuchin to be secretary of the Treasury, despite howls from Democrats who characterized the producer of such Hollywood fare as "Batman v Superman: Dawn of Justice" as a villain who feasted on unfair foreclosures. The Senate voted almost along party lines, with only West Virginia's Joe Manchin breaking from his Democratic colleagues, who had previously labeled Mnuchin "greedy" and dubbed him the "foreclosure king". Joe Manchin (W.Va.), voting in favor of the former Goldman Sachs banker and 47 Democrats voting in opposition.

As part of a deal that allowed Mnuchin and McMahon to be put to a final vote, the Senate also late February 13 voted to confirm the nomination of David Shulkin to be secretary of Veterans Affairs. The vote was 100-0.

"Mr. Mnuchin's entire career can be effectively summarized in one line: privatizing profits and socializing losses", said Sen.

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Republicans lauded Mnuchin's lengthy experience in the field.

Senators confirmed Mnuchin late February 13 and were set to consider early February 14 the nomination of Linda McMahon to head the Small Business Administration.

"He has experience managing large and complicated private-sector enterprises and in negotiating hard compromises and making tough decisions - and being accountable for those decisions", said Sen.

When pressed by Democrats to explain the omissions, Mnuchin said: "I did not use a Cayman Island entity in any way to avoid taxes for myself". Senate Democratic Leader Chuck Schumer and Sen. Republicans on the committee broke with protocol and pushed Mnuchin's vote to the Senate floor after a boycott by Democrats.

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Democrats had argued that Mr Mnuchin had made a fortune foreclosing on families during the financial crisis.

Treasury and White House representatives did not respond to requests for comment late on Sunday on a Bloomberg report that Trump would soon nominate David Malpass, a former economist at failed Wall Street bank Bear Stearns, as Treasury undersecretary for global affairs. "That's a broken promise".

Mnuchin's confirmation vote was contentious, but far less dramatic and the criticism more muted than with Trump's Education Secretary Betsy DeVos and Attorney General Jeff Sessions.

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