July 28,2011

Press Contact:

Communications Office

Baucus Urges Confirmation of Treasury, Tax Court Nominees

Finance Chair Says Nominees Will Help Improve Economy, Create Jobs, Protect Taxpayers

Washington, DCSenate Finance Committee Chairman Max Baucus (D-Mont.) today urged the confirmation of Janice Eberly to be Assistant Secretary of the Treasury for Economic Policy and the reconfirmation of Judges Juan F. Vasquez and Maurice B. Foley to the U.S. Tax Court.  At today’s hearing, Baucus said Eberly’s confirmation will strengthen the Treasury Department’s work creating jobs and boosting the economy, and Vasquez’s and Foley’s reconfirmations will maintain the Tax Court’s record of providing a fair forum for resolving taxpayers’ issues and sound oversight of tax-related legal matters.

“These well-qualified nominees will provide strong leadership to help improve our economy, create jobs and protect taxpayers,” Baucus said.  “Janice Eberly will be a steady hand directing the Treasury’s Office of Economic Policy as it finds ways to bolster the economy and create jobs.  Judges Vasquez and Foley will continue to serve with distinction, giving taxpayers an opportunity to make their voices heard.” 

Baucus discussed the challenges ahead for the Treasury’s economic advisors, as it looks to boost the economy and create jobs while controlling deficits.  He said that Dr. Eberly’s experience has her well prepared to fill that role.  Eberly joined the faculty of Northwestern University in 1997 and is currently the John L. and Helen Kellogg Distinguished Professor of Finance at Northwestern’s Kellogg School of Management.  She previously served on advisory panels of the Bureau of Economic Analysis and the Congressional Budget Office and on the staff of the White House Council of Economic Advisors.  As Assistant Secretary for Economic Policy, Eberly would direct the Office of Economic Policy, which analyzes and reports on economic issues and assists in the preparation of the Administration’s annual budget.

Baucus spoke with Judges Vasquez and Foley about their strong track records serving on the Tax Court and their thorough backgrounds in tax law.  Juan F. Vasquez and Maurice B. Foley have served as U.S. Tax Court Judges since they were appointed by President Clinton in 1995.  If their reappointments are approved, both will serve second 15-year terms.  The United States Tax Court hears a variety of tax law-related cases and gives taxpayers a dedicated venue in which to dispute IRS claims.  Vasquez is also an adjunct professor at the University of Houston Law Center.  Foley previously served as Deputy Tax Legislative Counsel in the Treasury’s Office of Tax Policy and as an attorney-advisor for the IRS.

The Finance Committee will next meet at a later date to vote on the nominations.  If the Committee approves the nominations, they will then move to the full Senate for consideration and a confirmation vote.