Economics
Yellen Gets Cool Reception From Business on Infrastructure Plea
- U.S. Chamber says proposed tax hikes would hurt firms, workers
- Treasury secretary asked for companies to support Biden’s plan
Janet Yellen
Photographer: Tasos Katopodis/UPI/Bloomberg
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Business groups were unmoved by Treasury Secretary Janet Yellen’s call Tuesday for U.S. companies to accept higher taxes in return for a huge public investment in infrastructure aimed at boosting the American economy.
“The data and the evidence are clear: The proposed tax increases would greatly disadvantage U.S. businesses and harm American workers,” Suzanne Clark, president of the U.S. Chamber of Commerce, said following Yellen’s speech to the group Tuesday morning. “And now is certainly not the time to erect new barriers to economic recovery.”