Biden talks economic recovery, introduces labor and commerce nominees
During a roundtable at the White House, the president announced the need for another stimulus package for $ 1.9 trillion
President Joe Biden said there was a “big push” needed to pass the $ 1.9 trillion stimulus plan that the White House administration and the Democratic Party are pushing for. Biden said this on Tuesday during a meeting with the heads of the largest American companies, which took place at the White House. The President also discussed with top managers his proposal to raise the federal minimum wage.
“We will look at these issues to see if we can find common ground,” Biden said before meeting with businessmen..
The President added that he was “optimistic” about a possible compromise between Democrats and Republicans on the next package of aid to the economy..
CEOs of Walmart, JPMorgan Chase, Gap, Lowe’s and other large corporations met with President Biden. Finance Minister Janet Yellen also attended the meeting.
Biden’s economic crisis plan includes additional stimulus payments to households, bailout for restaurants and small businesses, an increase in federal unemployment benefits, and additional funding for COVID-19 vaccine distribution..
Republicans in Congress criticize Biden’s plan as too costly, and vehemently reject proposals to raise the federal minimum wage from $ 7.25 to $ 15 an hour and to allocate $ 350 billion to state and municipal governments..
Chamber of Commerce CEO Tom Donoghue, who also attended the meeting, called for the adoption of an aid package agreed between the two parties. Donoghue, who will soon be stepping down, warned that if only Democratic priorities are ultimately taken into account, it could jeopardize funding for other areas, including spending on infrastructure and the fight against climate change..
Earlier, members of the Business Roundtable, a nonprofit association of CEOs from major US companies, approved a “large-scale” aid package, but suggested that minimum wages be discussed later to avoid delaying the current round of aid to the economy..
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