Treasury Secretary Janet Yellen will visit Detroit on Wednesday to highlight the Biden administration’s efforts to support small businesses across the country. Her visit comes after President Biden’s support and opposition in Michigan was highlighted during a recent campaign stop in Warren, where he spoke at a United Auto Workers hall following a union endorsement. During her visit, Yellen will promote three pieces of legislation passed under the Biden administration: the Inflation Reduction Act, Bipartisan Infrastructure Law, and CHIPS and Science Act.
Michigan Gov. Gretchen Whitmer will join Yellen for one of the first stops, an early afternoon discussion at the Detroit Economic Club. Later, Yellen will visit Michigan Central, an economic development campus in Detroit. There, she will tour Newlab, a start-up business incubator that focuses on transportation and mobility. After the tour, Yellen will participate in a roundtable discussion with U.S. Sen. Debbie Stabenow and local entrepreneurs and business leaders.
During her visit, Yellen will also speak about the Biden administration’s efforts to promote small business growth. According to a spokesperson for Yellen, 16 million new business applications have been filed in the first three years of the Administration, outpacing any other year on record. This is just one way that the Biden administration is working to support small businesses across the country and help them thrive in these challenging times.
Yellen has previously made similar visits to Illinois and Wisconsin and had previously visited Michigan in September 2022, when she delivered remarks at Ford’s Rouge Electric Vehicle Center in Dearborn.
Overall, Yellen’s visit to Detroit is an important opportunity for her to highlight the Biden administration’s efforts to support small businesses not only in Michigan but across the country