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CEOs to Washington: Don't leave us out of stimulus

By Ben Rooney, staff reporter

NEW YORK (CNNMoney.com) -- As policymakers in Washington focus on ways to help small businesses, the leaders of America's biggest companies delivered their own message on Tuesday: Don't leave us out of efforts to stimulate the economy.

The Business Roundtable, an association of chief executives from major U.S. companies, said the best way to help small businesses, traditionally the main driver of job growth, is to adopt policies that will boost their sales.

The average large corporation buys $3 billion worth of goods and services from small businesses every year, according to a Roundtable survey. All told, big businesses and multinationals generate an estimated $1.5 trillion in sales for small businesses annually.

"It is critical that public policies are designed to encourage growth and job creation for all companies in the United States, not just firms of a certain size," Larry Burton, executive director of the Roundtable, said in a statement.

The push-back from big business comes as President Obama seeks to recharge a stalling economic recovery with recently proposed tax breaks for small businesses, additional infrastructure spending and other measures. Obama has signaled that the proposals could be paid for by eliminating certain tax incentives and subsides for large companies, particularly those that do business overseas.

Meanwhile, the Senate voted Tuesday to move the $42 billion Small Business Jobs Act forward, bringing the bill one step closer to passage. The bill, which will have to pass another vote before going back to the House, would provide low-cost loans and offer tax breaks to small businesses.  To top of page

Index Last Change % Change
Dow 17,813.39 1.20 0.01%
Nasdaq 5,116.14 13.34 0.26%
S&P 500 2,088.87 0.00 0.00%
Treasuries 2.23 -0.01 -0.49%
Data as of 6:49am ET
Company Price Change % Change
Pfizer Inc 32.87 0.91 2.85%
HP Inc 12.64 -2.00 -13.66%
General Electric Co 30.36 -0.30 -0.98%
Bank of America Corp... 17.44 -0.05 -0.29%
Freeport-McMoRan Inc... 8.10 -0.20 -2.41%
Data as of Nov 25


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