US Treasury Secretary Janet Yellen is set to visit Boston on Wednesday for another tour aimed at advocating the economic advantages of the Biden Administration’s clean energy tax credits, just ahead of the commencement of the 2024 presidential nominating contests.
During her visit, Yellen will deliver remarks at Roxbury Community College’s Center for Smart Building Technology, where she will observe various energy efficiency enhancements projected to yield savings of up to $800,000 on the school’s energy bills, as stated by the Treasury.
In this visit, she will be accompanied by Massachusetts Governor Maura Healey and Boston Mayor Michelle Wu.
This trip follows Yellen’s November 30 visit to North Carolina, where she toured a lithium processing plant benefiting from tax subsidies authorized in the 2022 Inflation Reduction Act.
President Joe Biden has faced challenges in gaining voter confidence in his economic management, particularly with the persistent high inflation over the past two years, although there has been recent relief.
Yellen mentioned on Friday that if inflation continues to decelerate and wages experience sustained growth, Americans will “feel good about their future prospects.”
In her Boston remarks, Yellen “will discuss the Biden Administration’s efforts to lower energy bills and costs for families through the Inflation Reduction Act and prepare the clean energy workforce for good-paying jobs that don’t require a college degree in growing fields like home electrification and energy efficiency,” the Treasury said.
During the visit, she will emphasize Roxbury Community College’s initiatives in residential and commercial building efficiency, as well as building optimization and automation, according to the statement.
Numerous energy upgrades of this nature qualify for tax credits under the Inflation Reduction Act, a climate-focused legislation that faced staunch opposition from Republicans in Congress but was nonetheless passed.