Finance

Biden tax hikes would likely phase in slowly, Treasury Secretary Yellen says

0


Former Federal Reserve Chair, Janet L. Yellen, President- elect Joe Biden pick to be Treasury Secretary, speaks at the Queen in Wilmington, DE on December 1, 2020.

Demetrius Freeman | The Washington Post | Getty Images

Treasury Secretary Janet Yellen said Thursday that any tax increases sought by the Biden administration to help pay for big-ticket spending would be introduced gradually.

Yellen, who spoke to CNBC’s “Closing Bell,” added that the proposed tax increases would likely come later in 2021 as part of a larger legislative package.

It would “involve spending and investments over a number of years” in agenda items such as education and infrastructure, the Treasury chief said. “And…



Source cnbc.com

Elon Musk says bitcoin seems high after surpassing $1 trillion market cap

Previous article

United Boeing 777 suffers engine failure after takeoff from Denver, debris found but no injuries

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Finance