Dow Jones reports that Philip D. Morrison, President Bush’s choice to be Assistant Secretary of the Treasury for Tax Policy to succeed Pamela F. Olson, is withdrawing his name from consideration:

In May, President Bush announced his intention to nominate Morrison (of Deloitte Tax).  The job was vacated in December 2004 by the resignation of Greg Jenner, Acting Assistant Secretary of the treasury for Tax Policy. The Senate, however, never scheduled a hearing to consider Morrison’s nomination.  Morrison is the second person this year to withdraw his nomination for a top Treasury job. In March, Mark Weinberger of Ernst & Young dropped his bid to be Deputy Secretary of the Treasury.