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Geithner sworn in as Treasury Secretary

January 27, 2009

By now you know that Timothy Geithner was confirmed by the Senate yesterday afternoon and immediately sworn in as the new Treasury Secretary.

But in case you missed the ceremony, here are his first official remarks. They aren't long, starting at six minutes into the video below, or here if you can't see it in your browser or are reading this via a feed rather than the blog page.

There were no big surprises in Geithner's remarks. Obviously, Treasury's first and major task is helping implement programs to get our economy back on track.

Geithner also hit all the right rhetorical notes about launching "the programs that will bring economic recovery sooner" and restoring "trust in our financial system" and "confidence in America's economic leadership around the world."

As for his buddies at IRS, where he had some personal filing issues pre-nomination, Geithner made one brief mention, vowing to "make our tax system better at rewarding work and investment."

And while his comments overall don't really lend themselves to any kind of tea leaf reading analysis, I suspect the inclusion of the word "investment" will give some remote hope to folks who want to see capital gains taxes remain at least at their current low levels. We shall see.

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TAX-SAVVY WAYS 
TO WRAP UP 2026

It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill. 

You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.

Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings. 

Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year. 

So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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