Jack Lew has been confirmed as the next US treasury secretary in a 71-26 vote of the Senate, BBC reports. Mr Lew, 57, was recently chief of staff to President Barack Obama, who nominated him to the new role. Mr Lew takes up his post amid tense negotiations between the White House and congressional Republicans. They are fighting over a looming series of spending cuts know as the sequester, which would cut $85bn from the federal budget this year.
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