WASHINGTON – Secretary of the Treasury Janet L. Yellen issued the following statement on the U.S. House of Representatives passage of the Build Back Better Act.
“I’m very grateful to Speaker Pelosi and the House of Representatives for passing the Build Back Better Act. Today’s vote moves us closer to a stronger, more resilient economy with greater productivity and labor force participation and a lower tax burden on middle class families.
This fiscally responsible package takes aim at the challenges many middle class families face: It makes childcare affordable, freeing parents from having to choose between raising kids and working a job. It prevents children from entering the first grade at a disadvantage by providing universal pre-K. It gives seniors the affordable care and housing they need. As important, the Build Back Better Act also makes an historically large investment in combatting climate change. This bill is more than fully paid for by asking large corporations and the country’s top earners to pay their fair share and by finally ensuring high-income tax evaders pay what they owe.
I look forward to the Senate passing this once-in-a-generation package and its enactment into law.”