In a letter to lawmakers this morning, Treasury Secretary Janet Yellen warned that the United States has just three weeks before it defaults on its debts. “We now estimate that Treasury is likely to exhaust its extraordinary measures if Congress has not acted to raise or suspend the debt limit by October 18. At that…
Treasury Secretary defended President Joe Biden‘s spending plans on infrastructure, education, and jobs, saying that the plans are necessary in order to keep the United States competitive and will yield “big returns.” “The plans are extremely important and necessary to invest in our economy so that we can be competitive and have families and children…
Treasury Secretary Janet Yellen will make the case for a global minimum tax rate to raise revenue in the United States as well as stop companies from shifting their profits overseas, a move that enables them to evade paying taxes. “Competitiveness is about more than how U.S.-headquartered companies fare against other companies in global merger…
A group of Republican attorneys general has threatened legal action against President Joe Biden’s administration over the American Rescue Plan, a historic $1.9 trillion stimulus package that was last week signed into law to address the economic impact of the Covid-19 pandemic. They argue the stimulus package is unconstitutional and example of government overreach. They…
Speaking at a virtual event hosted by The New York Times, Treasury Secretary Janet Yellen said a proposal to send $1,400 direct payments to Americans will help those who are struggling, particularly those who are not receiving other targeted forms of assistance. That really helps to make sure that pockets of misery that we know…
Janet Yellen’s nomination as Treasury Secretary was cleared by the Senate Finance Committee. The full Senate will likely approve her nomination today, making her the first woman in American history to hold the position. Yellen was previously the first woman to serve as chair of the Federal Reserve from 2014 to 2018. “The Finance Committee approved…
President Donald Trump’s controversial assurance that the national economy would be up and running again by Easter has received significant criticism from both sides of the political aisle as well as from health experts who argue that loosening social distancing would result in even more deaths and greater economic turmoil. Now, 32 prominent economists, including…
Late on Thursday evening the Senate reached a deal regarding the remaining Presidential nominees waiting to be confirmed. The Senate will now confirm Alejandro Mayorkas, Brian Davis and John Koskinen on Friday and then recess for the Christmas break.
Senate Minority Whip John Cornyn (R-TX) confirmed to his fellow Senate Republicans that there will be a handful of GOP Senators that will stick around and make sure that debate continues for each and every nominee.