Washington, DC – Business Roundtable today praised the nomination of Henry Paulson, Chief Executive Officer of Goldman Sachs, as the new Treasury Secretary while also commending the work of outgoing Treasury Secretary John W. Snow to strengthen the U.S. economy.
 
“We congratulate President Bush on his nomination of Hank Paulson as the new Secretary of the Treasury,” said Hank McKinnell, Chairman of Business Roundtable and Chairman and CEO of Pfizer Inc. “Hank Paulson’s first-hand experience in running a business and his understanding of financial markets give him the right credentials for helping to shape fiscal policy with finance ministers from around the world.”
 
“Paulson takes the helm at Treasury during a time when the economy is vibrant, with first quarter GDP at a bullish 5.3% and job creation averaging 173,000 new jobs per month this year,” added McKinnell. “It’s important that we continue to pursue policies that will help maintain this growth.”
 
Roundtable President John J. Castellani praised the accomplishments of Snow, who previously served as Chairman, President & CEO of CSX Corporation and had been a past Chairman of the Business Roundtable.
 
“The U.S. economy under John Snow would be the envy of any administration, with strong growth and low unemployment,” Castellani said. “John knew his way around the corridors of Washington as well as the boardrooms of major corporations. His understanding of the intersection of business and policy has served our economy well. He was a team player in setting U.S. economy policy and a tireless advocate of initiatives to keep the economy strong and to improve U.S. competitiveness in the global economy.”
 
The Roundtable urged the Senate to schedule hearings quickly in order to move Paulson’s nomination to confirmation and to ensure continuity of leadership in the Treasury Department as Congress moves forward on important economic issues.