Corporate America says it is ready to work with Biden
By David Shepardson WASHINGTON (Reuters) - Corporate America says it is ready to work with President-elect Joe Biden, hoping for quick action on a new round of COVID-19 relief and infrastructure
November 9, 2020
By David Shepardson
WASHINGTON (Reuters) – Corporate America says it is ready to work with President-elect Joe Biden, hoping for quick action on a new round of COVID-19 relief and infrastructure spending.
Major business trade groups like the U.S. Chamber of Commerce and Business Roundtable quickly issued congratulating statements to Biden even though President Donald Trump has declined to concede.
“Job number one must be pandemic relief. American small businesses cannot afford for Congress to wait another three months to act,” U.S. Chamber of Commerce Chief Executive Thomas Donohue said. “Modernizing our infrastructure has broad support and can drive the growth and jobs we need now.”
To boost infrastructure spending dramatically, Biden has vowed to raise the U.S. corporate tax rate to 28% from the current 21% and to impose a minimum tax to ensure no U.S. corporation can avoid paying income taxes.
The National Association of Manufacturers said the election results, which included Biden’s win and gains by House Republicans, show “the American people are not interested in extreme policies from either party; they are looking for smart, stable and solutions-oriented governance.”
United Airlines <UAL.O> Chief Executive Scott Kirby on Monday wrote Biden to congratulate him. “We are ready to work with leaders in Washington in support of our nation, our economy and our environment.”
Executives from major tech firms, including Facebook <FB.O>, Microsoft <MSFT.O> and Amazon.com <AMZN.O>, also issued statements of support, as did Detroit’s Big Three automakers.
Amazon Chief Executive Jeff Bezos wrote via Instagram on Saturday that “Unity, empathy and decency are not characteristics of a bygone era,” posting a photo of Biden and Vice President-elect Kamala Harris.
The National Mining Association, the trade group for U.S. mining companies, congratulated Biden, saying “working together we can increase the competitiveness of existing industries and reestablish and strengthen our domestic supply chains.”
The U.S. Travel Association praised “President-elect Biden’s objective of helping the industries most heavily impacted by the pandemic. The travel industry accounts for more than a third of overall U.S. unemployment, and policies to promote relief, recovery, and stimulus for travel businesses are integral to a U.S. economic turnaround.”
(Reporting by David Shepardson; additional reporting by Ernest Scheyder; Editing by Dan Grebler)