FILE PHOTO: Treasury Secretary Janet Yellen pauses while testifying before a Senate Banking Committee hybrid hearing on oversight of the Treasury Department and the Federal Reserve on Capitol Hill in Washington, U.S., November 30, 2021. REUTERS/Elizabeth Frantz
January 21, 2022
WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said two years of universal early childhood education and an expanded income tax credit were critical components of the $1.7 trillion Build Back Better plan that is still being negotiated with Congress.
U.S. President Joe Biden this week said he needs to break up the signature legislation, passing a large chunk now and other measures later in the year, after running into opposition from fellow Democrats, Senators Joe Manchin and Kyrsten Sinema.
Yellen said final details were still being worked out with lawmakers, but singled out as “core” Biden’s proposals to provide two years of universal pre-kindergarten, expanded elder care, cap childcare expenditures for most families at 7% of their income, and an expanded Earned Income Tax Credit.
(Reporting by Andrea Shalal)
Source: One America News Network
