Janet Yellen: “I am personally concerned about the U.S. debt situation.”

the Biden Administration has generally taken the view that it is up to Congress to decide what to do about that.

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.

There will be a negotiation over what to do when these tax cuts expire.

President Biden has said he would oppose allowing tax cuts to expire for people making under $400,000.