In the Social Policy Bill, businesses see a lot to like. They oppose it.
“People say they are to this new stakeholder economy, that they are committed to sustainability,” said Hollander, who is now chief executive officer of the liberal American Council on Sustainable Business. “But at the same time, there is a system of incentives designed to maximize profits, and businesses don’t like it when those profits are threatened.”
More mainline business groups backtracked on the allegations. Mr Bradley of the Chamber of Commerce agreed that parts of the Democratic vision reflected the longstanding wishes of the business lobby. Accessible child care is a high priority, he said, and addressing climate change with investments in clean energy is overdue.
“The administration was right to increase IRS enforcement to close the tax gap,” he said. “We want a pro-growth tax code, but we want people to follow that tax code.”
But he added that the way Democrats were addressing those issues — hastily covered them in a colossal $3.5 trillion measure to be passed through a fast-track process called reconciliation — guaranteed opposition. is referred to as.
For example, business groups were working with lawmakers on both sides to create a paid family and medical leave program that would be paid for with a payroll tax, which would be shared between businesses, workers and the government. In fulfillment of Mr. Biden’s pledge to raise no taxes on people earning less than $400,000, the payroll tax has disappeared, replaced by a variety of tax increases on wealthy people and corporations that are now exempt from that program. Not connected what they are for finance.
Mr Bradley said: “Outside the context of reconciliation, paid family leave will require intense negotiation and trade-offs, but it will not be outside the realm of possibility that we may find an offer we can support.” Huh.” “Inside reconciliation, it’s only getting worse.”
The Business Roundtable, which represents the CEOs of the nation’s largest corporations, expressed a similar desire. “There is strong bipartisan support for some of these policies, and we encourage Congress to take that through a deliberative process, not conciliation,” the group said in a statement.
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