Tags: Obama | business | leaders | cliff

Obama Woos Romney Backers Over Fiscal Cliff

Wednesday, 28 Nov 2012 11:36 AM

By Bill Hoffmann

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The moneymen and women who fought ferociously with their fortunes to put Mitt Romney in the White House are meeting with President Barack Obama on Wednesday.

The list of multimillionaire business leaders who gave sizeable donations to the Romney campaign and Republican Party include Marriott CEO Arne Sorenson, AT&T CEO Randall Stephenson, State Farm CEO Ed Rust, and Caterpillar CEO Douglas Oberhelman, according to USA Today.

During the meeting, the Obama administration will try to convince the GOP-friendly executives to back its debt reduction proposal.

That proposal faces a slippery slope since it would include higher taxes for wealthy Americans, although many influential GOP leaders on Capitol Hill have softened their positions on the issue.

Not all of the business leaders at today’s crucial powwow are Romney backers. Those who supported Obama include CEOs  Brian Roberts of Comcast, Marissa Mayer of Yahoo and Patricia Woertz of Archer Midlands Daniel.

Politico reports that reaching out to business leaders, regardless of their political slant, “has been a key part of Obama's strategy to pressure Congress on the fiscal cliff.’’

Other business powerhouses attending include CEOs Muhtar Kent of Coca Cola, Frank Blakeof The Home Depot, Lloyd Blankfein of Goldman Sachs, Ian Read of Pfizer, Joe Echeverria of Deloitte, Ken Frazier of Merck, and Terry Lundgren of Macy’s.

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