GOP Presses Yellen on OECD, Rich 2025 Tax Hikes, Deficit

Lawmakers looking ahead to the 2025 tax fight have pressed Treasury Secretary Janet Yellen on how the Biden administration would preserve tax breaks for earners making less than $400,000 without ballooning the national debt and deficits.

Yellen’s appearance on Tuesday’s House Ways and Means panel coincides with efforts by GOP members to divide into teams to determine tax priorities before many of the individual provisions of the 2017 GOP tax law expire.

Questions about managing the national debt as part of the tax overhaul came from both Democrats and Republicans, who asked Yellen how the tax law should increase revenues but protect Americans…