Janet Yellen: “There is an important increase in the child tax credit that is going to result in, along with other provisions, a…”

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.

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.

I am optimistic, because I believe that the big inflationary impulse that we saw in 2022 largely was global.

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.