Janet Yellen: “My own preference would be to be able to proceed to tighten in a prudent and gradual manner...”

The tax cuts passed by Donald Trump and Congressional Republicans... was responsible for many of the problems that we face now with our fiscal trajectory.

He will oppose any tax increases on families earning under $400,000 at the same time that he will oppose keeping in place benefits that went to the wealthy.

The most recent and optimistic estimate I’ve seen suggested that the average household will see on the order of $1,000 reduction in income.

We certainly have proposed extending the Child Tax Credit, which was immensely helpful, and we are supportive of the legislation that has gone through the House.