Deputy Secretary of the Treasury Wally Adeyemo addressed attendees at the Wisconsin Building Trades Conference in Milwaukee, reflecting on the impact of recent legislative measures and the administration's commitment to economic recovery and growth. Adeyemo highlighted the challenges faced during the COVID-19 pandemic, noting that unemployment rates soared to nearly 15 percent nationwide, with even higher figures in Milwaukee.
"When President Biden and Vice President Harris were elected, they were committed to not only ending the pandemic but building an economy that works for working families—an economy where wages are higher, housing costs are lower, and child care is more affordable," said Adeyemo.
The Deputy Secretary emphasized partnerships with unions as a key component of their strategy. "Now no one knows more about how to build things than the Building Trades," he stated. He praised recent legislative achievements, including the CHIPS & Science Act, which has led to $400 billion in investments and over 115,000 new jobs.
Adeyemo also discussed the Bipartisan Infrastructure Law's contributions: funding for over 56,000 projects nationwide and significant allocations for Wisconsin infrastructure improvements. These include replacing toxic lead pipes and enhancing Milwaukee’s Mitchell Airport.
The Inflation Reduction Act was another focal point of his remarks. The act has prompted $380 billion in clean energy project investments across diverse communities. The administration is ensuring these projects adhere to federal prevailing wage and apprenticeship requirements.
"We were able to pass these laws because of the leadership of President Biden and Vice President Harris," Adeyemo concluded. "America is building again—building with American union labor because that’s the way you build things to last."
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