White House economic adviser Larry Kudlow on Monday praised President-elect Joe Biden’s choice of former Federal Reserve Chairwoman Janet Yellen for Treasury secretary.
“The Janet Yellen pick at the Treasury was a good idea,” Kudlow told the Washington Post.
Kudlow was quick to note, though, that he and the White House have not acknowledged Biden as the victor of the election. President Trump has been pursued litigation over the election, alleging fraud.
Kudlow, the director of the National Economic Council, said that Yellen would be a good pick because of her experience at the Fed. He also believes that she has sensible views, which would include not increasing taxes while the economy suffers through the pandemic.
“I think Ms. Yellen will be an adviser who says 2021 is not the time to raise taxes. I don’t think she will recommend tax hikes, and I think that is a very good thing,” said Kudlow, a longtime proponent of low taxes.
Wealthy individuals and corporations would bear the brunt of tax increases proposed by Biden.
The former vice president’s plan would increase taxes by $2.4 trillion over the next 10 years, according to an analysis by the Tax Policy Center, a nonpartisan think tank.
