Obama plans to sit down with a dozen chief executives to hear their ideas about how the nation can avoid the tax increases and program cutbacks known as the fiscal cliff.
Many business leaders were also appalled by last summer’s brinkmanship over the debt ceiling, although they largely refrained from criticizing congressional Republicans.
A senior financial industry lobbyist suggested that this year’s fiscal confrontation might play out in a similar way — and that despite the fiscal cliff’s threat to the economy, business groups are unlikely to lean heavily on GOP lawmakers to accede to Obama.
“It’d be a tough position to put ourselves in,” the lobbyist said. “They’ve been helpful.”
Vice President Joe Biden waits to conduct a mock swearing-in ceremony with Sen. Brian Schatz, D-Hawaii, in the Capitol's Old Senate Chamber, December 2, 2014. Schatz was sworn in to serve the remainder of his term since he was appointed to the seat after Sen. Daniel Inouye, D-Hawaii, passed away.