Yellen: Taxes need to be increased for high-income earners

US Treasury Secretary Janet Yellen made evaluations on the economic agenda during her visit to Detroit.

Stating that US President Joe Biden’s economic plan worked, Yellen said that the US is experiencing one of the fastest economic recovery in modern history.

However, pointing out that Americans are worried that high prices will shrink their daily budgets and long-term savings, Yellen said that the causes of inflation are largely global. Yellen reiterated that the administration’s top economic priority is the fight against inflation.

Emphasizing that the most urgent challenge is to return to a stable price environment without compromising the economic gains of the last 2 years, Yellen said, “We must keep our public finances on solid foundations to ensure our long-term economic stability.” said.

Yellen stated that they will increase the momentum of corporate tax reforms under the Inflation Reduction Act to advocate for additional reforms in the tax code and the global tax system. By ensuring that it pays its fair share, it will give our government additional financial space to make critical investments.”

Source: Dünya Gazetesi by

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