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Business chieftains back Obama approach
CEOs caution: Spending cuts must accompany tax increases
“They would like the voice of business to be helpful in this and that probably, particularly to be willing to say that we recognize that revenue increases, meaning tax increases, are part of that,” he said.
“I think generally people have the view that if it’s balanced, if there are revenue increases, that’s fine but don’t only talk about revenue increases,” he added.
Mr. Echeverria also said he got the sense from the meeting that business leaders are now considering tax increases on those making more than $250,000 as a fait accompli.
“I think everybody took it as supportive as part of a bigger solution — that this by itself isn’t the solution, but as part of a broader solution. Time to move on.”
In an interview with CNN’s Wolf Blitzer after the meeting, Goldman Sachs CEO Lloyd Blankfein seemed to concur, although a bit more tentatively.
“I think if that’s what it took to make the math work, when you look at what — when you look at the entitlement side and when you look at the revenue side, I wouldn’t — I wouldn’t preclude that,” he said of Mr. Obama’s tax increase proposal. “Of course, we would have to do that at the numbers — if the numbers drive that way.”
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About the Author
Susan Crabtree is an award-winning investigative reporter with more than 15 years of reporting experience in Washington, D.C. Her reporting about bribery, corruption and conflict-of-interest issues on Capitol Hill has led to several FBI and ethics investigations, as well as consequences for members within their caucuses and at the ballot box. Susan can be reached at firstname.lastname@example.org.
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