WASHINGTON — The economy is healing but there are still many challenges ahead, Treasury Secretary Timothy Geithner said Monday in remarks prepared for a public policy conference hosted by the Congressional Hispanic Institute.
Geithner said the economic recovery is “going to take more time than any of us would like.”
He said policymakers in Washington still need to do more, reiterating that the first order of business should be passing the small-business jobs bill, which would cut taxes for small businesses and make loans more available.
Geithner called on Congress — back in session Monday — to quickly extend middle-class tax cuts. But he said the U.S. can no longer afford the George W. Bush-era tax cuts for the wealthiest Americans, which have had little impact on job creation.
“We can’t afford to go back to the policies of the past decade when we passed large tax cuts for the wealthiest American’s without paying for them,” Geithner said.
— Market News International
