Janet Yellen has won a major Senate nomination as the first woman to lead the U.S. Treasury. On Monday, he immediately called on him to work with Congress to help coronavirus, review U.S. sanction policy and tighten monetary policy.
The Senate voted 84-15 to confirm Yellen, and all opposition parties from the Republic, most of whom have expressed concern about President Joe Biden’s proposed $ 1.9 trillion coronavirus assistance, tax increase and other spending options.
Shortly after the vote, the House of Representatives accused the Senate of opposing former President Donald Trump, accusing him of inciting sedition in his speech to supporters before the January 6 attack on the U.S. Capitol. The trial in February ended a split in the room, but those were absent on Monday.
Democratic Alliance Senator Dianne Feinstein said in a statement that the Secretary Yellen’s confirmation destroys another glass roof. He also said that In the male-dominated sector, it is finally refreshing to see a woman leading the Treasury Department.
Yellen who is of 74 years old said that it made history back in the year 2014 when she became the first woman to chair the Federal Reserve. Image of economist and daughter of Brooklyn, New York, the family doctor will join those other 76 secretaries in the Treasury corridors, from the first, Alexander Hamilton.
The White House did not immediately comment on when Yellen would be sworn in, or by anyone else.
He received 34 Republican votes in a strong vote involving two parties, most of whom promised to work with him.
Republican Senator Chuck Grassley wrote on twitter said that he hopes the federal governments continue and that they can work together on a tax / monetary policy for all Americans.
German Finance Minister Olaf Scholz congratulated Yellen and expressed hope that she could help lead the way in reaching an international agreement on digital taxes. He told the Reuters that Janet Yellen is really a very impressive person.
Yellen will play a key role in working with Congress on Biden’s coronavirus stimulus plans and in its commitments to invest $ 2 trillion in infrastructure, green energy projects, education and research to boost American competitiveness.
Treasury will look at Biden’s plans to help pay for these programs by trying to persuade Congress to increase corporate tax rates to 28% from 21% and raise taxes on Americans making more than $ 400,000 a year.
Republicans have expressed concern over inflation and debt over the reimbursement of financial conservatism after finding a backlog in Trump’s 2017 tax cuts and $ 5 trillion in coronavirus spending.
Yellen told managers at her confirmation meeting last week that they needed to raise the minimum wage and “do more” with incentive measures or risk the catastrophic inflation caused by the epidemic.
Yellen also said that while listening to the assurance that she would soon review U.S. policy. Managed by the Ministry of Finance to ensure that it is used “properly” after the introduction of such measures under the Trump administration.
Yellen’s confirmation less than a week after Biden took office is accelerated by the latest standards. Steven Mnuchin who is the Republican predecessor was not confirmed till the three weeks after the inauguration of Trump in the year 2017 by a run-off vote.
The Treasury Department on Monday announced some members of Yellen’s party, bringing back some of Obama’s most senior administration staff working for the organization.
Treasurer has appointed Natalie Wyeth Earnest as adviser to the secretary of strategic communications. Earnest served as assistant public relations secretary in the Finance Department under former Secretary Jack Lew and in various communications roles under former Secretary Tim Geithner.
Mark Mazur who is the director of the Urban-Brookings Tax Policy Center and who is also a former assistant secretary of tax policy. He was appointed as the deputy secretary and secretary of tax policy at the Office of Legal Affairs.