Economics
Yellen Favors Higher Company Tax, Signals Capital Gains Worth a Look
- Treasury chief says she was ‘initially hesitant’ to take job
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Treasury Secretary Janet Yellen said President Joe Biden favors boosting taxes on companies, and signaled openness to considering raising rates on capital gains, while steering clear of a wealth levy.
“A wealth tax has been discussed but is not something President Biden” favors, Yellen said at a virtual conference on Monday hosted by the New York Times. She said such a tax would have significant implementation problems.