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U.S. Treasury Secretary Yellen highlights President Biden's focus on affordability, understanding of American households' struggles with higher costs for housing and basic necessities. Biden aims to cut taxes for hardworking families through expanding the child tax credit and protecting tax benefits for families earning $400,000 or less. Yellen emphasizes the need for the U.S. to contain deficits and mentions Biden's budget proposals in that regard. White House economic advisor Brainard expresses concern over the lack of progress on housing and healthcare prices.
YELLEN: IT'S NECESSARY FOR U.S. TO CONTAIN DEFICITS, BIDEN'S BUDGET IS FULL OF PROPOSALS TO DO EXACTLY THAT
YELLEN: BIDEN WOULD PROTECT TAX BENEFITS RECEIVED BY FAMILIES MAKING $400,000 OR LESS YELLEN: BIDEN HAS RECOGNIZED THAT MANY AMERICAN HOUSEHOLDS ARE STRUGGLING TO COVER NECESSARY COSTS
⚠️YELLEN: **IT'S NECESSARY FOR U.S. TO CONTAIN DEFICITS, BIDEN'S BUDGET IS FULL OF PROPOSALS TO DO EXACTLY THAT **BIDEN WOULD PROTECT TAX BENEFITS RECEIVED BY FAMILIES MAKING $400,000 OR LESS **BIDEN HAS RECOGNIZED THAT MANY AMERICAN HOUSEHOLDS ARE STRUGGLING TO COVER…