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  • Janet Yellen became the first female U.

  • S Treasury secretary.

  • On Monday, the Senate overwhelmingly voted to confirm her role, 84 to 15, with all opposition coming from Republicans.

  • It puts her on track toe work with Congress on plans for economic relief, as well as President Joe Biden's pledges to invest $2 trillion in infrastructure, green energy projects, education and research.

  • Several Republicans have balked at the $1.9 trillion price tag and the prospect of increased debt after running up deficits during Trump's term.

  • With the 2017 tax cuts and nearly $5 trillion in relief spending, the Treasury will oversee Biden's plans to finance his initiatives by raising the corporate tax rate up to 28% and increasing taxes on those making over $400,000 a year.

  • Yellen told senators at her confirmation hearing last week that they needed to raise the minimum wage and act big on stimulus measures or risk a longer, more painful recession.

  • Yellen also said that she would conduct an immediate review of U.

  • S sanctions policy to ensure that they were used strategically and appropriately after they were ramped up under Trump.

  • The Treasury announced more members of Yellen's team on Monday, bringing back some Obama administration veterans.

  • Yellen's confirmation is quick by recent standards, coming less than a week after Biden took office, her Republican predecessor, Steven Mnuchin, was not confirmed until three weeks after Trump's 2017 inauguration.

Janet Yellen became the first female U.

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Yellen becomes first female U.S. Treasury chief

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    林宜悉 posted on 2021/01/26
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