Over 140 Business Leaders Urge Lawmakers to Act Quickly
Dozens of business leaders, including the CEOs of major companies such as United Airlines and (Macy’s), wrote to members of the United States Congress on Monday (July 26), urging them to act quickly to pass the stagnant bipartisanship Infrastructure Act.
In this letter to Senate Majority Leader Chuck Schumer, Senate Minority Leader Mitch McConnell, House Speaker Nancy Pelosi, and House Minority Leader Kevin McCarthy, business leaders wrote Said, “We urge you to seize the opportunity and act quickly to adopt this bipartisan initiative.”
This open letter to the leaders of Congress has been supported by executives from all walks of life, from finance and manufacturing to tourism, technology, and catering. Over 140 corporate executives, including the CEOs of Lyft, Peloton and Darden Restaurants, signed the letter.
In the letter, business leaders expressed strong support for the bipartisan infrastructure framework, calling it a “long-awaited and urgently needed project to update and rebuild our country’s crumbling infrastructure.”
“The framework that Congress and the Biden administration have worked hard to develop reflects the common priorities of labor, businesses, state and local governments, and the American people.” The letter reads, “It will leverage a large amount of private investment and bring richness to the federal government. s return.”
Business organizations including the U.S. Chamber of Commerce and the National Association of Manufacturers have also called on lawmakers to pass an infrastructure bill. Last week, leaders of these groups and unions met with Biden at the White House and emphasized their support for the infrastructure bill.
At the time when the business community launched the latest pressure, Republicans and Democrats blamed each other, and it was difficult for the two sides to reach a compromise on outstanding issues in the infrastructure negotiations.
In June of this year, the White House and 10 senators from both parties in Congress reached a partial agreement on a large-scale infrastructure construction plan, agreeing to spend 1.2 trillion US dollars on infrastructure in the next 8 years, of which 575 billion US dollars are new federal expenditures. Including transportation infrastructure expenditures, water resources transportation and processing facilities expenditures, broadband network expenditures, etc.
The U.S. Senate’s infrastructure bill negotiations suffered setbacks on Monday. Republicans rejected the White House and Democrats’ proposals to resolve all outstanding issues, thus making Congress doubt the goal of passing the $575 billion infrastructure bill before the August adjournment.
The Democrats’ proposal on Sunday night aims to resolve differences in terms of funding sources for highways, bridges, water, broadband, and transportation, the establishment of an infrastructure bank, and the amount of unused anti-epidemic funds that can be used to pay for infrastructure projects. However, a Republican who is familiar with negotiations said that the proposal attempts to restart some of the issues that the two parties’ negotiators have resolved.
Former President Trump said in a statement on Monday that Democrats are treating Republicans as “weak fools and losers” in the process of pushing for a bipartisan infrastructure agreement.