Treasury Secretary Janet Yellen is slated to testify before the House Thursday afternoon regarding the economic outlook of the United States.
Earlier Thursday, Yellen made the case for President Biden’s 2025 budget proposal, which includes tax hikes for the wealthiest Americans and an expanded child tax credit.
During a Senate Finance Committee hearing on the president’s budget proposal, Yellen also said the Biden administration will “continue to oppose misguided proposals that will grow the deficit by offering large tax breaks to the wealthy and big corporations,” setting the stage for a partisan tax policy fight that’s set to play a major role in the upcoming 2024 election.
Shalanda Young, director of the Office of Management and Budget, will also testify.
The hearing is scheduled for 2:30 p.m. EDT.
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