From JPMorgan's Jamie Dimon to Salesforce's Marc Benioff: Top CEOs on more stimulus from Congress
Although negotiations surrounding a new coronavirus relief bill have resumed between Democrats and Republicans, it is still unclear whether new legislation will pass before the new year.
Over nine months have passed since President Donald Trump signed the $2.2 trillion Coronavirus Aid, Relief, and Economic Security, or CARES, Act. Since, Congress has remained at an impasse.
Experts and economists have urged for more relief, including extending enhanced unemployment benefits and providing more aid to small businesses. CEOs and other business leaders have also spoken up, as most aid from the CARES Act either expired in July or will expire in December and leave about 12 million Americans without unemployment benefits.
Here's what some of America's top CEOs have said.
JPMorgan Chase CEO Jamie Dimon
JPMorgan Chase CEO Jamie Dimon encouraged Congress to pass a second relief bill to help struggling Americans amid the pandemic.
"I know now we have this big debate. Is it $2.2 trillion, $1.5 trillion?" Dimon said at The New York Times' DealBook conference on Nov. 18, referring to conflicting relief bill proposals that had previously been put forth by Democrats and Republicans. "You gotta be kidding me. I mean, just split the baby and move on. This is childish behavior on the part of our politicians."
(Most recently, bipartisan lawmakers introduced a $908 billion package on Tuesday, but Senate Majority Leader Mitch McConnell rejected the proposal later that day and circulated a $500 billion plan. However, House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer hope to use the $908 billion plan as the jumping off point for continued relief talks, rather than their previous $2.4 trillion dollar ask.)
McDonald's CEO Chris Kempczinski
McDonald's CEO Chris Kempczinski expressed support for another stimulus package in an interview with CNBC's Carl Quintanilla on "Squawk on the Street" which aired Nov. 10.
"Our hope and expectation [at McDonald's] is that as we've now moved from the election that we can turn our sights toward working together and solving some big issues that we still as a country face. Certainly coronavirus is one of those issues," Kempczinski told CNBC. "We need a stimulus measure, I think that is very clear."
Kempczinski didn't clarify what he thinks should be included in a measure.
"There are a lot of stuff to do, and that only can happen if we come together as a nation."
Kohl's CEO Michelle Gass
Kohl's CEO Michelle Gass spoke in support of the first stimulus package and encouraged additional help for those struggling across the country.
"When the first stimulus package was passed ... it impacted consumers and it gave them the safety net they needed," Gass told Yahoo Finance editor in chief Andy Serwer in an interview that aired Nov. 5. "I'm just a big fan of whatever we need to do to help the economy and our customers come out the other side of this."
Walmart CEO Doug McMillon
In October, Walmart CEO Doug McMillon encouraged Congress to put politics aside to help those in need with more aid.
"For both sides, I think what they need to keep in mind is that there are Americans that need them...they just need some help," McMillon said in an interview on CNBC's "Squawk Box" on Oct. 15. "Doing nothing is not the first and best option."
Salesforce CEO Marc Benioff
Salesforce CEO Marc Benioff said the first stimulus package, which included one-time stimulus checks for many Americans, could indicate that universal basic income, or UBI, could be "part of our future" in the U.S.
"I think that basic income will be part of our future, we can see the need for that right now, there will be other needs for that as well, and we can learn from this," Benioff told The Washington Post on June 10 after stimulus checks were sent to eligible Americans. "This is a major test we're running in our own country [with] stimulus."
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