Corporate Concerns Over Biden’s Policies and Growing Criticism from Business Leaders

Corporate Concerns Over Biden’s Policies

During a recent meeting between White House chief of staff Jeffrey Zients and top executives in Washington, corporate leaders expressed a range of concerns regarding President Biden’s policies. The Business Roundtable, representing major corporations, raised objections to proposed tax increases, highlighted the lack of business representation in the Cabinet, and criticized what they perceived as overregulation by federal agencies.

Growing Criticism from Business Leaders

Over the past three and a half years, executives have voiced discontent with Mr. Biden’s stance on issues such as “corporate greed” and his public support for union activities. There have been tensions surrounding the appointments made by the Biden administration, particularly with figures like Lina Khan at the Federal Trade Commission, who has taken actions to block corporate mergers.

A notable shift in sentiment has been observed among some prominent Silicon Valley and Wall Street figures, including David Sacks, Marc Andreessen, and Kenneth Griffin, who have openly criticized Mr. Biden while expressing admiration for former President Donald J. Trump. However, the majority of corporate executives, according to Yale School of Management professor Jeffrey Sonnenfeld, still prefer Mr. Biden over Mr. Trump, with varying degrees of enthusiasm.