Listen Live


Treasury Secretary Janet Yellen on Wednesday appeared to walk back Biden’s comments that taxpayers would cover the cost of the Francis Scott Key Bridge collapse in Baltimore.

Just hours after the collapse of the bridge, Joe Biden told reporters the federal government would pay for the “entire cost” of rebuilding the bridge.

He also said that while the effort will take some time, the people of Baltimore “can count on us.”

US national debt skyrocketed to $35 billion, with fears some of the burden for paying to rebuild the bridge could fall on taxpayers.

The day after Biden made these comments, Yellen said that her “expectation would be that ultimately there will be insurance payments, in part, to cover this. But we don’t want to allow worrying about where the financing will come from to hold up reconstruction.”

The collapse of the Francis Scott Key Bridge, which occurred in the Baltimore harbor early Tuesday morning, resulted in significant damage and casualties. At least eight construction workers plunged into the Patapsco River below as a result of the collision.

The collapse was caused by a Singapore-flagged container ship colliding into the bridge.