74-year-old Janet Yellen became the first female U.S Treasury Chief on Monday, creating history as she steps into her role of Biden’s covid-19 strategy and regulating America’s financial health.
The votes were 84-15 with Republicans opposing the vote most of whom have disagreements in the $1.9 trillion covid plan and various other initiatives of the President.
First Female Treasury Chief: America Rejoices Women Power
Democratic Senator Dianne Feinstein stated upon this victory that it was finally refreshing to see a woman in a male-dominated field and how historic it is to have a woman lead the treasury department.
Yellen previously made history by becoming the first woman to be the 15th Chair of the Federal Reserve.
White House refused to comment on when she would be sworn in.
She won 34 Republican votes in a strong bipartisan with most of them wanting to work with her.
Yellen is said to play a key role in Biden’s coronavirus strategy which requires her to work with the Congress. She will also be involved in the government’s various energy projects and infrastructure developments.
Chief Economist for Stifel Lindsey M Piegza stated that Yellen will be responsible for the country’s tax matters as well as international sanctions.
Piegza also added how Yellen would be the backbone of complete economic management recovery.
Various other activists and important leaders commented on Yellen’s remarkability and that she would bring America’s economic health back on track.
But her effectiveness is only going to be tested. With the surging pandemic, unemployment and poverty, vaccine shortage, and new incoming coronavirus variants, Yellen has a lot to unpack.
Congress had recently passed a $900 billion relief package to help provide the unemployed and an additional $600 for vaccine distribution.
Apart from the $1.9 billion covid plan, Biden has also set to provide an additional $1.9 trillion dollar for assisting the unemployed along with a personal check of $1400 to most individuals for rentals and other bills.
Yellen will sponsor Biden’s plan and help upgrade the country’s infrastructure. Together, they would be formulating the development of a better environment, cleaner cities, and tuition-free community college.
Biden will also be raising the corporation taxes and individuals with income of more than $400,000.
She will also be the President’s budget spokesperson.
Upon the confirmation of her role, Yellen stated that she will be reviewing the Treasury’s U.S financial sanctions policy to check on their status after the Trump administration.
After she took over her position, the Treasury also declared her team members most of which had veterans from the Obama administration.
The quick decision of Yellen being appointed as the treasury chief within a week of the Biden government is notable as, during the Trump administration, the then treasury chief Steven Mnuchin was sworn in only 3 weeks later.
With more and more women into important powers, the Biden administration is surely giving new light to America.