"Yellen: Rate Hikes Highlight Urgent Need for Revenue Increase"

Treasury Secretary Janet Yellen emphasized the need to boost revenue to manage US borrowing needs amid higher long-term interest rates. She highlighted the Biden administration's budget proposals aimed at maintaining a sustainable fiscal trajectory and noted the importance of tax negotiations, particularly regarding the 2017 tax cuts set to expire in 2025. Yellen also mentioned the potential implementation of a global corporate minimum tax deal as a revenue source.