U.S. Treasury Secretary Janet Yellen is digging in to oversee billions of dollars in federal climate and infrastructure spending that she believes will transform the economy, close associates say, defying demands from Republicans to step down.
In a letter to Yellen in December, senior Republicans including Senator Jim Risch and Representative Kevin Brady said the tax would have a negative impact on U.S businesses and criticized Yellen for not responding to their concerns.
Treasury had no comment on the Republican concerns, but officials have previously said the department's policies are overdue and urgently needed. In addition to advancing Biden's domestic climate agenda, Treasury officials say another key priority for Yellen in 2023 will beand other multilateral lenders to free up more resources for countries to address climate change and other priorities.
Yellen, who has logged about 100,000 miles of air travel in the job, leaves next week for Africa, with stops planned in Senegal, Zambia and South Africa, as part of a broader U.S. push to counter China's outsized influence on the continent.with Beijing - now the world's largest creditor - for not moving forward more quickly to restructure the debt of low-income countries in Africa will be a key issue, especially in Zambia, Treasury officials say.
"Janet Yellen has restored the United States to the center of the multilateral system, in terms of global economics," said Kevin Gallagher, who heads the Global Development Center. "Will it be perfect? No, but at least the United States isn't facing 100% inward, which is the way it was a couple of years ago."
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