The Secretary of the U.S. Treasury Department visited Milwaukee Friday and brought a big check or news of one, anyway.
Secretary Janet Yellen first came to the Wisconsin Regional Training Partnership/BIG STEP building at 3841 W. Wisconsin Ave. to talk with some of the young men and women learning construction skills at the job training center.
Yellen then spoke to an audience of about 150 trainees, local officials, labor union members and construction company executives. She announced $1.5 million in federal funding, "To expand and modernize this training facility."
Yellen credited Wisconsin U.S. Sen. Tammy Baldwin (D-WI) for helping secure the funds.
With President Joe Biden's reelection effort underway, Yellen also promoted Biden Administration efforts to support the middle class.
"A strong middle class is key to building a strong economy," Yellen said.
Yellen's visit comes as the Biden/Harris campaign is trying to ease public concerns about inflation. The Treasury Secretary told news reporters that consumer sentiment has risen over the last couple months.
"But, look, we know households have lived through a lot. They have suffered stresses. The level of prices of some of the things they buy—rental housing, food, electricity," Yellen said.
But she added that in the last 24 hours more data were released saying, "Inflation has really settled down."
Yellen said for many workers, wages are also higher. She said, workers and households are getting ahead, "And I have every expectation that will continue."
The Wisconsin Republican Party responded that, "Janet Yellen is the last person Wisconsinites want to hear from about the economy. Voters are fed up with Bidenomics and will send Joe and Janet packing this November."
Friday afternoon, Yellen met with members of the Metropolitan Milwaukee Association of Commerce, now led by former GOP state lawmaker Dale Kooyenga. The MMAC, like other business groups, has often raised concerns about taxes.
Yellen, in response to a question from WUWM, summed up President Biden's tax plans:
"He's not going to defend any tax increase on households making under $400,000. But, he does want to ensure, in a whole variety of ways, that wealthy individuals and corporations, first of all pay the taxes that are due. And, there's a big gap there, which is why we fought to have new funds allocated to the Internal Revenue Service to collect taxes. And that's beginning to pay off. But also to see wealthy corporations and individuals pay their fair share," Yellen said.
The Treasury Department did not allow the news media to attend the business roundtable at the MMAC, except for a brief photo session.
