Yellen, Raimondo to rally business community support for Biden’s $3.5T budget deal

Treasury Secretary Janet Yellen and Commerce Secretary Gina Raimondo are delivering a pair of speeches Tuesday lobbying the business community to back the entirety of President Biden’s Build Back Better agenda, Axios has learned.

Why it matters: While business groups have endorsed the $1.2 trillion bipartisan infrastructure package, they’re opposed to the concurrent $3.5 trillion budget reconciliation package — which would raise taxes on corporations.

  • In choreographing speeches from Yellen and Raimondo, the administration is going on the offensive to convince the public their overall agenda will lead to productivity gains and help grow the economy for all Americans.
  • The $1.2 trillion bill would invest in “hard” infrastructure like roads and bridges. The $3.5 trillion package would spend on so-called “human” infrastructure, including day care, universal preschool and caregivers.
  • “The bipartisan infrastructure bill and Build Back Better are two…

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