Categories: U.S. Treasury

Statement by Secretary of the Treasury Janet L. Yellen on the Deficit Impacts of the Build Back Better Legislation

WASHINGTON – Secretary of the Treasury Janet L. Yellen released a statement today on the deficit reduction achieved by the Build Back Better legislation.

“The Build Back Better legislation presents a historic opportunity to make investments that will cut costs for families, create good jobs, and increase economic growth for the long term. The investments and revenue provisions of the Build Back Better package would raise over $2 trillion in offsets, making the entire package paid for over ten years and would reduce deficits over the long term. By making our tax system more fair and asking the highest-income earners and big corporations to pay what they owe, Congress has put together a package that is fiscally responsible and critical to the future prosperity of our economy.”
 

IR Press

Share
Published by
IR Press

Recent Posts

Treasury Sanctions Gazprombank and Takes Additional Steps to Curtail Russia’s Use of the International Financial System

Treasury imposes sanctions on dozens of Russian banks, securities registrars, and finance officials; OFAC issues…

15 hours ago

Acting Comptroller Testifies on State of the Federal Banking System

WASHINGTON—Acting Comptroller Michael J. Hsu today testified on the state of the federal banking system…

24 hours ago

Remarks by Assistant Secretary for International Finance Brent Neiman on the U.S. Cross-Border Payments Agenda

As Prepared for Delivery Thank you very much for the opportunity to be here today, and…

3 days ago

Remarks by Assistant Secretary for Investment Security Paul Rosen at the Third Annual CFIUS Conference

As Prepared for Delivery Good afternoon.  I’d like to start by thanking our panelists today for…

3 days ago

U.S. Department of the Treasury Releases Final Rules to Expand Access to Clean Energy Tax Credits

Final rules will improve access to direct pay for co-owned clean energy projects, helping to…

3 days ago