Chief executives from some of the biggest U.S. corporations descend on Washington to meet with President Barack Obama and House Speaker John Boehner to urge agreement on addressing the fiscal cliff, Bloomberg reports.
Obama, Vice President Joe Biden and Treasury Secretary Tim Geithner will meet with Frank Blake of Home Depot Inc.; Joe Echeverria of Deloitte LLP; Ken Frazier of Merck and Co. Inc.; Muhtar Kent of Coca-Cola Co.; Terry Lundgren of Macy’s Inc.; Marissa Mayer, president of Yahoo!; Douglas Oberhelman of Caterpillar Inc.; Ian Read of Pfizer Inc., Brian Roberts of Comcast Corp.; Ed Rust of State Farm Mutual Automobile Insurance Co.; Arne Sorenson of Marriott International Inc.; Randall Stephenson of AT&T Inc.; and Patricia Woertz of Archer-Daniels Midland Co.
Before that meeting, Boehner will hold a CEO confab of his own with Thomas Wilson of Allstate Corp., David Cote of Honeywell International Inc., Mark Bertolini of Aetna Inc. and others.
Meanwhile, Joseph Kennedy, CEO of Pandora Media Inc., will tell a House Judiciary subcommittee hearing on music licensing that his company, the biggest online radio service, is subject to an “astonishingly high royalty burden” that Congress should takes steps to fix, according to his prepared remarks.
Also today, Americans for Tax Reform President Grover Norquist discusses tax policy and politics at the Newseum. The Congressional Hispanic Caucus holds a news conference on immigration reform at the U.S. Capitol. And the Federal Reserve releases its “Beige Book” regional economic survey, published two weeks before each Federal Open Market Committee meeting on interest rates.