WASHINGTON (Reuters) - Janet Yellen, U.S. President-elect Joe Biden’s nominee for Treasury Secretary, urged lawmakers on Tuesday to “act big” on the next coronavirus relief package, adding that the benefits outweigh the costs of a higher debt burden.
Janet Yellen, President-elect Joe Biden's nominee for Secretary of the Treasury, participates remotely in a Senate Finance Committee hearing in Washington, U.S., January 19th, 2021.
Targeting relief to people in the greatest need, and to small businesses, will create “a great deal of spending per dollar spent, they’ll create jobs throughout the economy,” Yellen said.
“Neither the president-elect, nor I, propose this relief package without an appreciation for the country’s debt burden.
A spokeswoman for departing Treasury Secretary Steven Mnuchin, who steps down on Wednesday, could not immediately be reached for comment.
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