Disney’s Iger to DC: Deal with ‘Fiscal Cliff’ Now
Disney CEO Robert Iger said that dealing with the "fiscal cliff" — when $600 billion in spending cuts and tax increase hit the economy at the start of 2013 — is not something that can fall prey to the typical Washington rhetoric and must be dealt with immediately.
In an interview with CNBC's "Closing Bell" on Thursday, Iger said, "My exhortation to our government is don't even get close to the fiscal cliff. Deal with it immediately and deal with it productively. Don't threaten the country and our economy."
Iger was optimistic that politicians could reach a deal.
"There's a lot of commitment expressed by both parties about bipartisanship and addressing what I think is a huge issue," Iger said. "I hope there really is going to be an attempt at getting something done." (Read More: Boehner Extends Olive Branch on 'Fiscal Cliff'.)
The Disney executive would like to see corporate tax reform as part of any potential deal to boost economic growth. With U.S. corporate tax rates the highest in the world, Iger said that the U.S. is less competitive and potential growth is being undermined.
He advocated not only reducing the tax rate but also closing some of the loopholes.
"That would make the country far more competitive," Iger said. "I hope that the president and Congress are very mindful of that."