Walmart CEO Doug McMillon spoke at an event hosted by the Business Roundtable on Tuesday. He said that the people of America find themselves facing health and economic crises as well as racial inequity. He also mentioned that the “fiction of a fraudulent election” was the largely responsible for a divided electorate.
Many companies have had a rethink about their contributions to political parties after the Capitol riot. Major companies including Facebook and Coca Cola have totally stopped political contributions. Walmart has suspended contributions to the Republicans, all 147 of them, who had tried to revoke President-elect Joe Biden’s victory. He also said that big business will not stay at the sidelines for long and they will play a role in a “thoughtful manner.”
Josh Bolten CEO and McMillon Chairman of the Business Roundtable expressed support for Biden’s $1.9 trillion rescue package especially with references to funds for vaccinations and aid for small businesses and Americans in need. However, they expressed caution at the minimum wage being raised to $15 per hour. Bolten said that he hopes that Congress would consider the wage hike on a “bipartisan basis.”
Austin Goolsbee, a former economic advisor to President Obama replied intelligently and honesty to this comment. He told CNN business that it was ironic that the groups who said that economic policy changes must be made on a bipartisan basis, when it was with reference to minimum wage, but the same groups supported “massive $2 trillion tax cuts for corporations and high-income people on a totally partisan basis.”
As a candidate Biden had supported rolling back some of the tax cuts given by the Trump administration.
