American News Feb 24, 2021 4:58 PM EST

150 corporate executives sign letter backing Biden's $1.9 trillion relief plan

150 top American business executives have signed a letter to Congress in support of President Joe Biden's $1.9 trillion coronavirus relief plan.

150 corporate executives sign letter backing Biden's $1.9 trillion relief plan
Noah David Alter Toronto
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150 top American business executives have signed a letter to Congress in support of President Joe Biden's $1.9 trillion coronavirus relief plan.

"Congress should act swiftly and on a bipartisan basis to authorize a stimulus and relief package along the lines of the Biden-Harris administration’s proposed American Rescue Plan," the letter states.

"More than 10 million fewer Americans are working today than when the pandemic began, small businesses across the country are facing bankruptcy, and schools are struggling to reopen," the letter continues.

"The most vulnerable Americans — including women, people of color and low wage workers — are experiencing the worst of the pandemic, with unprecedented job loss, childcare burdens and food insecurity. States and cities have been crushed by pandemic-related expenses and revenue losses."

"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 finishes.

Among the signatories of the letter includes executives from various entertainment companies, banks, hedge funds, airlines, and tech giants.

The letter is expected to be formally delivered to Congress on Wednesday.

Republicans, however, have expressed skepticism towards the plan, which includes raising the federal minimum wage to $15 per hour and expanding unemployment benefits. Some have argued that the plan would lead to higher inflation while others have expressed concern that it could send the deficit soaring.

Some Republicans have also expressed frustration with the lack of bipartisanship in crafting the bill, arguing that they have been shut out of the process.

Despite Republican opposition, the bill has received bipartisan support among the electorate, spelling potential trouble for the Republican opposition.

The full list of signatories is: Nomura Holding America Inc., CIT Group Inc., McGraw-Hill Education, Inc., Centerbridge Partners, Davis Polk & Wardwell LLP, Zillow, Hughes Hubbard & Reed LLP, Taconic Investment Partners LLC, Odyssey Investment Partners, LLC, Radius Global Infrastructure, Inc., Fiserv, The Related Companies, L.P., Ruder Finn, Inc., Survey Monkey, Blue Wolf Capital Partners, Betaworks, Intersection, Silverstein Properties, Inc., Squarespace, Inc., Con Edison, Inc., Sullivan & Cromwell LLP, Syndio Solutions, Vanbarton Group LLC, PJ Solomon, L.P., OTC Markets Group, STUDIOS Architecture, Trepp, LLC, Simpson Thacher & Bartlett LLP, Edelman US, Durst Organization Inc., Centerview Partners, Ehrenkranz Partners L.P., A&E Real Estate, LLC, Proskauer, Guardant Health, Edgewood Management LLC, HFZ Capital Group, BlackRock, Finn Partners, Suffolk, Fisher Brothers, General Atlantic LLC, Amalgamated Bank, Continental Grain Company, Patagonia, Intel Corporation, Altice USA, Broadridge Financial Solutions, Inc., PPC Enterprises LLC, Morgan Stanley, Newmark, Weld North LLC, Fried, Frank, Harris, Shriver & Jacobson LLP, Movado Group, Inc., Lightyear Capital, JetBlue Airways Corporation, Himmel & Meringoff Properties, Inc., Siemens USA, CI Capital Partners LLC, Delaware North Companies, Inc., Lazard, Sesac, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Warburg Pincus LLC, Gingko Bioworks, Visa Inc., Mitchell & Titus, LLP, Skanska USA Inc., MetLife, Inc., Brookfield Asset Management, United Airlines, Casper, Armand Corporation, Halmar International, LLC, &pizza, The Estée Lauder Companies, Inc., Ogilvy & Mather Worldwide, The LeFrak Organization, Boston Consulting Group, Affirm, Inc., Box, Douglaston Development, The Corcoran Group, Inc., Wachtell, Lipton, Rosen & Katz, LivePerson, Inc., Condé Nast, First Eagle Investment Management, LLC, Empire State Realty Trust, E-J Electric Installation Co., WeWork, Trian Partners, The Guardian Life Insurance Company of America, LVMH Moët Hennessy Louis Vuitton Inc., Bank Leumi USA, Collective[i], Saks Fifth Avenue, Union Square Hospitality Group, Mastercard, Edward J. Minskoff Equities, Inc., Qualcomm, TechNet, MCR Development LLC, DM Mulligan, LLC, Kajeet, Global Business Travel Association, Great Performances, Shutterstock, Inc., American Airlines, S&P Global, Jamestown Properties LLC, Google, PG&E, Lafayette 148 New York, Via, RXR Realty LLC, Deutsche Bank Americas, Comcast Corporation, HSBC Bank USA, RRE Ventures, BlueVoyant, Interpublic Group, Vornado Realty Trust, Rubenstein Communications, Inc., Rudin Management Company, Inc., AlleyCorp, ABM Industries Inc., Wells Fargo Bank, N.A., Evercore Partners Inc., Sidley Austin LLP, The Travelers Companies, Inc., Guggenheim Partners, LLC, Blackstone, Sciame Construction, LLC, Siebert Williams Shank & Co., LLC, Medidata Solutions, Inc., Allen & Company LLC, T-Mobile US, Inc., Global Strategy Group, LLC, Officer, Kroll, Etsy, Inc., Goldman Sachs, Cowen, Tishman Speyer, AT&T, Perella Weinberg Partners, Silvercup Studios, Hearst, PJT Partners Inc., Boston Properties, Loews Hotels & Co., Tishman Realty, Unibail-Rodamco-Westfield, IBM Corporation, DeVito/Verdi, Vox Media, WatermanClark, EisnerAmper LLP, Standard Industries Inc., Partnership for New York City, National Grid, DoorDash, Zoom, ZMC, and Lyft, Inc.

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