The $1.9 trillion stimulus package that is expected to pass this week will help the country’s labor market recover to pre-pandemic levels by 2022, or two years sooner than most experts have expected, Treasury Secretary Janet Yellen said Monday.
“This is a bill that will really provide Americans the relief they need to get to the other side of this pandemic,” Yellen told MSNBC’s Stephanie Ruhle. “We expect the resources here to really fuel a very strong economic recovery. I’m anticipating, if all goes well, that our economy will be back to full employment where we were before the pandemic next year. And the Congressional Budget Office estimated that without this, it could probably take until 2024.”
She added that the package, with its money for vaccinations, benefit checks, child tax credits, food and rental assistance, and more will “bring millions, hundreds of millions of Americans the relief they need.”
Yellen also defended the money that is going to state and local governments, a point of contention among Republicans opposing the package.
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{Matzav.com}
