Senators hammer Treasury chief Yellen on possible tax increases for the middle class

President Biden is committed to not raising taxes on Americans earning less than $400,000, said Treasury's Yellen.

Republican senators grilled Treasury Secretary Janet Yellen about expiring provisions of the Trump administration's Tax Cuts and Jobs Act that could allegedly raise taxes for some Americans.Biden proposes reducing the federal deficit by $3 trillion over the next 10 years by taxing the wealthiest companies and households.

"For years, President Biden has vowed no tax increase on individuals earning less than $400,000," Sen. Steve Daines, R-MT, said during a Senate Finance Committee hearing where Yellen was testifying.

Vi har oppsummert denne nyheten slik at du kan lese den raskt. Er du interessert i nyhetene kan du lese hele teksten her. Les mer:

CNBC /  🏆 12. in US

Norge Siste Nytt, Norge Overskrifter

Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.

US Treasury Secretary Yellen says interest rates unlikely to return to pre-COVID levelsUS Treasury Secretary Janet Yellen stated that it is unlikely for interest rates in the US to go back to pre-COVID-19 levels. She also mentioned the steps taken to support the domestic electric vehicle industry and the challenges faced in containing Chinese battery content in US-produced EVs.
Les mer »

Treasury Secretary Janet Yellen Reacts to Rising InflationTreasury Secretary Janet Yellen discusses the February CPI and rising inflation, stating that the trend is favorable despite monthly fluctuations. President Biden's priority is addressing high costs.
Les mer »

US Treasury Secretary Janet Yellen walks back transitory inflation claims: 'I regret saying it'After predicting in 2021 that inflation would be 'transitory,' U.S. Treasury Secretary Janet Yellen admitted her 'regret' as 'it's lasted longer than' a few weeks or months.
Les mer »

Israeli President Benjamin Netanyahu Scrambles for Private Meetings With U.S. SenatorsThe private requests to meet with American lawmakers coincide with mounting divisions over Israel’s handling of the war in Gaza.
Les mer »

UAW President touts President Biden’ union engagement as motive to have his backThis is additional taxonomy that helps us with analytics
Les mer »

Kamala Harris to visit an abortion clinic, a first for a president or vice presidentYamiche Alcindor is an NBC News Washington correspondent.
Les mer »