Treasury Secretary Yellen to highlight small business initiatives in Detroit visit

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Washington — Treasury Secretary Janet Yellen will visit Detroit on Wednesday to highlight the Biden administration’s efforts to support small businesses in Michigan and across the country.

Yellen, who frequently travels to promote the Biden administration’s economic agenda, will visit at a tenuous moment for the president.

A recent campaign stop by the president in Warren gave a split-screen view of Biden’s support and opposition in Michigan. He spoke Feb. 1 at a United Auto Workers hall a week after the union endorsed him in the 2024 election. Meanwhile, protesters calling for restricted military to Israel and a ceasefire in Gaza held a demonstration outside.

More: Biden’s campaign visit Biden tells UAW members in Michigan: ‘The whole country owes you’

Yellen will attend several events where she will tout three signature pieces of legislation — the Inflation Reduction Act, Bipartisan Infrastructure Law, and CHIPS and Science Act — passed under the Biden administration.

Michigan Gov. Gretchen Whitmer will join Yellen at her first stop, an early afternoon discussion at the Detriot Economic Club.

Later, Yellen will visit Michigan Central, an economic development campus anchored by Detroit’s renovated former passenger rail station. There, she will tour Newlab, a startup business incubator focused on transportation and mobility.

After the tour, Yellen will participate in a roundtable with U.S. Sen. Debbie Stabenow and local entrepreneurs and business leaders.

Yellen’s visit will conclude with remarks about the Biden administration’s efforts to promote small business growth and celebrate what it calls “the small business boom” in the U.S. economy. Sen. Stabenow will also deliver remarks.

“16 million new business applications were filed in the first three years of the Administration, with more applications filed in each of these years than in any other year on record,” a spokesperson for Yellen said ahead of the visit, citing a statistic recently released by the White House.

Yellen recently made similar visits to Illinois and Wisconsin. She last visited Michigan in September 2022, when she delivered remarks at Ford’s Rouge Electric Vehicle Center in Dearborn.

Look back: Yellen visits Ford facility Treasury Secretary Yellen touts Biden’s economic agenda in Ford plant visit

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