US's Geithner won't leave until 2013-White House

WASHINGTON Fri Nov 9, 2012 2:37pm EST

WASHINGTON Nov 9 (Reuters) - Treasury Secretary Timothy Geithner plans to stay until early next year to help the Obama administration forge a deal with lawmakers to avert the looming fiscal crisis, the White House said on Friday.

The Obama administration and lawmakers have less than two months to soften the blow from the "fiscal cliff" of $600 billion worth of tax hikes and spending cuts due to go into effect at the end of the year.

"Geithner has indicated that he will stay on through inauguration and he will be, obviously, a key participant in the negotiations around the so-called fiscal cliff issues," the White House spokesman told reporters in press briefing.