Yellen says tax hike would pay for part of Biden infrastructure bill

FILE PHOTO: Janet Yellen speaks as Biden announces nominees and appointees to serve on his economic policy team at his transition headquarters in Wilmington, Delaware, U.S., December 1, 2020. REUTERS/Leah Millis

WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen on Thursday said a tax hike would be needed to pay for part of a big infrastructure modernization 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.

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