160 CEOs ask Congress to pass COVID-19 relief
One hundred and sixty chief executive officers sent an open letter to congressional leadership Wednesday, urging lawmakers to pass "immediate and large-scale federal legislation to address the health and economic crises brought on by the COVID-19 pandemic" on a bipartisan basis.
The letter asks Congress to "to authorize a stimulus and relief package along the lines of the Biden-Harris administration’s proposed American Rescue Plan," perhaps leaving some room for negotiation on what the final package will look like. But the letter makes clear that major business CEOs, including the heads of Morgan Stanley, Visa, United Airlines, BlackRock, Comcast and Google are pushing for relief on the scale of Biden's plan.
"The American Rescue Plan provides a framework for coordinated public-private efforts to overcome COVID-19 and to move forward with a new era of inclusive growth. The country’s business community is prepared to work with you to achieve these critical objectives," the letter says.
Just Tuesday, though, Sen. Mitt Romney, R-Utah, one of the few Senate Republicans who has shown willingness to buck his party, criticized the $1.9 trillion bill in a Wall Street Journal op-ed.
"The $1.9 trillion bill is a clunker. It would waste hundreds of billions of dollars, do nothing meaningful to get kids back to school, and enact policies that work against job creation. The Congressional Budget Office’s recent analysis of the plan found that more than a third of the proposed funding—$700 billion—wouldn’t be spent until 2022 or later, undermining the administration’s claim that the massive price tag is justified for urgent pandemic-related needs," Romney wrote.
Whether the pressure from big business will sway any Republicans in the Senate remains to be seen, but Wednesday morning's messaging from GOP lawmakers is pretty clear: They have no intentions of budging.
-ABC News' Sarah Kolinovsky