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Senate committees to hold hearing on Budget Office director

By the CNN Wire Staff
  • Lew held the same position in the Clinton administration
  • If confirmed, he will replace Peter Orszag

Washington (CNN) -- Two Senate committees hold hearings Thursday on the nomination of Jacob J. Lew as director of the Office of Management and Budget.

If confirmed, Lew would succeed Peter Orszag as head of the White House budget team.

Lew held the same position in the administration of former President Bill Clinton from 1998 to 2001. Most recently, he has been the deputy secretary of state for management and resources in the Obama administration.

"The experience and good judgment Jack has acquired throughout his impressive career in the public and private sector will be an extraordinary asset to this administration's efforts to cut down the deficit and put our nation back on a fiscally responsible path," Obama said in a statement in July. "As the budget director who left the next administration a $237 billion surplus when he worked for President Clinton, I have no doubt that Jack has proven himself equal to this extraordinary task."

The Senate Budget Committee will hold its hearing at 9 a.m.; the Senate Homeland Security and Governmental Affairs Committee's hearing is at 3 p.m.