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TREASURY

Geithner: Obama won’t ask me to stay in post

Timothy F. Geithner said Wednesday that he doesn’t expect to serve a second term as Treasury secretary. He said he doesn’t think President Obama would ask him to remain if Mr. Obama won re-election.

“He’s not going to ask me to stay on, I’m pretty confident,” Mr. Geithner said in a Bloomberg Television interview. “I’m also confident he’s going to have the privilege of having another Treasury secretary.”

Mr. Geithner is the only remaining top official on Mr. Obama’s original economics team. He had considered leaving in August after the congressional battle over raising the debt limit was resolved.

Mr. Obama asked him to reconsider and remain in the Cabinet, and Mr. Geithner did. But the incident heightened expectations that Mr. Geithner would serve only through the 2012 election.

HOUSE

Giffords resigns seat to focus on recovery

Rep. Gabrielle Giffords has resigned from the House with a standing ovation from her colleagues, more than a year after she was gravely wounded by a would-be assassin.

The Arizona congresswoman formally resigned after a series of tributes from her colleagues. She’s stepping down to focus on her recovery from a gunshot wound to the head.

As Ms. Giffords sat in the chamber’s front row, lawmakers praised her dignity, grace and perseverance. Her mother, Gloria, and husband, retired Navy Capt. Mark Kelly, who is a former astronaut, watched from the gallery. Ms. Giffords stood in the well of the House as her close friend, Rep. Debbie Wasserman Schultz, read her resignation letter. Other members of the Arizona delegation surrounded her.

SENATE

Democrats promise to push tax agenda

President Obama’s Democratic allies in the Senate promised Wednesday to press ahead this year with legislation drawn from his plans to require millionaires pay at least 30 percent in taxes and curb tax preferences for companies that ship jobs overseas.

Senate Democratic leaders promise votes soon on such tax “fairness” initiatives, which were a key theme of Mr. Obama’s State of the Union address Tuesday night. They include the so-called Buffett rule, named for a recommendation by billionaire financier Warren Buffett that he be required to pay a higher rate than his secretary. He currently benefits from a low 15 percent tax rate on investments.

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