Treasury Secretary Janet Yellen provided some insight into the Biden administration’s economic plans at an event hosted by the New York Times Monday.
She told viewers of the virtual conference that the Biden Administration is looking to boost the corporate tax rate to 28% (up from the Trump administration’s 21%) in an effort to additional tax revenue.
Yellen also said a greater tax on individuals and their investments was “worth considering.”
100 Year “Century” Bonds
The former Fed chair was also asked about whether the government might consider a longer term lending instrument, including a century bond. She waved off the idea however, saying that most investors consider the demand to be “very tiny” and thus, “it would probably be a very think market.”