The “massive overhaul” of the banking bailout will be announced a day later than expected.
Treasury Secretary Timothy Geithner was originally scheduled to give full details about the changes to the rescue plan in a speech midday Monday. But the Treasury Department said Sunday that the plan will be announced Tuesday instead, in order for Geithner to focus on the stimulus bill that is being debated in the Senate.
“With record high job losses, and weakening economic forecasts, we’re focused on working with Congress to pass an economic recovery bill so we can create the jobs and make the investments necessary to get our economy moving again,” said Treasury spokesperson Isaac Baker in a statement. “Economic officials administration wide will be working and consulting with senators throughout the day.”