WASHINGTON — Treasury Secretary Janet Yellen says the country is still in a "deep hole" with millions of lost jobs but that President Joe Biden’s $1.9 trillion relief plan could generate enough growth to restore full employment by next year.
Republican senators argues that Biden's proposal is too expensive.
Meanwhile, House Democrats plan to propose boosting the child tax credit, now at a maximum of $2,000, to as much as $3,600 per child annually. That's according to information obtained The Associated Press.
The proposal will be part of the COVID-19 relief bill they are writing that is expected to largely follow Biden’s plan.