Yellen: 'Safest' thing to do is make sure infrastructure plan is paid for

Yellen: 'Safest' thing to do is make sure infrastructure plan is paid for
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Treasury Secretary Janet YellenJanet Louise YellenJudge rejects GOP effort to block tax provision in Biden stimulus bill Growing inflation is Biden's hidden tax on working Americans The Biden administration's domestic approach to foreign policy MORE during an interview Sunday said it would be "safest" to include the means for President Biden's infrastructure plan to fund itself while declining to answer whether President BidenJoe BidenBiden says Beau's assessment of first 100 days would be 'Be who you are' Biden: McCarthy's support of Cheney ouster is 'above my pay grade' Conservative group sues over prioritization of women, minorities for restaurant aid MORE would sign the plan without it.

Yellen told "Meet the Press" host Chuck ToddCharles (Chuck) David ToddGOP divided over expected Cheney ouster Sunday shows - White House COVID-19 response coordinator says US is 'turning the corner' Hogan: GOP devolving into 'circular firing squad' with Cheney ouster MORE on NBC that she and the president believe "permanent" spending increases should be accompanied by revenue increases that fully meet their financial costs.

"Well, I'm not going to speak for what the president will do in a negotiation, but he has made clear that he believes permanent increases in spending should be paid for, and I agree," Yellen said.

"Over the long run, deficits needs to be contained," Yellen continued, adding: "I believe we should pay for these historic investments."

"I think it's true that a stronger economy will generate more tax revenues, but I think the safest thing is to pay for them, and we're doing it in a way that's fair."

Her comments come amid a debate among Democrats over how the Biden administration should pay for the $2 trillion infrastructure plan proposed by the White House. Currently, the plan calls for raising the corporate tax rate to 28 percent and raising some taxes on Americans making above $400,000 a year.

Some Republicans and centrist Democrats including Sen. Joe ManchinJoe ManchinIs the Constitution in the way of DC statehood? Biden 'encouraged' by meeting with congressional leaders on infrastructure Joe Manchin is wrong — D.C. statehood is constitutional MORE (D-W.Va.) have signaled opposition to raising the corporate tax rate, raising the possibility that the bill will not have enough votes to pass the evenly divided Senate should an agreement on funding it not be struck.

Democrats have expressed hopefulness that a compromise with Republicans can be found while maintaining that the legislation could be passed through budget reconciliation measures, which would require 51 votes and allow Democrats to ignore unified GOP opposition should they suffer no defections in their own caucus.