Treasury's Yellen: Biden programs to make 'big difference' to inequality


By:  Reuters
11:36 05/04/2021

(Reuters) - U.S. President Joe Biden's overall proposal, which include stepped up spending on infrastructure, childcare and education, will make a "big difference" to inequality, U.S. Treasury Secretary Janet Yellen said in remarks released on Tuesday.

Republicans have criticized the proposed tax increases Biden expects to use to pay for his proposals, but Yellen, in taped remarks to a virtual event put on by The Atlantic, said the effect of a change in marginal tax rates is "much less powerful in influencing growth in either direction," adding that her aim is to make sure government deficits "stay small and manageable."



(Reporting by Ann Saphir, Editing by Franklin Paul)


This article has been provided by a DearWallstreet contributor. All content submitted by this author represent their personal opinions, and should be considered as such for entertainment purpose only. All opinions expressed are those of the writer, and may not necessarily represent fact, opinions, or bias of DearWallstreet.