* * *
Video of the remarks can be found here (https://www.banking.senate.gov/download/senator-brown-yellen-floor-speech).
Brown's remarks on the Senate Floor, as prepared for delivery, are below:
A few days after our first woman vice president was sworn into office, we're about to confirm the first woman to step into one of the leading roles in our economy.
She will be the first person to ever have held all three of the top positions in our economy – Chair the
And now more than ever, we need her leadership, her vision, and her appreciation for the people who make this country work.
As Fed Chair, and as a labor economist, she made it clear that she understands what drives our economy: it's not the stock market, it's not
I remember in 2015, Chair Yellen came to
That's the kind of leadership we need, and the kind of leaders
There's a lot more to our economy than a quarterly earnings report.
And she will step into this job at a time when the contrast between the financial health of corporations and workers couldn't be starker.
We're in the middle of a public health crisis and an economic crisis.
You wouldn't know it if you only looked at the stock market or corporate profits – but under
We're going to think about the economy the way workers and their families do – in terms of paychecks, and whether they can make rent or pay the mortgage this month, or afford child care, or pay for their prescription drugs.
And by those measures, people are hurting.
We hear a lot about what some people call the “K-shaped recovery” – that's one way of saying the rich are getting richer, while the middle class and low-income families struggle.
It was already a problem before this virus, the pandemic has only made it worse, and it's layered on top of systemic racism and inequalities that have been allowed to fester for too long.
We have a tax code that favors the wealthy, and that gives corporations a tax break when they move American manufacturing jobs overseas.
Americans' hard-earned savings are at risk from the financial instability of climate change.
Risky behavior on
I have confidence that
She knows that we can build new, cleaner infrastructure that puts people to work at good-paying union jobs.
We can invest in every community in the country, including the small towns and industrial cities and Black and brown communities that too often get left behind.
We can make it easier for people to afford housing and transportation and child care.
We can create a tax code that rewards work instead of wealth – starting with a dramatic expansion of the Child Tax Credit and the Earned Income Tax Credit.
We can give people more power over their own lives and their own money, with options like monthly distribution of the CTC and no-fee bank accounts.
That's the vision
She is the right person for these tumultuous times, and she will rise to meet this moment, to help our country build back better.