President Biden has been heavily criticized during his tenure for allowing the budget deficit to soar and push the national debt to a record high of nearly $34.8 trillion. But his Treasury Secretary, Janet Yellen, put the blame for the nation’s fiscal issues on former president Donald Trump’s Tax Cuts and Jobs Act on Monday as politicians continue to debate extending that signature conservative legislation, which is set to expire in 2025.
“I think it's responsible for many of the problems that we face now with our fiscal trajectory,” Yellen said in an exclusive interview with Yahoo Finance, adding that it would “concern” her to leave the tax cuts in place.
