As President Joe Biden continues his mission to ease consumer pain in the wake of the pandemic, he has received an unexpected boost from Big Business. Companies from across the corporate spectrum – from tech giants like Amazon to financial institutions like Bank of America – have thrown their support behind the President’s efforts, offering a rare show of bipartisan unity in a time of deep political division.
Amazon, for example, has made a commitment to hire an additional 75,000 workers to help meet the surge in demand it has seen over the past year. It has also pledged to raise its minimum wage to $15 an hour and invest more than $2 billion in workforce development initiatives. Meanwhile, Bank of America has committed to providing $1 billion in new loans and investments to help support small businesses and communities that have been hardest hit by the economic crisis.
Other companies, such as Microsoft, have committed to offering new skills training programs that will give employees the opportunity to learn in-demand skills that will help them remain competitive in an ever-changing job market. The tech giant has also pledged to invest more than $500 million to help create economic opportunities in underserved communities.
The show of unity from Big Business has been welcomed by the Biden Administration, which has been working hard to address the economic pain that many Americans are feeling as a result of the pandemic. The President has proposed a comprehensive $1.9 trillion economic relief package that seeks to provide direct payments to individuals and families, extend unemployment benefits, and provide additional funds to state and local governments. The support from Big Business could prove to be a crucial factor in getting the relief package passed. With the backing of major corporations, the President may be able to build a coalition of support that will help push the legislation through Congress.
While the impact of the pandemic on the economy has been significant, the show of support from Big Business indicates that there are some positive signs on the horizon. If the President’s relief package is approved, it could provide much-needed relief to millions of Americans who have been struggling to make ends meet. As the President works to ease consumer pain, he can rest assured that he has the support of Big Business.