(CNN) -- Peter Orszag has told President Barack Obama that he plans to leave his position as White House budget director in July, an Obama administration official told CNN Monday evening.
Orszag, 41, has been a key part of Obama's economic team, serving in his role as director of the Office of Management and Budget during the passage of the economic stimulus bill and this year's health care reform legislation.
As budget director, he crafted policy, but also was a prime negotiator with congressional Republicans.
As one of the main negotiators in the final hours before lawmakers passed the economic stimulus package, Orszag tried to bridge differences and was keeper of the ever-changing numbers, often crunching them in his head.
Orszag headed the Congressional Budget Office for almost two years before Obama tapped him to be the White House budget director shortly after the 2008 presidential election.
The new role thrust into Orszag -- a man accustomed to working behind-the-scenes analyzing economic data -- into the public spotlight.
He also worked at the Clinton White House as special assistant to the president at the National Economic Council and served on the Council of Economic Advisors.
Orszag is known in the halls of Congress for wearing cowboy boots with his business suit and has quoted country music songs during budget hearings.
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||3.85%||3.87%|
|15 yr fixed||3.05%||3.05%|
|30 yr refi||3.85%||3.87%|
|15 yr refi||3.07%||3.06%|
Today's featured rates:
Wells Fargo's board of directors is under fire ahead of Tuesday's annual shareholder meeting amid criticism the board failed to do enough to prevent the fake account scandal. More
Forget nursing. Dental hygienists earn more money, face less stress and have better work-life balance. CNNMoney profiles this new middle class job that's booming. More
In 1998, Ntsiki Biyela won a scholarship to study wine making. Now she's about to launch her own brand. More
You might be surprised at how much of a difference a small increase can make. More