The Treasury Department has delayed its announcement on its plan to deal with toxic assets until Tuesday.
Lawrence Summers, director of the White House National Economic Council, said on Sunday the move was to allow the administration to focus on the stimulus package, which the Senate is taking up on Monday. Treasury Secretary Timothy Geithner was set to announce his financial rescue plan on Monday.
"There's a desire to keep the focus on the stimulus," Mr. Summers said on ABC's "This Week."
Treasury Secretary Timothy Geithner is planning to announce how the administration plans to use its half of the $700 billion bailout to deal with toxic assets.
A Treasury spokesman said administration wide officials will be working with senators throughout the day on Monday and delaying the announcement will allow that to happen.
"The economic recovery plan is critical to stemming the tide of this economic crisis," a Treasury spokesman said. "But it alone won't solve all the problems that led us here. We need to stabilize and repair our financial system to maintain the flow of credit that families and businesses depend on to keep our economy strong. The plan that Secterary Geithner lays out on Tuesday will achieve that goal."
