CEO DATELINE - Associations decry apparent halt on stimulus talks
CEO DATELINE - Associations decry apparent halt on stimulus talks
- October 7, 2020 |
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Walt Williams
Multiple business groups expressed outrage Tuesday after President Donald Trump announced on Twitter that he was halting talks on a new economic stimulus package, although he later seemingly reversed himself after the stock market reacted badly to the news.
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Associations have been warning for months that their business members will be forced to lay off tens of thousands of workers and possibly close for good unless Congress sets aside more COVID-19 relief funds. So far Republicans and Democrats in Congress have been unable to reach a deal on a new stimulus package.
Trump tweeted Tuesday that he was calling off negotiations until after the upcoming elections and had directed Senate Republicans to instead focus on confirming U.S. Supreme Court nominee Amy Coney Barrett to the bench. However, he later appeared to walk back that statement after the stock market took a tumble, saying he was open to another round of stimulus checks and aid for the airline industry.
Associations reacted with alarm over the seeming impasse. Business Roundtable said in a statement it was "deeply troubled" by the news.
"Failure to reach a deal on additional relief would worsen and prolong the crisis for our country," the group said.
Chip Rogers, CEO of the American Hotel & Lodging Association, said the impasse was unacceptable given millions of Americans are out of work.
"Millions of jobs and the livelihoods of people who have built their small business for decades are just withering away because our leaders in Washington are prioritizing politics over people," he said. "America's hotel industry is on the brink of collapse. We can't afford to let thousands of small businesses die and all of the jobs associated with them be lost for many years."
Some groups took Trump's later walk-back as a good sign. Airlines for America tweeted that it appreciated the president's "continued support for U.S. airline employees."
"We remain hopeful that @potus or Congress will act swiftly to save these jobs," the association said.
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