Cryptocurrency transfers create an opportunity for tax evasion, the Treasury Department said.
The Treasury Department estimates wealthy taxpayers are hiding income outside wages and salaries.
The split showcases a deep divide over the role of government in helping the economy recover from the pandemic.
The Treasury Secretary's comments will fuel the debate over whether President Biden's spending plans could spur a surge in price pressures.
The key elements of the corporate tax plan include raising the U.S. corporate rate to 28% from 21%.
Can the U.S. spend its way out of economic inequality?
“I don’t think it’s a significant risk,” the Treasury secretary said.
Inflation before the pandemic “was too low rather than too high,” she noted.
The administration is looking to boost the corporate tax to 28%, Treasury Secretary Janet Yellen said.
The centerpiece of the plan will be possibly the biggest infrastructure-spending commitment since the New Deal.
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