Former Federal Reserve Chair Janet Yellen told Congress Tuesday that if confirmed as the next Treasury Secretary, she would prioritize a “big” fiscal package to bridge the U.S. economy to a post-pandemic world.

But Yellen, who needs a simple majority in the full Senate to earn confirmation, walked a fine line in promising COVID-19 relief while also paying mind to the national debt.

“Neither the President-elect, nor I, propose this relief package without an appreciation for the country’s debt burden,” Yellen told the Senate Finance Committee in her nomination hearing Tuesday. “But right now, with interest rates at historic lows, the smartest thing we can do is act big.”

Acting “big” would imply the $1.9 trillion relief package floated by the incoming Biden administration last week, which would include additional $1,400 stimulus checks and an extra $400 per week unemployment insurance benefit.

As Treasury Secretary, Yellen would also have her hands full with a number of other issues, ranging from handling China to steering the Biden administration’s tax policy.

Here’s what the former Fed chair told the Senate in her nomination hearing on Tuesday. Incoming Senate Finance Committee Chairman Ron Wyden (D-Ore.) said a full confirmation vote on the floor of the Senate could happen as early as Thursday.

Tax policy

“It’s very important that corporations and wealthy individuals pay their fair share,” Yellen said.

The Biden administration’s framework for tax policy includes a steeper tax on those making more than $400,000 a year with a hike on the corporate tax rate to 28% (compared to the 2017 Trump tax cuts that lowered the rate from 35% to 21%).

Yellen said she would like to work with other nations on a globally coordinated approach to corporate taxes, adding that she does not want to harm the competitiveness of American businesses.

But she emphasized that her top priority is a tax base that supports investment in “things that will create good jobs,” such as infrastructure, manufacturing, and research and development.

“We need to think about taxes in the context of the package that aims to do those things. And to the extent that financing is required for these very valuable investments, I believe it should come in a fair way.”

National debt

“The most important thing that we can do today to put us on a path of fiscal sustainability is to defeat the pandemic, to provide relief to American people, and then to make long-term investments that will help the economy grow.”

Yellen said the national debt is a "cause for concern,” but warned that failing to aggressively offer fiscal support would leave the post-pandemic economy with the scars of business bankruptcies and an inability to get people back to work.