Agency ended fiscal 2010 $8.5 billion in the red, despite deep reductions in personnel and hours.
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Jacob Lew remains in limbo as the Obama administration gets to work on the fiscal 2012 budget.
Towns moves to keep the position, vowing he will “form a bulwark against any politically motivated investigations” by Republicans.
Aides call the GOP vote on the ban next week a toss-up.
Unit is expected to save $2.3 billion over five years by buying common goods and services in bulk.
Rep. Eric Cantor, R-Va., says move could save $35 billion.
Observers are skeptical the panel will be able to reach a consensus, because 14 of the 18 members need to support any recommendations.
Federal workers and contractors would take a hit under draft plan.
The midterms were partly a referendum on the party in power, partly a plunge after Democrats’ back-to-back surges in 2006 and 2008, and partly a search for political balance.
Concerns about job cuts and retiree benefits remain as leaders vow reforms.