WASHINGTON - Paul O'Neill was sworn in Tuesday as Treasury secretary and said he is looking forward to helping President Bush advance his tax-cut package.

In addition, Mr. O'Neill said he is eager to work on issues such as Social Security reform.

President Bush stressed Mr. O'Neill's business background in his remarks at the ceremony, which was held in the Oval Office. "I value Paul's vast experience in the world economy," the President said. "I value his background in employing American workers."

Mr. O'Neill, 65, is a former chairman of Aluminum Company of America and previously headed International Paper Co. for two years. He also was deputy director of the Office of Management and Budget in the Ford administration.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.