JPMorgan CEO Jamie Dimon, who heads the largest U.S. bank and is among the most vocal corporate chieftains on policy, is urging employees and individuals to unite following the confirmation of President-elect Joe Biden.
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| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| JPM | JP MORGAN CHASE & CO. | 102.96 | -1.39 | -1.33% |
AS BIDEN WINS, BUSINESS GROUPS TURN FOCUS TO CORONAVIRUS RELIEF
“Now is a time for unity. We must respect the results of the U.S. presidential election and, as we have with every election, honor the decision of the voters and support a peaceful transition of power. We are a stronger country when we treat each other with dignity, share a commitment to a common purpose and are united to address our greater challenges. No matter our political views, let’s come together to strengthen our exceptional country,” said Dimon in a statement obtained by FOX Business on Saturday.
Dimon has been one of the more active CEOs when it comes to fiscal policies. He previously served as CEO of the Business Roundtable, a group that represents 15 million U.S. employees and $7 trillion in U.S. revenues. During his tenure, he was a vocal proponent of tax reform to make the U.S. more competitive.
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As covered by FOX Business, in December 2017 he urged more tax reform.
“Five-thousand companies are now headquartered overseas that were headquartered here, staring you in the face is $4 trillion dollars of American capital that was reinvested overseas that might have been invested here,” said during a BRT update with reporters at the time.
President Trump earned praise for ultimately cutting the corporate tax rate from 35% to 21% spurring a round of pro-business policies and economic growth.
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Biden has said he would look to lift the corporate tax rate to 28%, a move that has left some CEOs uneasy.
ConocoPhillips CEO Ryan Lance, during an earnings conference call earlier this month, was asked about the election and any impact to business.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| COP | CONOCOPHILLIPS INC. | 29.19 | -0.93 | -3.09% |
“Obviously, the change in the corporate tax rate from 21% to 28%,” said Lance.
The company did not elaborate on details when asked by FOX Business.
