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Treasury Secretary Yellen Visits Detroit with Focus on Supporting Small Businesses


Feb 12, 2024

Treasury Secretary Janet Yellen will visit Detroit on Wednesday to highlight the Biden administration’s efforts to support small businesses not only in Michigan, but across the country. This comes as 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. Protesters were also present to advocate for reducing military aid to Israel and a ceasefire in Gaza. Yellen will promote three pieces of legislation passed under the Biden administration during her visit – the Inflation Reduction Act, Bipartisan Infrastructure Law, and CHIPS and Science Act. Michigan Gov. Gretchen Whitmer will join her 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. Her visit will conclude with remarks about the Biden administration’s efforts to promote small business growth. A spokesperson for Yellen shared that 16 million new business applications have been filed in the first three years of the Administration, outpacing any other year on record. 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.

By Editor

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