March 5 (Bloomberg) — Treasury Secretary Jacob J. Lew called for measures to ensure prosperity is shared more evenly as the U.S. economy accelerates this year and the job market strengthens.
The economic expansion since the 2007-09 recession helped the U.S. narrow its fiscal deficit and reduce unemployment to the lowest level since October 2008, Lew said in written testimony to the Senate Finance Committee today.
Echoing requests announced yesterday in the Obama administration's 2015 budget proposal, he urged Congress to increase support for the unemployed, infrastructure such as roads and bridges, and simplifying the tax code.
"Our recovery from the worst economic recession since the Great Depression continues to strengthen," Lew said. "But more needs to be done to accelerate growth and ensure the benefits of economic growth are not overly concentrated."
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