WASHINGTON (Reuters) - U.S. Treasury Secretary Janet Yellen on Thursday said that tax hikes would be needed to pay for at least part of a big infrastructure, climate and education investment package that President Joe Biden plans to introduce later this year.
Yellen, in an interview with CNBC, said details were still being worked out on the infrastructure and clean energy package, which would come on top of a $1.9 trillion coronavirus relief plan that is now working its way through Congress.
Does this mean the tax hikes needed to bail the public sector are second priority? Did Yellen warn he Californians before speaking? Maybe Yellen is expecting the Fed to increase taxes?
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