Home Business news Yellen seeks to tamp down concern over US government spending under Biden

Yellen seeks to tamp down concern over US government spending under Biden

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  • Treasury secretary backs tax rises on rich to pay for big plans
  • Republicans push back against expansive infrastructure aims

The US treasury secretary, Janet Yellen, on Sunday sought to tamp down concerns that Joe Biden’s plans on infrastructure, jobs and families will cause inflation, saying spending will be phased in over a decade.

Related: The first 100 days of Biden were also the first 100 without Trump – that’s telling | Robert Reich

The president has pledged that no family earning under $400,000 will pay a penny more in taxes

Continue reading…Treasury secretary backs tax rises on rich to pay for big plansRepublicans push back against expansive infrastructure aimsThe US treasury secretary, Janet Yellen, on Sunday sought to tamp down concerns that Joe Biden’s plans on infrastructure, jobs and families will cause inflation, saying spending will be phased in over a decade. Related: The first 100 days of Biden were also the first 100 without Trump – that’s telling | Robert Reich The president has pledged that no family earning under $400,000 will pay a penny more in taxes Continue reading…