US President Joe Biden meets top CEOs to push stimulus package

A meeting was arranged between the top CEO’s in America and US President Joe Biden to discuss details and to “move big” in regards to the stimulus package and minimum wage revision proposed by the President. Biden said, “We’re approaching this issue to see if we can find some common ground,” prior to the commencement of the meeting and demonstrated a positive outlook towards bipartisan cooperation.

The meeting included business leaders from JPMorgan, Walmart, Lowe’s and Gap with Treasury Secretary Janet Yellen representing the US authorities. 

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The relief plan proposed by Biden, whose primary objective is to help the US economy recover from the damage caused during the COVID-19 pandemic, includes financial assistance towards the unemployed, small businesses and other struggling sectors in the US. 

The members of the Republican party have heavily scrutinised and criticised the plan of increasing the minimum wage by Biden, which nearly doubles the amount from $7.25 to $15 per hour. 

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A bipartisan agreement on the relief package has been urged by the US Chamber of Commerce, which advised against a proposal headed solely by the Democrats as it could overshadow other priorities like climate change and infrastructure.  

The Business Roundtable has endorsed a “significant” package, but said a minimum wage would be “better debated in later legislation, so as not delay this round of relief.”