So you are going to believe or invest on rumor sourced from Twitter?
The Business Roundtable's campaign to kill BBB
The Business Roundtable did not seek to work with the White House or Congress to make BBB more business-friendly. Instead, it launched a public campaign to kill the bill, arguing it would be catastrophic for the American economy.
While Barra became chair of the Business Roundtable on January 1, 2022, she has been a member of its leadership for years. And the campaign has continued after Barra assumed her new position.
When the White House released a framework for BBB in October 2021, the Business Roundtable released a
statement claiming it "would seriously undermine U.S. growth, competitiveness and jobs and make it harder for companies to invest in innovation and workers." When the House passed BBB in November 2021, the Business Roundtable released a
statement saying it was "disappointed that the House of Representatives voted in favor of one of the largest tax increases in history on American job creators" and that the legislation would "erode America’s competitive standing and favor foreign competitors over American businesses and workers."
The Business Roundtable's opposition extended far beyond press releases. The organization spent hundreds of thousands of dollars on Facebook ads designed to create "grassroots" opposition to BBB.
Why the White House is playing along
It's clear why CEOs like Barra would attend a White House meeting. They want to appear dedicated to tackling climate change and other important issues. They don't want the reputation for undermining popular policies.
But why would the White House invite CEOs that have relentlessly attacked the President's agenda and present them as supporters and partners? In part to generate headlines like this:
This gives Biden's agenda the appearance of momentum. But, if these CEOs don't actually support his agenda, is this a smart strategy? One of the reasons why BBB has stalled is the aggressive opposition by corporate lobbying organizations that represent the CEOs that were in the room today with Biden.