Dozens of business leaders, including the CEOs of BlackRock, United Airlines and Macy’s, called on lawmakers Monday to swiftly enact the $1.2 trillion bipartisan infrastructure bill that is stalled in Congress.
More than 140 executives signed the public letter to congressional leaders expressing strong support for the bipartisan infrastructure framework, calling it a “long awaited and desperately needed program to renew and rebuild our nation’s crumbling infrastructure.”
The letter, organized by the Partnership for New York City, stressed that modernizing and expanding America’s physical and digital assets are a “necessary foundation for our nation’s sustainable growth.”
The bipartisan infrastructure plan, if enacted, would ramp up spending on waterways, broadband networks, bridges and water systems.
“The framework that Congress and the Biden administration have worked diligently to craft reflects priorities shared by labor, business and state and local governments, as well as the American people,” the letter said. “It will leverage significant private investment and generate a strong return for the federal government.
The pressure campaign from the business community comes as Republicans and Democrats pointed fingers at each other as they struggled to reach a compromise on outstanding issues in the infrastructure negotiations. The two sides have failed to come up with a way to pay for the new investments.
The letter received support from executives representing a broad range of industries, from finance and manufacturing to travel, technology and restaurants. It was signed by the CEOs of Lyft (LYFT), Peloton (PTON), American Express (AXP), American Airlines (AAL), Nasdaq and Darden Restaurants (DRI).
“We urge you to seize the moment and act quickly to pass this bipartisan initiative,” the letter said.
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