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Yellen says infrastructure overhaul will boost the US economy | National News



Treasury Secretary Janet Yellen will appear before the Senate Banking Housing and Cities Commission at a hearing on the CARES Act at Capitol Hill on Tuesday, September 28, 2021 in Washington.


Matt McClain


MARTIN CRUTSING ERAP Economics Writer

Washington (AP) — Treasury Secretary Janet Yellen said President Joe Biden’s spending proposal would prepare the country for long-term US infrastructure needs and future challenges.

Yellen urged Congress to support the Biden administration’s $ 3.5 trillion “Build Back Better” initiative to expand its social safety net and attack climate change in a statement preparing to appear before the National Association of Business Economists on Tuesday. rice field. She also sought support for a $ 1 trillion bipartisan bill to address more traditional infrastructure such as roads and bridges.

“Investing in the president’s agenda will be a radical overhaul of our country’s infrastructure,” Yellen said.

She cited new power grids and power structures, new passenger and freight rail systems, and repairs of roads and bridges that were “ravaged and unsafe for decades” among improvements. She also listed broadband, new schools, clean drinking water, and environmental remediation steps to help mitigate the effects of climate change.

Yellen spoke as a leader of the administration and the Democratic Party Struggling behind the scenes of Congress To round up votes on two infrastructure bills, as well as debt restrictions and an increase in temporary spending bills that must be passed by Friday to avoid government closures.

Yellen says infrastructure overhaul will boost the US economy | National News

Source link Yellen says infrastructure overhaul will boost the US economy | National News

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