After President Barack Obama sought to draw top corporate chieftains to his side on tax and spending issues with a summit meeting Wednesday, Republicans are seeking to bring them back to the GOP side.
House Republicans have embarked on a serious lobbying campaign to accomplish that goal,
Politico reports.
“We’re talking to all of them — CEOs, Fortune 500, Fix the Debt — for the same [reason], how do we have a pro-growth economy and at the same time fix the debt issues so that we all do it right?” said House Whip Kevin McCarthy. “We’re talking, we’re listening, we’re building ideas, all on the same front that we put the country first and solve this problem.”
The GOP has traditionally been the party of business. That changed a bit in 2008, as corporate leaders were enamored with Obama. Then many soured on the president and supported Mitt Romney in the election. But now some corporate leaders are joining Obama in his call for tax increases.
Enticing CEOs back to their side could give Republicans more bargaining leverage as they seek to negotiate a compromise with the president over the fiscal cliff – automatic spending cuts and tax increases that will begin Jan. 1 if the government doesn’t act.
Obama and congressional leaders are beginning their talks on the cliff Friday. Republicans have stated that they are open to increasing tax revenue. But they won’t countenance higher tax rates. Instead, they would support limiting deductions for the wealthy.
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