Janet Yellen tells lawmakers it’s ‘critically important to act now’ on economic relief plan

Treasury nominee Janet L. Yellen argued Tuesday that it’s “critically important to act now” to pass more economic relief for the coronavirus pandemic, as she confronted scathing GOP criticism of President-elect Joe Biden’s $1.9 trillion stimulus plan.

Appearing for her confirmation hearing before the Senate Finance Committee, Yellen argued that the plan would help — not hurt — the nation’s ballooning debt. She disputed arguments from Sen. Tim Scott (R-S.C.) that the plan’s provisions to raise the minimum wage to $15 an hour would cost jobs.